Mortgage

During what actually happens during the deed in lieu process, the homeowner voluntarily transfers property ownership to the lender, typically in exchange for being released from the mortgage debt, including a deficiency waiver. Immediately after, the homeowner vacates the property, and the deed in lieu is reported to credit bureaus, impacting scores less severely than […]

Mortgage curtailment, making extra principal payments, is a powerful strategy to save on interest and pay off your home faster. This method works for every borrower, regardless of loan type, including FHA, VA, and Conventional loans, as none have prepayment penalties. Curtailment builds equity, shortens your loan term, and for conventional loans, can even help

An interest-only mortgage, while offering lower initial payments, costs more over time because compound interest costs you more over time is evident: the principal balance remains unchanged during the interest-only period, allowing interest to accrue on the full loan amount for longer. Conversely, a fixed-rate mortgage consistently reduces principal, causing interest to compound on a

When to Refinance Your ARM: Timing Based on Rate Index Trends” helps homeowners and investors identify the ideal time to refinance an adjustable-rate mortgage (ARM) by tracking rate index movements like CMT and SOFR. rising CMT rates could signal it’s time to refinance The guide outlines key triggers—such as rising indexes, expiring fixed periods, and

Adjustable-Rate Mortgages (ARMs) offer lower initial rates, then adjust periodically based on a financial index, influencing how adjustable-rate mortgages respond to CMT rate changes. Fixed-rate mortgages provide stable payments. ARMs suit short-term homeowners or those anticipating refinancing, while fixed-rates are ideal for long-term predictability. The choice depends on individual risk tolerance, market outlook, and how

AVMs (Automated Valuation Models) often undervalue unique or renovated homes because they rely on public records and comparable sales, missing custom features and recent upgrades. Since AVMs don’t account for home upgrades like remodeled kitchens or finished basements unless officially recorded, their estimates can be significantly off. For more accurate pricing, buyers and sellers should

Refinancing when your Loan-to-Value (LTV) ratio improves, particularly below 80%, makes financial sense. how Refinancing can improve your LTV by demonstrating greater equity, leading to benefits like lower interest rates, elimination of Private Mortgage Insurance (PMI), and access to cash-out options. This strategic move helps reduce monthly payments and saves significant money over the loan’s

A blanket mortgage allows real estate investors to finance multiple properties under one loan, simplifying payments and reducing closing costs. Key to qualifying are blanket mortgage requirements and structure, including a minimum of two income-generating properties, a 70-80% Loan-to-Value (LTV), a strong credit score (680-700+), and a Debt Service Coverage Ratio (DSCR) of 1.25+. Lenders

Skipping title insurance, especially for first-time homebuyers, risks significant financial and legal issues. This one-time payment helps protect your legal ownership rights against hidden defects from the property’s past, such as unpaid taxes, unknown heirs, or fraudulent documents. Without it, you could face substantial out-of-pocket costs for resolving disputes or even lose your home, making

When the buydown period ends, mortgage payments often jump as the full interest rate applies. This guide helps homeowners determine if refinancing is the right strategy to manage this increase. It details what happens when the buydown period ends, the benefits and drawbacks of refinancing, and how to calculate potential savings, offering actionable advice for