Co-Signing a Mortgage: Is It a Good Idea?
When a homebuyer needs a mortgage but has poor credit, one option is to find a close friend or family member with good credit willing to become a co-signer on…
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What is a Hard Money Loan, and How Does It Work?
A hard money loan is a type of loan that provides cold, hard cash in just a few days. Such loans are typically secured through a physical asset, such as…
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A Guide to Understanding the Loan-to-Value (LTV) Ratio
Your loan-to-value (LTV) ratio is essential when planning a home purchase or a refinance. Lenders will use this percentage to compare the value of your property against the loan amount.…
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Mortgage Points Vs. Lender Credits: What are They?
When you’re looking to secure a mortgage or refinance an existing home loan, two phrases you’re likely to come across are mortgage points and lender credits—both present interesting ways to…
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What Happens After My Mortgage is Paid Off?
For many homeowners, that magical day when you finally make your last mortgage payment is something everyone dreams of. It’s a true milestone that brings a sense of pride and…
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My Mortgage was Declined, What Can I Do Next?
The home buying process can have a lot of ups and downs. One minute you’re ecstatic about getting an accepted offer; the next, you face complications with the deal. One…
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Worried About Rising Mortgage Rates?
The Federal Reserve recently began raising interest rates to clamp down on inflation. The average 30-year fixed-rate mortgage is now above 5%, the highest it’s been since 2011 and representing…
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UltraFICO – A New Credit Score Method
If you’re currently in the market for a new home, odds are you know what a credit score is. This vital number plays a crucial part in the mortgage application…
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Getting a Mortgage in New York City
Many people dream of homeownership, especially in New York City. However, unless you have piles of money, you will need a home loan to achieve it. It can seem like…
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What is Private Mortgage Insurance (PMI)?
While a 20% down payment on a New York City home purchase is recommended, it is not always required. You can secure a loan with a down payment of less…
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