Understanding Mortgages | My Mortgage Insider

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A Complete Guide to Home Loan Closing Costs

August 3, 2021

What are closing costs? Any home loan — whether its to purchase a new home or to refinance a current loan — will come with closing costs. Closing costs cover […]

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Home Buying · Understanding Mortgages

Cosigning a Mortgage for an Adult Child

August 3, 2021

Your adult child is hardworking and responsible. But because of their lack of credit history, stricter lending regulations or too many student loans, it is almost impossible for them to […]

How to write a mortgage letter of explanation

Home Buying · Understanding Mortgages

How to Write a Letter of Explanation | Template and Examples

August 3, 2021

When you’re asked to write a letter of explanation by a mortgage underwriter, look at this as a valuable opportunity to clearly communicate your situation. The letter of explanation may […]

Understanding Mortgages

How To Calculate Self Employment Income for a Mortgage | 2021

August 3, 2021

When applying for a mortgage, the lender will make sure the borrower can afford the new mortgage payment. This is determined by comparing the borrower’s proposed housing payment with their […]

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News · Understanding Mortgages

Stated Income Loans Available in 2021

July 21, 2021

Stated income loans are making a comeback — sort of. Extremely popular in the early 2000s, stated income loans were one of the factors of the housing market collapse. Why? […]

Home Buying · Understanding Mortgages

Low Appraisals in a Hot Market | 2021

July 21, 2021

Due to increased demand and low real estate inventory, most parts of the U.S. are currently in a seller’s market. This is great news if you’re trying to sell a […]

5 Year Mortgage Rates Chart with 8 and 15 year amortization

Mortgage Rates · Understanding Mortgages

5-Year Fixed Mortgage Rates and Loan Programs

July 9, 2021

Fixed mortgages with shorter terms can create incredible interest savings. Not a lot of lenders offer short-term mortgage loans. The good news is you can create your own 5-year fixed […]

Home Buying · Understanding Mortgages

Borrow From Your 401k to Buy A Home

July 7, 2021

Saving up money for a down payment and closing costs to buy a house is one of the basic requirements in order to qualify for a home loan. It can […]

Understanding Mortgages

Second Mortgages: The Complete Guide

July 7, 2021

With a second mortgage, a homeowner can borrow at a very low interest rate, using his or her equity in the home as security.

Buy a Home for an Elderly Parent and Get Lower Interest Rates

Conventional Loans · Home Buying · Understanding Mortgages

Fannie Mae Family Opportunity Mortgage | 2021 Guidelines

June 18, 2021

You can buy a house for an elderly parent and get better interest rates by classifying it as “owner occupied.” The Family Opportunity Mortgage is a great way to help aging parents.

Category: Understanding Mortgages

A Complete Guide to Home Loan Closing Costs

Cosigning a Mortgage for an Adult Child

More

How to Write a Letter of Explanation | Template and Examples

How To Calculate Self Employment Income for a Mortgage | 2021

Stated Income Loans Available in 2021

Low Appraisals in a Hot Market | 2021

5-Year Fixed Mortgage Rates and Loan Programs

Borrow From Your 401k to Buy A Home

Second Mortgages: The Complete Guide

Fannie Mae Family Opportunity Mortgage | 2021 Guidelines

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