Homeownership is a significant milestone for individuals and families. For most people, a house is the biggest purchase they’ll ever make. To make that purchase, the prospective homeowner will likely have to borrow money in the form of a mortgage. Mortgages are large loans that could last for two decades or more, and the cumulative … Read more
Debt-Service Coverage Ratio (DSCR) mortgages have emerged as a highly appealing financing option for individuals and businesses seeking to purchase or refinance properties. These unique loans allow borrowers to qualify based on their cash flow generation rather than relying solely on collateral or creditworthiness. This approach offers several advantages, such as higher loan approval rates … Read more
“Owning a home is a keystone of wealth… both financial affluence and emotional security.” -Suze Orman. Talk about a real estate surge – mortgage demand is taking off like a rocket as interest rates fall. In case you hadn’t heard, the average contract interest rate for 30-year fixed-rate mortgages dropped to 6.23%, leaving homeowners and … Read more
Military members have access to a variety of loan options, some of which are exclusive to those who have served in the armed forces. Here are some of the main types of loans available to military members: These are loans guaranteed by the Department of Veterans Affairs and are available to eligible veterans, active-duty military … Read more
Do you plan on owning a home? Do you have enough funds to buy the property in cash? It doesn’t matter if you have the money to pay for a house upfront. But, if taking out a mortgage makes financial sense, we suggest considering a suitable lender. A mortgage is a loan you take to … Read more
Have you seen all of the house-flipping shows on TV? Every single one? But now you’re wondering how to get into fixing and flipping houses yourself? We cover the ins and outs of investing in real estate by flipping houses, from finding a “good” deal to leveraging creative finance techniques and lowering your chances of … Read more
Are you in the market for a new home? If so, I wouldn’t blame you if you want to avoid being house poor. What does it mean to be “house poor?” It’s a term used to describe people who have overspent on a home and cannot fund other expenses (i.e. housing expenses) or build wealth. … Read more
If you’ve been paying attention to the housing market recently, you will have noticed it’s on fire. From Seattle, WA, to St. Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing. The market hasn’t seen this much activity ever (even more so than … Read more
Taking out a single loan against the equity in your home will enable you to consolidate other debts such as a car loan or hire purchase agreement. You could reduce your overall debt, simplify your budget, and take the pressure off your finances if you release some of the money you’ve already paid towards owning … Read more
It occurs when a loan secured by real estate is provided by a different source than the original lender. First priority is given to the first lender, and the second priority goes to the second lender. Whenever the property is sold, the first lender is entitled to receive the equity therein. You may lose your … Read more
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