Mortgage Articles

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How does a cash-out refinance work?
Mortgage

How does a cash-out refinance work?

A cash-out refinance is a way to both refinance your mortgage and borrow money at the same time. You refinance your mortgage and receive a check at closing. The balance owed on your new mortgage will be higher than your old one by the amount of that check, plus any closing costs rolled into the loan. 

David  Mully
8 days ago
How hard is it to cancel PMI?
Mortgage

How hard is it to cancel PMI?

Private mortgage insurance might be one of the costs that you most hate to pay when you send in your mortgage payment each month. It's not necessarily because of the expense. It's because this insurance doesn't cover you. Instead, it protects your lender in case you default on your loan.

David  Mully
8 days ago
Proof of Income for a Mortgage
Mortgage

Proof of Income for a Mortgage

Income verification is a basic part of applying for a home loan. But there's more to providing proof of income than just handing over a couple of paystubs. You need to be able to show your earnings are stable. When making a down payment, you may have to be able to show the source of that money as well.

Kirk Haverkamp
1 month ago
Cold feet? Backing out of mortgage could cost you
Mortgage

Cold feet? Backing out of mortgage could cost you

It's not uncommon for home buyers to get cold feet when it's time to sign the papers that make their mortgage loan official. Taking on a monthly mortgage payment is a serious financial responsibility. Seeing all that new debt on paper can make even the calmest home buyer sweat a bit.

Kara  Johnson
1 month ago
COVID-19 Guide: Coronavirus & Home Loans
Mortgage

COVID-19 Guide: Coronavirus & Home Loans

Coronavirus and Your Home Mortgage
Coronavirus (COVID-19) information guide: Key points relating to home loans, forbearance, mortgages, refinancing, real estate and the housing market.

David  Mully
1 month ago
A Complete Guide to Second Mortgages
Mortgage

A Complete Guide to Second Mortgages

 What is a second mortgage? It's any loan secured by the value of your home, aside from the main loan used to buy the home itself. That one is called your primary mortgage; any other loans secured by your home are called second mortgages, no matter how many there are.

Kirk Haverkamp
6 months ago