Mortgage Articles

Want to get your personal finances in order but you're not sure how?
Here at Mortgage Loan, we have a few tips!
Understanding the TALC on a reverse mortgage
Mortgage

Understanding the TALC on a reverse mortgage

A reverse mortgage is an odd duck as far as loans go. While a “forward” mortgage lets homeowners build equity over time as they pay down their loan, a reverse mortgage is the opposite. It gives older homeowners regular payments to supplement their income in exchange for giving up the equity in their home.

Dan Rafter
1 year ago
Can a cash-out refinance help reduce your debt load?
Mortgage

Can a cash-out refinance help reduce your debt load?

Struggling to pay off your credit cards or other debts? Are the high-interest rates attached to this debt causing it to soar each month? If you have enough equity in your home, and you can afford what might be a slightly larger mortgage payment each month, a cash-out refinance might be the answer.

David  Mully
1 year ago
Mortgage broker or lender? Which is better for you?
Mortgage

Mortgage broker or lender? Which is better for you?

You’re ready to apply for a mortgage loan and begin the hunt for your dream home. Now you have to decide between the two main providers of mortgage financing: mortgage brokers or mortgage lenders, the latter including both banks and other direct lenders.

David  Mully
1 year ago
What you need to know about online mortgages
Mortgage

What you need to know about online mortgages

Applying for a mortgage, and closing one, can be a tedious process. Lenders must scan your credit reports and study your credit score. You’ll have to provide copies of such documents as your most recent pay stubs, bank statements and tax returns to verify your income. And the odds are high that you’ll have to either meet in person or have several telephone calls or online chats with a mortgage loan officer.

Dan Rafter
1 year ago
A better credit score could make mortgage refinancing worthwhile
Mortgage

A better credit score could make mortgage refinancing worthwhile

Falling interest rates can be reason enough to refinance a mortgage loan. So can improving your credit score, even by just 50 points by simply paying all of your bills on time for a year. Raising a credit score only 20 points can lower a monthly mortgage and save thousands on interest paid over the life of a home loan.

Aaron Crowe
1 year ago
How much will your mortgage payment really be?
Mortgage

How much will your mortgage payment really be?

Think you know how many dollars you'll be sending to your mortgage lender each month? You might not. That's because your monthly mortgage payment is more complicated than you might think. You wouldn’t be the first new homeowner to not understand that a monthly mortgage payment isn't just made up of the money you pay to reduce your loan's principal balance and cover the interest it generates.

Kara  Johnson
1 year ago
8 reasons to refinance your mortgage
Mortgage

8 reasons to refinance your mortgage

With home loan interest rates seeming to hit lows often, it can be maddening for homeowners who want to refinance their mortgage at the lowest interest rate they can find. What’s low today could be lower tomorrow.

Kara  Johnson
2 years ago
Thinking of refinancing? An ARM might make sense
Mortgage

Thinking of refinancing? An ARM might make sense

The days of interest rates hovering near 3 percent for fixed-rate mortgages seem to have disappeared, with the Freddie Mac Primary Mortgage Market Survey reporting that the average rate on a 30-year fixed-rate loan stood at 4.45 percent as of Jan. 10. This doesn't mean, though, that there aren’t any reasons to refinance your existing mortgage loan in 2019.

David  Mully
2 years ago
Is the credit scoring model for home loans outdated?
Mortgage

Is the credit scoring model for home loans outdated?

A federal decision on new rules to a credit scoring model that some mortgage lenders consider outdated has been put off for two years, potentially hurting home shoppers who don’t have a credit history and are “credit invisible” or only have a short credit history.

David  Mully
2 years ago