There are many different types of mortgage loans. Though many people simply think of a mortgage as the loan used to buy a home, in reality a mortgage is any type of loan that is secured by home equity.
Thinking about taking out a mortgage, but not sure what kind of interest rate you can get? Wouldn't it be nice if they just had a chart where you could see what you can expect to pay with a certain credit score, down payment and other factors?
VA loans for veterans
VA loans are one of the nicer perks of military service, one that stays with your entire life, long after you've left the service. And they're not just loans for veterans – active-duty personnel can qualify as well, if they've been in the service long enough, as can some surviving spouses and those employed in certain national security branches of the government.
Mortgage fraud has become more prevalent over time and is a particular concern during an economic recession. Upheaval in housing markets, homeowners facing foreclosure and unscrupulous persons looking for easy money all contribute to a climate in which mortgage fraud may occur.
For mortgage lenders, the ability to pay back what you owe at the agreed time is an important consideration. Anything that could affect your capacity to make the payments on time is a source of concern.