VA Loans
The VA loan was one of the many veterans’ benefits created by the Servicemen’s Readjustment Act of 1944, more commonly known as the “G.I. Bill.” The American Legion campaigned for …
What Makes Rates Change?
Changes in mortgage rates are an important factor in our decision to purchase houses or refinance existing mortgages. It makes us wonder, what really causes the mortgage rates to rise or fall? Well, …
What is Escrow?
Oftentimes, during the mortgage process, the one aspect that can bring the most angst is the credit pull. There are MANY reasons why a credit pull may present problems, some …
What is an FHA Mortgage?
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). The FHA was created in 1934 as a result of the National Housing Act. This division of the government was …
ARM vs. Fixed Mortgages – How to choose between them
If you’re about to take out a home loan, it’s important to understand the differences between a fixed-rate and adjustable-rate mortgage (ARM). For instance, you might be wondering why most …
What is a Jumbo Loan?
A Jumbo loan is a mortgage where the amounts exceed conforming loan limits as set by Fannie Mae and Freddie Mac. Qualifying properties include primary residences, second homes, and investment …
What is a Reverse Mortgage?
A reverse mortgage is a unique loan product that allows homeowners, ages 62 and older, to convert a portion of their home equity into cash. While the senior remains in …
Why did my Loan get Sold?
Getting a letter or email from your mortgage company telling you that your loan has been sold can be shocking and concerning. You’ve just purchased a new house, why is …