If you’re looking to buy or refinance a home, it’s important to understand some of this mortgage lingo. What is a non-conforming loan, and how does it differ from a conforming mortgage? Would it really be the best choice for Batman?
If you’re thinking about refinancing your mortgage, it’s good to be prepared. After all, refinances typically take a month or two to complete, and delays in getting your lender the information they need from you can stretch that timeline even further. Having all your documentation ready can help the process go more smoothly.
Have you always wanted to say, “I’ll have my person call your person?” Hiring a real estate agent assistant might make you feel like a big shot – finally, someone to do the detail work! But the reality is that hiring a real estate assistant is more about growing your business than your ego.
Adjustable-rate mortgages (ARMs) can make a lot of sense for many people. You can generally get a lower rate than you could with comparable fixed-rate loans. Additionally, if you plan on moving before the end of the initial fixed-rate period of the loan, you may never deal with an adjustment.
The death of a loved one is an incredibly difficult time. Not only are you emotionally drained, but after the funeral, you have the added anxiety of sorting through legal documents, financial information, and the last will and testament of the deceased. You want to make sure you take care of any financial loose ends, and that can turn into an overwhelming task.
As in many areas of life, people often prefer certainty when it comes to their mortgage payment. For this reason, the idea of going with an adjustable-rate mortgage (ARM) is often dismissed out of hand. However, there are certainly reasons to consider it, particularly if you’re refinancing to save money. We’ll discuss the pros and cons of an ARM refinance, but let’s start with the basics.