Category: Mortgage Loans

What are Mortgage Loans with No Down Payment?

People who are interested in buying a home by availing a conforming mortgage, are required to provide at least 20% of the price of the home as down payment. Prior to the...

Mortgage Loss Mitigation

Mortgage insurance companies collect a premium on mortgages that require either the borrower or the lender to pay for private mortgage insurance (PMI). Private mortgage...

What is a Second Mortgage?

A second mortgage, like the name suggests, is a loan taken out on a property that is already mortgaged. Simply put, it is a second loan on the same property. In case...

Mortgage Loans After Bankruptcy

Filing bankruptcy is a consequence of the debtor being unable to discharge debt obligations. The eligible consumer/debtor has the option of filing a Chapter 7 or a...

Second Mortgage Vs. Home Equity Loan

A primary mortgage lender advances money to a borrower, who uses the funds to finance the purchase of a home. A mortgage is a secured loan, since the home acts as a...

What are Mortgage Rates Based On

For an individual who wants to buy a property with a good mortgage deal, interest rate is one of the most important considerations. Before opting for a loan, one should...

Getting a Mortgage After Foreclosure

Foreclosures are the result of the homeowner defaulting on mortgage payments or taxes imposed by the federal and the state government. The latter is known as a tax lien...

How Does a Second Mortgage Work

A traditional mortgage enables a person to buy a house by borrowing money from the mortgage lender. Generally, banks and credit unions are preferred lenders since they...

Mortgage Loan Underwriting

The entire financial condition of the applicant is reviewed during the mortgage loan underwriting process. The applicant provides the lender with the documents that...

Types of Home Mortgage Loans

Have you decided to buy a new home, but don’t know which loan to apply for? A home mortgage loan could be what you are looking for. It is a type of loan that is...