If you did not put down at least 20% on your home purchase, more than likely, you were required to purchase mortgage insurance. Mortgage insurance is sometimes called Private Mortgage Insurance (PMI) or in the case of Government FHA loans, Mortgage Insurance Premium (MIP). Mortgage insurance guarantees the lender against any losses should you default. […]
Buying a home in New Hope PA is exciting and filled with options. It’s vital for potential home buyers to understand the mortgage “lingo” as they embark down the home ownership path. A common misconception is the difference between home mortgages and home equity loans. They are NOT interchangeable. Here are four important points borrowers must […]
Homeowners living in Quakertown PA may have heard about reverse home mortgages and wondered if pursuing one is a good idea. There’s tons of information online about the advantages and drawbacks of reverse mortgages. It can get confusing! Here are 4 scenarios when reverse home mortgages make sense. Downsizing Is Not an Option If you need a bit of financial […]
Qualifying for a home mortgage in New Jersey requires several key steps. Here is an easy checklist to follow to keep you on the right track. Snapshot Your Financial Picture Understand where your money comes from and goes. Lay out your monthly bills and your other expenses. Outline Your Budget Decide how much of your income […]
Most of us don’t have enough cash to pay for our houses up front, so we apply for, secure, and pay for mortgage loans. The lenders involved in the mortgage process check credit, debt load, income, and other important aspects of our financial lives before extending a loan. How Do Mortgage Rates and APR Affect Your […]
Think about your salary before buying a home in Richboro PA. Otherwise you might mis-figure the mortgage loan amount you need. Lenders typically recommend earmarking 28% of your net income for your mortgage, For example, if your monthly income after taxes is $4000, the maximum monthly mortgage payment should be $1120. However, the amount you can actually afford might be different, depending […]
Buying a home in Ivyland? Along with the house of your dreams, you’ll no doubt be looking for the best mortgage for your budget. Here’s a quick checklist for getting a home mortgage. Gather Your Paperwork Be ready to prove your identity and income, and show your debts and assets. Get documents together at the beginning of your mortgage search. […]
Buying a home in Chalfont PA? Your mortgage loan choices hinge heavily on your credit scores. If you have a long, lengthy credit history and pay your bills on time, you probably have great credit. If you’ve paid your bills late and maxed out your credit cards, your credit scores may be low. If you’re planning on purchasing a home and living in Chalfont PA, understand which credit reports […]
Thinking about buying a home in Bucks County, PA? Then think about the length of the mortgage loan you need. The majority of U.S. home buyers choose either a 15 year mortgage or a 30 year mortgage. Home mortgages in Bucks County are no different. How do you decide? These questions will help decide which one is right for you. […]
Many Americans shoulder huge amounts of student loan debt. As recent college graduates venture into the housing market, some are shocked that their student loans affect buying a home. If you’re looking for a home mortgage in Newton PA, be aware that student loans affect buying a home in 3 significant ways. 1: The Down Payment A hefty down payment is a smart way […]
I felt like a boulder had been lifted off my chest. I had worked hard all my life and paid the bills to take care of my wife and 3 daughters. Mostly it had been living paycheck to paycheck. Now with the reverse mortgage, we have the money to do the things we want to do and a cushion for any emergencies.
Dick was able to help me with my mortgage when my husband and I were going through a divorce. During a very difficult time for me, Dick was able to work through the differences and problems I was having. He was able to get my mortgage closed in a very quick time which was essential for me.
Carla, Ambler, Pa
Nan was absolutely fantastic to work with! I decided to finally go through with a reverse mortgage after I met her. I had complete confidence in her and she made me feel very secure through the whole process. I use my reverse mortgage to pay my real estate taxes and it’s a great emotional security knowing that money is there if I need it.
Nan was an excellent representative for her company. She presented me with many different loan scenarios and happily met with my financial advisor and accountant and even my attorney. We all decided that taking out the reverse mortgage was the best thing for me because it put to work some of the large amount of equity I had in my home. This meant that I could draw down less of my investment accounts.
The reverse mortgage allowed me to bring my father home from a nursing home to the home he wanted to be in.We were able to pay for the at home nursing care with the funds from the reverse mortgage. He was able to stay at home and be with his dog.
WOW – Was I surprised. I never knew a mortgage loan officer could be so helpful. Tom reviewed my refinance and while reviewing our mortgage application and property information, he recommended we apply for a tax reassessment. He told us how to do it and sent all the links and paperwork for us to fill out. We saved $4,042 per year in taxes and even more with the new lower rate.
Marc R., Upper Makefield, PA.
Andy helped me save money. My local bank (large bank) was .25% higher and they acted like they were doing me a favor talking about loan programs. They were very helpful and the process was smooth.
Ed J., Levittown, PA
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