Most reverse mortgage borrowers spend a lot of time focused on the front end of the loan: How much equity can be accessed How payouts work What the qualification requirements are What happens after closing gets far less attention, and…
According to Urban Institute research, veteran households own homes at a rate roughly 14 percentage points higher than the general population. https://youtu.be/VKwrvWa9wMc Most veterans who still rent are usually delayed due to one of three things: Active duty life made…
Most veterans who apply for a VA loan have heard of the debt-to-income ratio, but far fewer have heard of VA residual income, even though it carries just as much weight in the approval decision. https://youtu.be/wIvGJkioN7Y A borrower can have…
Conventional loans are the most common type of mortgage in the United States, and many buyers assume they are straightforward. They are not. https://www.youtube.com/watch?v=vfzkSeKLQDM There are several major decisions in a conventional mortgage, and each one carries long-term consequences for…
A mortgage is a legal agreement between a borrower and a lender. https://youtu.be/eu4wGcDfIts The lender provides money to buy a home, and the home secures the loan, meaning if payments stop, the lender has the legal right to take the…
For decades, homeownership has been one of the most consistent wealth-building paths available to American households. https://youtu.be/4GAZp13EOZU The typical homeowner has accumulated substantial housing wealth in recent years, while renters have generally not participated in that same asset growth. Buying…
Buying a home is one of the largest financial transactions most people will ever make, and real estate wire fraud targets that process when large sums of money are moving. https://www.youtube.com/watch?v=2w-sNXhk1lY During a transaction, buyers are asked to wire earnest…
If you already have an FHA mortgage and need to move, getting a second FHA loan can feel like a closed door. https://youtu.be/sND8oa4D3P4 FHA financing is designed for owner-occupied principal residences, and the general rule is one FHA-insured property at…
When you apply for a mortgage, federal law requires the lender to send a loan estimate within three business days. Most homebuyers look at the payment, maybe glance at the rate, and move on, but that is a missed opportunity.…
One of the biggest draws of a reverse mortgage is the elimination of the required monthly mortgage payment. https://www.youtube.com/watch?v=-NYKb2xcHMk For many older homeowners, removing that obligation creates breathing room, improves cash flow, and makes it possible to stay in a…
