After hackers breached Equifax and stole vital financial records of 145 million Americans, people have a right to be afraid of disclosing personal information. That's why it's imperative that lending institutions to do everything in their power to protect your privacy. When a prospective home buyer submits a loan application, defining information such as date of birth, home address, social security number, credit cards, bank accounts, and pay stubs are included. Basically, everything a hacker … [Read more...]
4 Things You Should Know About Conventional Mortgage Rates
Securing the best conventional mortgage rate possible can pose a challenge for even veteran property buyers. Your mortgage rate will be determined by a variety of factors that pertain to your unique financial portfolio as well as economic forces. While no one has full control over all of the things that influence the process, understanding the manageable aspects can improve your negotiation position when securing a conventional mortgage. Consider these four things that impact how conventional … [Read more...]
Does Private Mortgage Insurance Make Sense For You?
If you are reading this article, it's entirely possible that you are considering buying a home. It's also likely that you are weighing certain financial options between a sizable down payment or taking on the expense of mortgage insurance. It's important to understand that private mortgage insurance (PMI) helps mitigate the lender's risk. It has little benefit to the homeowner, other than help facilitate the mortgage approval process. Home buyers would be well advised to understand the … [Read more...]
Top Uses Of A HELOC
Homeowners who have equity built up in their homes can tap into that equity using a home equity line of credit, or HELOC. This financial tool can be a great way to accomplish a number of financial goals. Here are four excellent uses of a HELOC for homeowners to consider. Consolidating Costly Debts Credit card debt and other types of consumer loans are costly, unless a debtor is lucky enough to have a no-interest card. Borrowers can consolidate that debt into a HELOC, which is much more … [Read more...]
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