Mortgage

A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise money to buy the property to be purchased or by existing property owners to raise funds for any purpose. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "law French" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.[1] Mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan).

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What Does Being in a Sellers’ Market Mean?

Wondering if you are eligible to refinance, or thinking of making a move? We are here to answer your questions about how either option fits in with your overall financial goals. Feel free to contact us any time. <br></br> Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house? <br></br>

Be prepared for the fall market

To help you as you begin your home search this fall, linked below is a handy Home Buyers guide to answer your questions about credit, down payments, do’s & don’ts, and more, and explain the process. Be sure to get your Fairway Advantage Pre-Approval™ with us before you begin looking at homes.   I hope you find this guide helpful. You can always contact me with any questions and getting pre approved for a home loan in USA.  

What You Should Do Before Interest Rates Rise

In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise.   Sell and Move Up (or Downsize)  

How Not to Lose In Retirement

Once again, if you have not had a chance to look into refinancing your current mortgage, now is a good time to do so, please get in touch. If you are 65+ and contemplating staying in your current home long-term, please register below for our Reverse Home Mortgage seminar to address your questions and concerns. We are here for you, your family and friends, anytime.  

Take a moment to celebrate!

As National Homeownership Month kicks off this June, homeowners have every reason to celebrate. A survey by Gallup just ranked real estate as the best investment you can make for the eighth year in a row. However, unlike other investment options, the benefits of owning a home aren’t purely financial. Here are the top ways Americans are winning by owning a home.  

Where The Housing Market is Headed

It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. Experts weigh in below. If you have questions about the market, refinancing or selling your home, we are here to discuss your options with you.   Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month.   In addition, Jim Dalrymple II of Inman News notes:  

Sell, renovate, age-in-place

There are plenty of opportunities for current home owners. Refinance, sell and relocate, or renovate to accommodate multi-generational living or to age in place. Whatever your goals, we can help. You may find the information below helpful, and then let’s start the conversation.   As rates remain low, if you haven’t discussed refinancing yet, now is the time to do it. At Fairway we also offer a variety of loan products that can help with both accessibility and aging-in-place.  

Do you know where you are going for mortgage pre approval process

If only we had a crystal ball and could predict with 100% certainty where the economy was headed, and what rates were going to do! We aren’t magic, but we do have the expertise of Dave Stevens, former CEO and President of the Mortgage Bankers Association (MBA) and Assistant Secretary of Housing for HUD under President Obama. This week we share his, and others, expert advice on where the market is headed-spoiler alert-the news looks good!  

Understanding More About Mortgage Lending

 

Obtaining a mortgage is very controversial among a lot of people. Several argue against finding a mortgage due to the length of time it takes to pay off, the curiosity charge included, and different similar reasons. Actually lots of this really is due in order to misunderstandings about mortgages. Actually you will find actually a lot of great causes to acquire a mortgage. Not only this, there are several very good reasons to move all out with a big extended mortgage.

 

In the giving spirit

In honor of Giving Tuesday, an international day of giving back, today we share information about the nonprofits that are near and dear to us here at Fairway.  We also invite you to share your favorite nonprofits with us, and throughout 2021 we will highlight one each month across our digital platforms to keep the giving spirit going.

As always, we are here for you and your clients.

Understanding Further About Mortgage Lending

 

 

Finding a mortgage is very controversial among a lot of people. Several argue against getting a mortgage due to just how long it takes to cover off, the curiosity rate involved, and different related reasons. Really plenty of this really is due only to misconceptions about mortgages. In reality there are actually plenty of great causes to obtain a mortgage. Not only that, there are several excellent factors to move all out with a big long mortgage.

 

How are you doing for home financing

As always, we are here for you to issue pre-approvals, help make offers competitive, answer all home financing questions, and get you to the closing on time. In fact, Fairway has been recognized as the #2 lender in the country, with the highest number of purchase loans during COVID. However, as COVID lingers, and stressors continue to mount, it is time for us to pause and ask once again, how are you doing?   We have passed the six month point of the pandemic, and while rules are easing, we are still not out of the woods yet, and we could all use a reminder to take care of ourselves.  

Home equity mortgage refinancing loan - Use it without selling your home

How do I get a home equity refinancing loan without selling my home? If you have this question in mind, read this article.

If you want to free up your hard earned money and raise funds, the Home Equity Home Refinancing Loan is a great option. As well as saving you money, it can also increase the level of equity in your home and shorten the recovery period of your original mortgage.

 

Can I get Home Loan even If have bad Credit?

If you have a ‘bad’ credit history, would you be able to get a home loan? Furthermore, is it a smart thought?

A bad credit home loan is usually for borrowers in difficult situations. Whether it's a defaulting, bankruptcy, there are still approaches to get authorized.
 

Having bad credit score can make it more complicated and perilous to get a loan equated to someone with ‘good’ credit. It can similarly be more costly.

 

What is a bad credit home loan?
 

Understanding More About Mortgage Financing

 

Finding a mortgage is extremely controversial among lots of people. Many argue against getting a mortgage as a result of the length of time it will take to cover down, the interest charge included, and different related reasons. Actually a lot of this is due in order to misconceptions about mortgages. Actually you will find really lots of good causes to obtain a mortgage. Not only that, there are some excellent reasons to go all out with a huge long mortgage.

 

Homebuild Mortgage - Hard Money Loans

A self build mortgage is specifically designed to aid self builders build their own home. Instead of funds being released in a lump sum upon completion like a traditional mortgage, with a self build mortgage, funds are released at key stages of the project.   Rates of interest are typically higher than the standard house purchase/remortgage rates currently available, and the arrangement fees also vary from lender to lender. Once the property is habitable, some lenders permit the borrower to switch to a lower rate of interest.  

Leveraging RSU income for your mortgage: underwriting in the 21st century

By Mike D'Ambrosio

At Better Mortgage, we work with customers who work at places like Amazon, Google, Facebook, Oracle, or other publicly traded technology companies. Many of these employees are compensated in part through restricted stock units, or RSUs. In a nutshell, these are shares of stock that “vest” over time – the longer an employee stays with the company, the more stocks they will actually own.

Home Loan Lenders - Finding the Best Home Mortgage Lender

The process of getting a home loan or mortgage can be really stressful and rather time consuming. Finding the most effective lender for your situation calls for study and contrasts in between loan providers and loan bundles. You may be looking for a first time mortgage or to re-finance your existing home mortgage. Contrast lenders meticulously and also locate the best possible terms offered to you.

 

Knowing Further About Mortgage Financing

 

Finding a mortgage is quite controversial among plenty of people. Many argue against getting a mortgage due to just how long it takes to pay down, the curiosity rate involved, and other similar reasons. Actually a lot of this really is due only to misunderstandings about mortgages. Actually there are really a lot of great factors to acquire a mortgage. Not only this, there are a few excellent causes to go all out with a big extended mortgage.

 

Finding the most effective Mortgage For You

When you are concerned about getting a home mortgage, you want to have the ability to get the best home mortgage offer that you can obtain your hands on. The question is: how do I get an excellent home mortgage?   There are two methods which you can go about looking for the most effective home mortgage bargain around. The initial method, is to find a mortgage on your own as well as the second means, is to use a home loan broker. These two choices will be gone over additionally listed below.  

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