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Home Financing
What Are the Basic Rules of a Reverse Mortgage? Understanding the Basics.
A reverse mortgage is a type of loan that allows homeowners who are 62 years or older to…
What Percentage of Loan Can You Get on a Reverse Mortgage? Explained
Reverse mortgages, a type of home loan available to seniors, allow homeowners to convert part of their home…
HomeReady vs HomePossible: Which One Fits You?
For those looking to purchase a home, understanding the different loan options available is important. Two popular options…
How much can you really earn monthly with a reverse mortgage?
Are you considering a reverse mortgage and wondering how much you can get every month? The amount you…
Is Mortgage Insurance Refundable? Find Out Now!
Many homeowners wonder if they will receive a refund for the money paid towards private mortgage insurance (PMI)…
The Hidden Pitfalls of HomeReady Mortgages
HomeReady is a Federal National Mortgage Association (Fannie Mae) home loan program that aims to make home buying…
What Percentage of Homeowners Never Fully Pay Off Their Mortgage?
It may come as a surprise to some, but according to recent studies, 44% of Americans continue to…
What’s the Magic Income for a $1 Million Mortgage?
If you’re considering purchasing a million-dollar home, it’s crucial to have a clear understanding of the income you…
Unlocking the Mystery: Minimum Credit Score for Home Ready
When it comes to buying a new home, understanding credit score requirements is essential. HomeReady is a mortgage…
What’s the Typical Loan Size for Freddie Mac Mortgages?
The average loan size for cash-out refinances financed through Freddie Mac by August 31, 2021, was approximately $265,000.…
What Are the Home Ready 2023 Income Limits?
Are you wondering about the income limits for HomeReady in 2023? Fannie Mae, the government-sponsored enterprise, sets the…
How Much Do You Need to Earn for an $800K Mortgage? Find Out Now!
When it comes to qualifying for an $800K mortgage, it’s important to consider your annual income. While there…
What Sets Reverse Mortgages Apart from HECMs?
If you’re considering using your home equity to access cash, you may have heard the terms reverse mortgage…
How Long Does It Take to Access Your Home Equity with a HELOC?
Getting a HELOC or a home equity line of credit can be a great way to access the…
Can You Put 20% Down with a HomeReady Loan? A Step-by-Step Guide.
Yes, it is possible to put 20% down with a HomeReady loan. However, it is not necessary and…