The VA puts a lot of effort into making sure only qualified veterans secure a VA loan, but sometimes default still happens. We can’t predict what will happen in the future, which means some veterans just have no choice but to walk away from their home.Looking for Current Mortgage Interest Rates? Click Here.What happens to you if you have to walk away from your home and let it foreclose? … [Read more...]
Can you Cancel a Mortgage After Closing?
Buyer’s remorse is never a fun feeling. But when it has to do with something as large as a mortgage, it can be downright frightening. You can’t just take a home back to the store and return it. So is there any way that you can cancel a mortgage after closing?Get Matched with a Lender, Click Here. Canceling a Purchase Loan After Closing Unfortunately, there’s no way to cancel a purchase loan … [Read more...]
How do Appraisers Determine Property Value?
Contrary to what you might believe, appraisers don't derive the value for a property. Instead, they just confirm that a home is worth the value that you bid.Looking for Current Mortgage Interest Rates? Click Here.Appraisers look at several different areas to determine if the value you agreed to pay is near the market value for the home. Appraisers primarily look at the subject property, … [Read more...]
Should I Go With A Mortgage Broker Or A Bank?
Before you apply for a mortgage, you should determine which type of lender you should use – a mortgage broker or a bank.Compare Offers from Several Mortgage Lenders.Both entities offer the same thing – mortgage loans. It’s their offerings, interest rates, and closing costs that may differ. So how do you know which one is right for you? Using the Bank For Your Mortgage Loan When you use … [Read more...]
How Is Conditional Mortgage Approval Different from Pre-Approval?
Shopping for a home loan can seem confusing as there are many different ways to get approved. The two most commonly confused are conditional mortgage approval and pre-approval. While they sound similar, they have a few vast differences.Compare Offers from Several Mortgage Lenders.We look at how they compare below. What is a Pre-Approval? The pre-approval is the first step when you are … [Read more...]
