Mortgage

How Does My Existing Debt Affect Getting A New Mortgage?

How Does My Existing Debt Affect Getting A New Mortgage?

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Carrying debt is a common problem that people have. Some of the most common types of debt include student loans, credit cards, and motor vehicles. When you are interested in buying a new home, you often think about whether or not your debt is going to hurt your chances of qualifying for a new mortgage.

What is Owner Financing When Buying A Home?

What is Owner Financing When Buying A Home?

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There are many options when it comes to taking out a loan on a new home. One of the options that people might have heard about is called owner financing. In general, the property owner takes the place of a traditional lender.

3 Ways To Avoid Mortgage Insurance

3 Ways To Avoid Mortgage Insurance

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When you are buying a home, you may run into a number of hurdles to complete the purchase. One of the items that you may be asked to purchase is called private mortgage insurance, often shortened to PMI. This is a unique insurance policy that your lender, such as the credit union or bank, may ask you to buy in order to protect themselves. In this insurance policy, the bank protects themselves against losing money if you end up defaulting on your loan.