Mortgage Programs
Life Gets Even Better After Age 62
As you reach your senior years, many government programs suddenly become available, such as Medicare or Social Security, but there are other resources too. What is a Reverse Mortgage? A reverse mortgage is a cash payout to the homeowner based on the property’s equity. If you have $50,000 in equity, you may be able to […]
Beneficial Program Changes for Seniors
There has been some program changes in a reverse mortgage that have made it even more beneficial for its borrowers. Senior Help Line provides senior homeowners with the solution to their financial obligations. Three Basic Changes to Reverse Mortgage: 1) First Year’s Limit – The Department of Housing and Urban Development (HUD) has reestablished a […]
Increasing Trend in HELOC Loan Origination Volume Since 2008
RealtyTrac, the nation’s leading provider of comprehensive housing data and analytic for the real estate and financial services industries recently released a trend report on the total volume for HELOC loan originations. The first-ever HELOCs volume report shows a sudden increase in trend since 2009. Since June of 2009, the total volume in Home Equity […]
30-Year Mortgage Rates at 4.19% and No Money Down for VA Purchase Loans
According to Freddie Mac’s weekly mortgage rate survey, 30-year mortgage rates are currently as low as 4.19%, making VA purchase home loans even more appealing with no money down for today’s veterans and active-duty military members. Though many borrowers may not be able to qualify since it is specifically offered only to active-duty military members […]
Debunking Reverse Mortgage Myths
Reverse Mortgages are one of the most misunderstood loan programs that the government insures. Even though there are a number of benefits for seniors through a HECM reverse loan, many eligible homeowners are missing out due to the overwhelming myths about the nature of reverse mortgages. While a reverse mortgage is not the only way […]
Save More By Owning A Home
Since the economy is picking up speed for the better, many renters have seen their monthly rent increase as well. Based on the nation’s housing market, homeowners are saving more on a monthly basis than renters, Mortgage Home Base is ready to guide first-time homebuyers in the right direction. Eligibility requirements for a mortgage has […]
Rising MIP Affecting FHA Mortgage Loans
The FHA at one point in time was more appealing to a wider range of homeowners with their easier credit standards, lower down payment requirements (as little as 3.5%) and their acceptance of an LTV (Loan-to-Value) of 96.5% in all mortgage type properties. FHA Mortgage Insurance Premiums are getting way too high for current FHA […]
Survive Your Underwater Mortgage
You’ve been told by your lender that a 6.75 percent home loan is the best value you’ll see in the industry, but that was several years ago. If you still have that loan, but are struggling to find the monthly funds to pay it, there is relief in the form of The Home Affordable Refinance […]
Reducing Expensive Mortgage Payments
With high interest rates and some remaining unemployment from the Great Recession, you may be struggling to stay current on the payments to this day. Although it may sound too good to be true, there is a government-backed program that helps you reduce monthly payments with a refinance. HARP Basics HARP is a program designed […]
Refinancing Even With High Negative Equity
The United States government wanted a way to jump-start the real estate and national economies with a burgeoning program for nearly all homeowners. HARP, or Home Affordable Refinance Program, allows you to refinance your home while underwater with your lender. Potential Savings On average, one underwater mortgage can save around 33 percent on each monthly […]
A Refinance Program Giving Back to the Middle Class
Mortgage rates are lower today than they have been for years. For those who are already committed to a current existing rate, you are not out of options to achieve a lower rate through a refinance. Even though the opportunity has been around since 2009, one of the nation’s most effective mortgage payment reducing program […]
Save Our Housing Economy: Help Encourage HARP Refinance Before Deadline
Between 2013 and 2014, home refinancing numbers dropped 56 percent, showing a market halt to an otherwise recovering housing industry. One of the key factors may have been rising interest rates, reflecting values based on credit scores. Rates were even smaller in 2012 at slightly lower than 4 percent. The need for refinancing is still […]
Quick Mortgage 101
With several mortgage programs to choose from, this can be a difficult task at hand for anyone who isn’t too familiar with the difference between each one. Varying from government endorsed programs to conventional, you will find that one of the two types is best suitable for you or what you may only be able […]
How Do I Choose The Best Loan Program For Me?
Choosing the right loan program depends on a number of factors, and there’s no single answer for every borrower. Examining a borrower’s current financial situation, future financial plans, and the length of time a borrower expects to own or live in a home will help guide the process of choosing the right loan. Before speaking […]
What Are The Advantages Of The 15 And 30-Year Fixed Rate Mortgages?
Buying a new home is one of the biggest decisions that you will ever have to make. While most people focus on the decision of actually buying the home, an equally important decision is choosing the right mortgage. There are many different types of mortgages available, the two most popular of which are fixed and […]
