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Posts tagged "Mortgage"

Nonrecourse lending versus recourse loans: The difference

There is one major difference between nonrecourse and recourse loans that you should know before you decide to take one. The primary difference is that in a nonrecourse loan, the lender cannot seek assets other than the home or property in the case that you default.

Mortgage rates increase in mid-June

If you've become interested in purchasing real estate, now may not be the time due to rising mortgage rates. For several weeks, mortgage rates dropped, making it a good time to buy, but now, as of June 14, those rates are on the rise again. That means that you'll be more likely to spend greater amounts for less house.

What should you ask when shopping for a mortgage?

You're tired of paying high rent for an apartment in your city, and it's your goal to move into a home that you can fix up to meet your needs. You know that you'll need to get a mortgage to be able to afford it, but do you know the questions you should be asking when you shop for a loan?

Does a prequalification guarantee a mortgage loan?

You want to buy a home, but you don't want to look at something that is out of your budget. You think you know what you want to spend, but you want to know that you can get the money you need to finance the purchase. If you can't get it, there's no point wasting your time looking for a property out of the loan's range.