Josh Anderson 
Mortgage Rate is the interest that a homebuyers pay on a Home Loan. A lower interest rate makes for lower Mortgage Payments while a higher rate can make it more challenging to find an affordable monthly payment, or even get approved for a Mortgage Loan. Mortgage Rates are affected by market factors like inflation, the … Read more
Home Appraisal is the most important part of the home-buying process. It is the process of common types of valuation in which the real estate appraiser determines the fair market value of the house. A Home Appraisal provides unbiased insight into a property’s estimated worth by comparing it to recently sold homes in the same … Read more
A Variable-rate Loan is a type of Mortgage loan which have fluctuating interest rates based on the current financial market. It is the Mortgage Loan with a rate that changes. The Interest rate is tied to a benchmark which varies depending on the Mortgage Lender, and it rises or falls based on the benchmark. A … Read more
Lender-Paid Mortgage Insurance (LPMI) is a form of Mortgage Insurance that is paid for by the mortgage lenders via a one-time fee, rather than by the borrower monthly. Lender-Paid Mortgage Insurance (LPMI), refers to a situation in which the mortgage lender pays for the Mortgage Insurance. While there are various ways to pay for the … Read more
Home Equity Loan also known as Home Equity Installment is a type of Second Mortgage secured by the equity in the home. Home Equity Loans are a useful way to tap into the equity of homeowners’ homes to obtain funds when their assets are tied up in their property. A Home Equity Loan lets the … Read more
A Home Equity Line Of Credit (HELOC) is a Second Mortgage that provides homeowners access to cash based on the value of their home. A Home Equity Line Of Credit (HELOC) is a variable-rate form of financing that allows homebuyers to cash in on the equity they have in their home. A Home Equity Line … Read more
A Second Mortgage is a type of subordinate mortgage that allows homebuyers to borrow home equity while they already have a current or first mortgage on the property. A Second Mortgage is a home-secured loan taken out while the original, first, mortgage is still being repaid. A Second Mortgage is a loan made in addition … Read more
A Piggyback Loan is actually the second mortgage loan after the first mortgage is used to finance one property. A Piggyback Mortgage loan combines two mortgages for buying or refinancing a home. Homebuyers often use Piggyback Mortgages to avoid paying Private Mortgage Insurance (PMI) on a conventional loan when putting down less than 20%. Borrowers … Read more
VA Funding Fee is a one-time payment that helps lower the cost of a VA Loan since the VA Mortgage loan program does not require a Down Payment or Mortgage Insurance. The amount of the fees is determined by the Loan’s size whether the homebuyers already have VA Loans and their service history. The U.S. … Read more
USDA Guarantee Fee works like mortgage insurance in helping to guarantee the USDA Mortgage Loans. The USDA Guarantee Fee is lower than similar fees on similar loans, but USDA borrowers should still be aware of these fees and how it works. The USDA Mortgage Loans are issued through the United States Department of Agriculture and … Read more