Person searching online for purchase money mortgage

Article Summary: A purchase money mortgage is a way to qualify for a loan even if you have poor credit. Instead of a financial institution issuing the loan, the seller of the property issues it to the borrower. While a good option for those with a poor credit score, purchase money mortgages can sometimes have […]

Person signing a contract

Article Summary: During your search for a home, you may discover properties that are “under contract.” This means that another buyer has made an offer and the seller has accepted. Several steps must be taken before such loans close. During this time, the sales may fall through and the homes become available again. Home hunting […]

smiling loan originator in business attire with loan documents

Article Summary: The mortgage loan originator (MLO) is an integral part of the homebuying process. This individual or institution helps the borrower apply for, secure, and choose a mortgage loan. The process of buying or refinancing a home can be daunting. There seem to be an endless number of steps and countless options, all of […]

Old rusted car sitting in a field in front of dilapidated buildings

Can You Buy a Town?

Article Summary: Can you actually buy an entire town? Turns out you can, and real people have — not just the fictional characters from the popular TV series Schitt’s Creek. You never know what real estate listings might turn up. In fact, you could find a whole ghost town for sale, complete with houses, dance […]

Man searches online for what is a bridge loan

Article Summary: A bridge loan is a short-term loan that borrowers use to finance a purchase while they secure long-term funding. They typically have higher interest rates and more expensive fees than regular mortgages. Both individuals and businesses make use of bridge loans. Individuals most often use them to help fund the purchase of a […]

Man pointing at house model with pen

Article Summary: Third-party mortgage originators are intermediaries between borrowers and lenders that facilitate the loan origination process and reduce the time it takes for potential homeowners to get approved for a mortgage. Mortgage lending is a complicated process. Before you actually receive the home loan, your credit history, debt-to-income ratio, and potential risk are reviewed […]

One hand with pen about to sign documents to show how to get equity out of your home

What is a First Mortgage?

Article Summary: A first mortgage is the primary loan that a homebuyer uses to purchase a property. It’s also called a primary lien because if the borrower defaults, it has priority over all other claims on the property. Financing a home is one of the biggest financial decisions you’ll make in life, so it’s important […]

windows and balconies of apartments in tall buidling

Can You Buy an Apartment?

Article Summary: Yes, you can buy an apartment! You probably won’t buy the one you’re living in right now, but it is possible to buy an apartment. You might consider doing so if you’re not in a position to purchase a house right now, or if you’re just not interested in taking on all the […]