Is it the right time to buy? Here's why waiting could cost you --even with the current elevated rate.
Home Equity Conversion Mortgage (HECM) and proprietary reverse mortgages are two types of reverse mortgages. HECM is a government-insured reverse mortgage (insured by FHA), while proprietary reverse mortgages are not insured by the government (FHA). Proprietary reverse mortgages are offered by private lenders and are designed for high-value homes. They are not subject to the same regulations as HECMs, and loan limits are not capped by the government.
For many Americans, their home is the biggest asset, and the one they have invested the most in throughout their lives. In fact, home equity now represents more than two-thirds of total wealth for the average 65-year-old American Couple (1). Reverse mortgages work by allowing homeowners to tap into their home’s equity while continuing to reside there well into retirement years.
Ready to buy your second home? Here's what you need to know about which home loan programs you qualify for the second time around.
Are you considering downsizing your home? Here are some points to consider.
When is it the best time to refi? When should you consider it? Read this article to get a better idea.
Thinking about adding a co-signer to your home loan application? Here's what you need to know.
Don't let your excitement blind you to these potential problems in a home your considering buying
What is FICO 8 and what role does it play in your mortgage application? Read this article to learn more.
