4 Most Common Types of Home Loans
Do you need a loan or mortgage in Virginia Beach, Norfolk or Chesapeake? A first-time homebuyer who want to learn more about how to get a mortgage? Check out the infographic below!
Category: Terminology
3 Confusing Mortgage Terms — and Their Simple Definitions
Hi, everyone! I often talk with homebuyers and realize there are so many mortgage terms people don’t understand. I hope these three are useful for you! Closing — The completion of the loan process, where the borrower receives funds from the lender in return for promising to repay the loan. At closing, the seller also delivers Read more about 3 Confusing Mortgage Terms — and Their Simple Definitions[…]
CFPB Unveils New Rules to Make Home Loans Safer
Back in January, the Consumer Financial Protection Bureau (CFPB) released a set of rules designed to make home loans safer and involve fewer surprises. The CFPB has now introduced the concept of a “qualified mortgage,” which means you meet certain criteria and prove your ability to repay the loan. With a “qualified mortgage,” you avoid unnecessary borrowing risks, and lendershave limits on how much Read more about CFPB Unveils New Rules to Make Home Loans Safer[…]