Finance of America is a mortgage lender that offers a variety of loan options for homebuyers. These include fix and flip loans, single-family rental loans, and student loan refinancing. There are pros and cons to each loan type, so it’s important to shop around before selecting one. There are different mortgage companies and requirements, so…
If you’re looking for a mortgage lender that offers flexible loan options, Newrez may be the lender for you. They allow you to apply online and upload documents directly to their secure portal. Once you’ve submitted your documents, you will be provided with an electronic closing package to sign. The company also offers competitive loan…
This Prime Choice Funding review looks at the company’s loan approval and pick rates. The company has an above-average approval rate, but its pick rate is below average. The company also charges average fees for loans, which include closing costs and other borrowers’ costs. Nonetheless, Prime Choice Funding is an easy company to work with….
The FICO Score is a number that represents your credit worthiness. It is calculated from information in your credit report and is based on factors like the length of time you have had credit and the amount of credit you’ve used. This information helps lenders make smarter decisions when approving credit. Fortunately, there are some…
Housing Affordability refers to housing that is affordable to low-income households. It is determined by using a nationally recognized affordability index. There are different methods for determining housing affordability. This article discusses the limitations of the conventional methods. It also covers the impact of cost burden on affordability. After reading this article, you will be…
A Loan Amortization Schedule is a statement of monthly payments that a borrower makes throughout the life of the loan. It shows the scheduled payment amounts for every month of the loan and shows how each payment will affect the principal balance. In addition to the scheduled monthly payments, the amortization schedule also shows the…
An ARM, or adjustable rate mortgage, is a mortgage where the interest rate can increase over time. Most ARMs have a cap on how much the interest rate can increase over the life of the loan. The caps vary by lender and credit grade. In most cases, the cap will be 1% above the start…
A Loan Amortization Schedule is a statement of monthly payments that a borrower makes throughout the life of the loan. It shows the scheduled payment amounts for every month of the loan and shows how each payment will affect the principal balance. In addition to the scheduled monthly payments, the amortization schedule also shows the…
