Topic : Loan Basics
Top 20 Social Networking Websites
by Sharon Hassler, Founder/Webmaster, GoGetNotary.com
Below are 20 of the top social networking sites but there are many more. Trouble is you can get spread too thin and the key is frequent and informative posts. Check out these sites, visit the forums/communities for tips. Decide which ones appeal to you and post your profile; select only one or two for [...]
7 Ways to Accumulate a Down Payment
by Fidelity National Title Insurance Company
One of the biggest problems facing potential buyers today is coming up with enough money for the down payment and closing costs. The amount of money you have available can greatly limit or increase your purchasing power. Rather than saving all of the money yourself, there are options that may help. [...]
Mortgage/Home Loan Abbreviations
by Sharon Hassler, Founder/Webmaster, GoGetNotary.com
Confused by some of the abbreviations in the information you receive from your loan officer or mortgage broker? Here are many of the common abbreviations used today. If you have any questions about documents from your lender, do not hesitate to ask for clarification. Your loan originator wants you to understand your loan program. An [...]
Reverse Mortgage Basics
by HUD, U.S. Department of Housing and Urban Development
The Home Equity Conversion Mortgage or FHA-Insured Reverse Mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home. The loan, commonly known as HECM, is funded by [...]
How Home Appraisal Values Are Determined
by John Moran, Senior Loan Officer
I hear the following statement at least five times a day, “My neighbor’s house is listed for X and mine’s bigger, so my house must be worth Y.” Replace X and Y with values that make sense in your neighborhood and you’ve probably heard it too. For this reason, I am going to go over [...]
9 Steps of the Loan Process
by Sharon Hassler, Founder/Webmaster, GoGetNotary.com
1. Where to Find a Loan Officer
We can’t stress enough the importance of finding an experienced, reliable loan officer or mortgage broker. Start with a referral. Ask your family, friends, co-workers, real estate agent, attorney or accountant. Review the loan originators on GoGetLoan.com, too. Banks, credit unions, mortgage companies, and mortgage brokers are all sources [...]
Mortgage or Home Loan Basics
by HUD, U.S. Department of Housing and Urban Development
(1) What Is a Mortgage?
(2) What Is Loan to Value (LTV)
(3) What Types of Loans Are Available and What Are the Advantages?
(4) When Do Adjustable Rate Mortgages (ARMs) Make Sense?
(5) What Are the Advantages of 15- and 30 Year Terms?
(6) Can I Pay Off My Loan Ahead of Schedule?
(7) Are There Special Mortgages for [...]