Mortgage News, Tips and Resources

There are many reasons to refinance your Long Island home. Since interest rates are relatively low, this could save you a lot of money.

For first-time home buyers, consider the type of property you want to purchase, get pre-approved for a mortgage, and work with a realtor.

Some benefits of reverse mortgage includes being able to get rid of your mortgage payments and making your retirement benefits go further.

The average closing costs on a home vary depending on the region in which you live in. For example,in New York, the average is $2,500-plus.

Reverse mortgages allow you to convert some of your home's equity into cash to help pay off your current mortgage or any outstanding debt.

Owning a multi-family home has its benefits, but do your research first. Consider the property's size and the idea of being a landlord.

VA loans are a type of mortgage loan specifically designed for veterans and their families to help them purchase a home.

USDA loans are government-backed home loans designed by the United States Department of Agriculture for low-income buyers.

When it comes to getting a mortgage pre-approval, be ready to provide proof of income, confirm your employment, among other things.

USDA home loans are mortgage loans for low-income borrowers in rural areas. In order to qualify, you must meet certain requirements.

Some things to look for when buying a house include: making sure the home is insulated and checking the heating and cooling systems.

According to Livability, Fort Collins, Colorado, Madison, Wisconsin, and Ventura, California are among the best places to live in 2017.

You must meet certain criterion to be eligible for a USDA loan. For example, you must have two years of steady income.

When applying for an FHA home loan, you are required to share certain financial documents, such as recent tax returns, to your lender.

Buying a fixer upper has its advantages, but it is not for every. Ask yourself if you are willing to take on the work and spend the money.

Only you can choose if living in the multi-family home you're renting out is right for you. Consider the pros and cons of both options.

You are not required to use your current lender to refinance your mortgage loan, so research your options before making a decision.

As a first-time home buyer on Long Island, you will be in a place of informed decision-making with these important tips.

Benefits of debt consolidation include making fewer payments each months at lower rates and keeping your credit score from dropping.

To find out if a reverse mortgage is a good idea, consider your moving plans and your heirs. And always contact a mortgage specialist.