Mortgage credit certificates (MCCs) help low-income borrowers afford homes. This is done by converting a portion of interest into a non-refundable tax credit.
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Category: Mortgage Process
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Your Credit Score, Your Mortgage, and You
Having a great credit score will provide you with better mortgage options, but what happens after you acquire a mortgage? How does a mortgage affect your credit score?
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7 Tips for Reconstructing Troubled Loans
For those who haven’t experienced these kinds of issues before, let’s get back to basics. Here are seven tips for how to ease the journey of restructuring loans during difficult times.
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How to Get Pre-approved for a Mortgage
If you’re planning to purchase a home, it’s recommended that you get a pre-approval first. A pre-approval is a backing from a lender that proves you are qualified to borrow X amount of money at a specified interest rate.
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What Does a Loan Originator Do?
Perhaps the most important individual in the mortgage process is the loan originator. But what exactly does a loan originator actually do? And how do you know you’re working with a good one?
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What Happens After Closing on a Mortgage?
You've finally closed on your mortgage. Congratulations! Hopefully the process wasn't too stressful. But the journey doesn't necessarily stop here. There are few things you should know about post closing.
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Myths About Refinancing a Mortgage
Refinancing isn’t for everyone. But it can be beneficial. So it's important to know the facts. That way you can make an informed decision if refinancing is right for you.
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What Exactly Does an Underwriter Do?
You’ll probably never meet them, but the underwriter might be the most important person in the home loan process. But what exactly do they do?
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The Home Appraisal Process at a Glance
Despite being an integral part of the home buying process, appraisals isn’t typically something that home buyers are concerned with. However, it's good to familiarize yourself with the process.
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VA Loan Benefits
A VA loan is a special loan that is available to all Unites States Military Veterans. These loans are back by the Department of Veteran Affairs and have a variety of benefits.