This week’s most significant data offered preliminary numbers for manufacturing and services PMI (Purchasing Managers Index). Both can serve as a forward indicator for the economy while providing insight into the current state of the cost of living … [Continue reading]
Turned Down for a Mortgage? What to Do if You are Declined
If you have been declined for a mortgage, you may think that buying that new home is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about … [Continue reading]
What Are The Pros And Cons Of ‘No-Deposit’ Mortgage Deals For First-Time Buyers?
"No-deposit" mortgage deals for first-time buyers refer to mortgage options that allow buyers to purchase a home without having to put down a deposit or a down payment. Here are the pros and cons of such deals: Pros: Lower upfront costs: The most … [Continue reading]
What is a Closed-End Second Mortgage?
A closed-end second mortgage is a type of loan that allows a borrower to obtain a lump sum of money using their home as collateral. It is considered a "second" mortgage because it is taken out in addition to the borrower's primary mortgage. The term … [Continue reading]
Reasons You Need an Insurance Binder and How to Get One
When a borrower applies for a mortgage loan, the lender typically requires proof of insurance coverage before they approve the loan. An insurance binder is a document issued by the insurance company that provides temporary proof of insurance coverage … [Continue reading]
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