Equitylines: Advantages and Disadvantages
A Home Equity Line of Credit (also known as a “HELOC” or “equityline”) can be an excellent financial tool for the right person, and a very imprudent one for the wrong person. As with everything, there are advantages and disadvantages to consider, which I will briefly...Jumbo Loan with 10% Down Payment Options
More Jumbo loan options with less than 20% down payment are becoming available. When our housing bubble burst and we got hit with the credit crunch in 2008, it was hard to find a competitive Jumbo loan, and nearly impossible to find one with less than 20% down. This...Family Opportunity Mortgage: Helping Your Elderly Parents or Disabled Adult Child Purchase a Home
This post was updated on 4/24/15 to reflect updated information. Not many people know about this Fannie Mae mortgage program, so please keep it in mind as an opportunity. Fannie Mae’s Family Opportunity Mortgage helps families buy or refinance a home for elderly...Fixed Rate Mortgage Term Options
The 30 Year Fixed loan program is the most common program chosen by homeowners. It provides fixed, secure payments at the same interest rate and mortgage payment for the life of the loan (30 years). But there are other options for fixed rate term mortgages that not...Jumbo Loan with 10% Down Payment?
Back in the day, we only had a conforming loan limit (currently $417k), and any loan amount above that was considered Jumbo. Now we have three levels of loan limits and down payment requirements for Conventional loans. (FHA will allow 3.5% down payment up to a...Loan Calculator
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