Category: Mortgage Terminology (9 posts)
What is the difference between Alternative Lenders vs Private Lenders?
January 24, 2025 | Posted by: Sherry Corbitt
If you are being offered a mortgage and the term Alternative lender is being said, what does that mean? We commonly break a mortgage into three levels dependent on credit, equity, ability to repay the ... [read more]
How a Reverse Mortgage Can Allow You to Retire
January 24, 2025 | Posted by: Sherry Corbitt
Reverse mortgages have been a topic of conversation for some time now. Many debate whether a reverse mortgage can help some even to retire. With just a few points, you can be assured that a reverse mo ... [read more]
What You Need to Know About If You Co-Sign
January 24, 2025 | Posted by: Sherry Corbitt
There are times when a borrower either doesn’t have a good credit history or cannot afford to get a mortgage because of their debt-to-income ratio. Sometimes, it’s not because of defaulted ... [read more]
The Mortgage Process
January 24, 2025 | Posted by: Sherry Corbitt
If you have never had a mortgage before, you may not be familiar with the process. There are many different steps involved in the entirety of your mortgage. Of course, every mortgage will be different ... [read more]
How Lenders Determine Your Affordability and What You Can Do
January 22, 2025 | Posted by: Sherry Corbitt
In the mortgage world, there is often talk about the debt to income ratio. It is essential that it can make or break your chances of getting a mortgage with an A or B lender. Qualifying for a loan d ... [read more]
Closing Costs
January 17, 2025 | Posted by: Sherry Corbitt
With any home loan, there will be some closing costs involved. Of course, there may be fewer or more costs depending on what type of loan you have. Typically though, closing costs will be between 1-5% ... [read more]
Why use a Mortgage Broker?
January 17, 2025 | Posted by: Sherry Corbitt
You may have seen me post about rates or finding you the best product for your needs, but what does that even mean? As a Mortgage Agent, I am licensed to broker mortgages. Meaning I represent you when ... [read more]
Do You Know These Common Mortgage Terms?
January 17, 2025 | Posted by: Sherry Corbitt
When you apply for a mortgage or a mortgage pre-approval, there are several terms that you will hear. The following is an explanation of some standard mortgage terms: Fixed-Rate A fixed interest rat ... [read more]
What is a Home Equity Line of Credit?
December 4, 2024 | Posted by: Sherry Corbitt
A home equity line of credit (HELOC), is a loan available to homeowners once they purchase a property. Individuals can apply for this loan, by offering collateral of the equity in their home, which if ... [read more]
