0
What else can I help you with?
What is second home mortgage?
A second home mortgage is a loan that you take to purchase your second home.
What are the equity requirements for obtaining a home equity loan?
Equity requirements for obtaining a home equity loan typically involve having a certain amount of equity in your home, usually around 15-20 of the home's value. This means that the value of your home must be higher than the amount you owe on your mortgage. Lenders may also consider your credit score, income, and other financial factors when determining eligibility for a home equity loan.
Where can one get information on obtaining a mortgage?
One can get information about obtaining a mortgage from: Realtor, This is Money, Nationwide, Mortgage Calculator, Bank Rate, Home Loan Learning Centre, Forbes, National Consumer Agency, to name a few.
How does obtaining a Home Equity Line of Credit (HELOC) impact Private Mortgage Insurance (PMI) on a mortgage?
Obtaining a Home Equity Line of Credit (HELOC) can impact Private Mortgage Insurance (PMI) on a mortgage by potentially allowing you to eliminate the need for PMI if you use the HELOC to reduce your mortgage balance below the required threshold for PMI.
What are the dangers of a second mortgage foreclosure?
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
What is second home mortgage?
A second home mortgage is a loan that you take to purchase your second home.
What are the equity requirements for obtaining a home equity loan?
Equity requirements for obtaining a home equity loan typically involve having a certain amount of equity in your home, usually around 15-20 of the home's value. This means that the value of your home must be higher than the amount you owe on your mortgage. Lenders may also consider your credit score, income, and other financial factors when determining eligibility for a home equity loan.
Where can one get information on obtaining a mortgage?
One can get information about obtaining a mortgage from: Realtor, This is Money, Nationwide, Mortgage Calculator, Bank Rate, Home Loan Learning Centre, Forbes, National Consumer Agency, to name a few.
Is it possible to remortgage a home through Advisor Mortgage Group?
Advistor Mortgage Group offers a full range of mortgage services. This includes remortgaging one's existing home, as well as obtaining a first mortgage.
How does obtaining a Home Equity Line of Credit (HELOC) impact Private Mortgage Insurance (PMI) on a mortgage?
Obtaining a Home Equity Line of Credit (HELOC) can impact Private Mortgage Insurance (PMI) on a mortgage by potentially allowing you to eliminate the need for PMI if you use the HELOC to reduce your mortgage balance below the required threshold for PMI.
Can a second mortgage put a lien on a home that is not foreclosed but I owned as a primary home however since foreclosure the first mortgage was paid its full amount and the second mortgage nothing?
A second mortgage already has a lien on the home. If you don't pay the second mortgage they will foreclose and take the home. By paying off the first mortgage you just make it easier for the bank to get their money back out of the property when they sell it.
What are the dangers of a second mortgage foreclosure?
The biggest problem with second mortgage foreclosures is that you can lose your home even if you are still current on your first mortgage. The second mortgage, if defaulted on supersedes you first mortgage.
What is the loan procedure for obtaining a mortgage?
The loan procedure for obtaining a mortgage involves applying for a loan with a lender, providing financial information and documentation, undergoing a credit check, getting pre-approved, finding a home, getting the home appraised, finalizing the loan terms, and closing on the mortgage.
What are the benefits of obtaining a 125 mortgage?
The benefits of obtaining a 125 mortgage can vary depending on the state which one resides. The main benefit is that a consumer might be able to borrow up to 125% of the value of one's home.
If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
Where can one get advice on obtaining a mortgage loan when one has a bad credit report?
Advice for obtaining a mortgage loan when one has bad credit can be obtained from bank or mortgage companies such as Wells Fargo or Bank of America Home Loans. Information can also be found on the websites Mortgage Digger and Quicken Loans.
What are the benefits of obtaining a preapproved mortgage before starting the home buying process?
Obtaining a preapproved mortgage before starting the home buying process can help you understand how much you can afford, make your offer more attractive to sellers, and speed up the closing process.
