Blog Archives

Hazard Insurance

Hazard Insurance

By law, hazard insurance which is also referred to as Homeowners Insurance (HOI) is required on every home in which there is a mortgage loan.  Having proper coverage in not only important for protecting the homeowner, but also for protecting the lender; therefore, before a lender approves any loan, this particular item is thoroughly examined.  Let me discuss further.  Read the rest of this entry

Construction & Interest Only Loans

Construction & Interest Only Loans

As our housing market continues to bounce back from the most recent economic recession, there has been a sharp increase in new construction homes again.  This has lead to the popularity by consumers who are in need of construction loans.  A construction loan does not have your typical terms that one would find in a conforming loan; rather it is structured similarly to an interest only loan.  I will briefly discuss both loans.  Read the rest of this entry

Home Equity Conversion Mortgage (HECM)

Home Equity Conversion Mortgage (HECM)

In recent economic times, exotic home loan products have become increasingly more common.  As there are shifts in the economy, certain home loan products start to become more popular.  One of these products in particular caters to a certain niche in the market and has been found throughout the state of Florida.  This would be because of who qualifies for this type of home loan.  This home loan product is called a Home Equity Conversion Mortgage. Read the rest of this entry

Balloon & Home Equity Line of Credit Loans

Balloon & Home Equity Line of Credit Loans

Today I am going to discuss two very popular loan products that I come across that people have in today’s market.  These products are balloon loans and home equity line of credits, also known as a HELOC.  In past blogs I have discussed why these types of products are not always a good thing to have, but in this blog I will just discuss the aspects behind the product themselves.  Read the rest of this entry

Hybrid Adjustable Rate Mortgage (ARM)

Hybrid Adjustable Rate Mortgage (ARM)

In the past two blogs I discussed several loan products most commonly found in today’s mortgage environment.  Depending on ones personal finances or goals, there are some other loan products that one might also consider.  These products will finish my discussion pertaining to adjustable rate mortgages (ARM). Read the rest of this entry