With great power comes great responsibility â and the same can be said for loans backed by collateral. Securing a loan with an asset provides access to substantial funds while offering lenders a level of security unparalleled by unsecured alternatives. Whether youâre considering a mortgage loan, auto loan or other secured option, collateral loans empower … Read more
Fix and flip loans allow real estate investors to purchase and renovate properties for a quick resale. These short-term loans provide access to capital to cover the costs of repairs and upgrades before selling the fixed-up home for a profit. While interest rates are usually higher than conventional mortgages, fix and flip loans can be … Read more
If you’re one of the many individuals who have recently navigated the challenging process of bankruptcy, you might be wondering about the possibility of borrowing against your home equity. While bankruptcy can create significant financial roadblocks, securing a home equity loan after bankruptcy isn’t out of reach and can be a practical step toward regaining … Read more
More and more lenders are offering no-doc mortgage options to help borrowers with tricky income situations with loans to buy or refinance homes. Also called no-income verification mortgage or stated income loan, a no-doc mortgage may help you close your home loan faster, especially if you have complicated tax returns. Today’s no-income-verification mortgages come with … Read more
It took Joel and Estela Acosta a week to move everything out of their home of 16 years. Unable to afford a storage unit, the couple has moved many of their belongings to the yard of a house they’ve rented across the street. That yard is cluttered with cribs piled high with baby clothes, boxes … Read more
Nobody purchases a home intending to miss payments due to financial hardship. Homeowners will typically do anything they can to avoid defaulting on their loan. When homes go into foreclosure, those properties must be reclaimed by the lender and put up for sale in one form or another. One such type of sale involves repossessed … Read more
Non-conforming conventional loans are an important option for homebuyers who don’t qualify for conforming loans backed by Fannie Mae and Freddie Mac. While conforming loans follow strict guidelines on loan amounts and borrower qualifications, non-conforming loans offer more flexibility. In this comprehensive guide, we’ll explain everything you need to know about non-conforming conventional loans. What … Read more
Reverse mortgages allow homeowners aged 62 and older to access their home equity without having to make monthly loan payments These loans are available in two main forms – the federally-insured Home Equity Conversion Mortgage (HECM) and jumbo reverse mortgages offered by private lenders While HECMs have loan limits capped based on Federal Housing Administration … Read more
When looking to buy a high-priced home, you may need to get a jumbo loan Rocket Mortgage offers jumbo loans to help buyers purchase properties that exceed conforming loan limits set by Fannie Mae and Freddie Mac In this comprehensive guide, we’ll explain what a Rocket Mortgage jumbo loan is, what the requirements are, how … Read more
Let Real Estate Skills guide you through discovering the top hard money lenders for beginners—trustworthy and reliable sources that can provide the financial backing you need to kickstart your real estate ventures. That said, this article will explore the most important aspects of hard money loans for beginners, including: For new investors breaking into the … Read more