Will Mortgage Rates Go Down in 2024?
GENERAL LOAN INFORMATION Will Mortgage Rates Go Down in 2024? Mortgage rates have spiked in the past few years. The average 30-year mortgage rate in the United States reached over 8%, and house prices keep climbing while there are fewer houses up for sale. So, what do the mortgage experts say—will mortgage rates go down […]
How Long Do Mortgage Pre-Approvals Last
GENERAL LOAN INFORMATION How Long Do Mortgage Pre-Approvals Last? As you navigate the home buying process, you’ll have to wait for your pre-approval from a mortgage lender before you can make offers on homes. The letter plays a major role in the types of homes you could purchase, so you might wonder, “How long do […]
How Does Reverse Mortgage Work?
GENERAL LOAN INFORMATION How Does Reverse Mortgage Work? Understandably, many seniors struggle with their income from month to month. With the average social security barely enough to live on, seniors are increasingly turning to other methods to boost their retirement income, such as reverse mortgages. But how does reverse mortgage work? Below, Champions Mortgage explains […]
Conventional Loan from a Bank or Private Lender
GENERAL LOAN INFORMATION Many people finance their home purchase with a conventional loan from a bank or private lender. Unlike an FHA loan, conventional loans allow more freedom with the property. However, these loan agreements also tend to include higher interest rates and larger down payment requirements. Are you selling your house before you’re finished […]