How to use a reverse (HECM) mortgage to purchase a new home.
Category: Mortgages
Qualify for a mortgage with rent payments
Qualify for a mortgage through a consistent rental history through Fannie Mae's new underwriting guidelines
Reverse Mortgage to Purchase
HECM for Purchase is a reverse mortgage that allows seniors to purchase a new principal residence using proceeds from a reverse mortgage.
The Fed May Meeting
The Fed promised, and they delivered. At their most recent meeting, the Fed moved policy rates up by 0.5%, just as they've been saying. Because it was expected, interest rates had moved in advance, including those for home mortgage loans. For the time being mortgage rates eased but they...
Preparing for your mortgage application
Save yourself some time.One thing you can do now to prepare for the day you're ready to make an offer on a home is plan for the accounts, documentation and resources you'll need when you file a mortgage loan application.Below, I’ve spelled out some actions you can take now and...
Choosing the right mortgage.
There are a variety of mortgage choices available to you and the option you choose should be the one that best fits your needs and your financial situation. Competition among lenders is good for you as a borrower. It is wise to shop around and not limit yourself to a...