Mortgage
A down payment is a sign of good faith that you, as a homebuyer, are committed to and financial stable enough to purchase a home. With many conventional mortgages, raising the funds for a down payment can be one of the last hurdles that stand in the way of worthy borrowers before they can close… [Read More]
Finding a home you’ll love may not take a village, but the process is made much easier when you have local industry professionals on your side. At Lucey Mortgage Corporation, we’re proud to be a partner in financing to clients looking for a great home and an affordable monthly payment. When it comes to finding… [Read More]
Mortgage insurance is a way that lending institutions protect themselves if a borrower defaults on a loan. Also known as private mortgage insurance, PMI and MI, mortgage insurance is typically required on mortgages when a borrower puts down less than 20% on a home loan. Once he or she achieves 20% equity through regular mortgage… [Read More]
If you’re interested in purchasing a home, getting prequalified for a mortgage can help you feel prepared as you begin to look at property. When you’re prequalified, you know that you’re eligible for a loan and how much financing you can get. A skilled mortgage professional at Lucey Mortgage Corporation will look at your income,… [Read More]
A reverse mortgage is a financing option that allows seniors to continue to live in their homes and receive cash or a credit line in exchange for their home equity. In this week’s blog, we’ll go over the basics, benefits and uses of reverse mortgage for your consideration. Like with any serious financial commitment, taking… [Read More]
If you’re interested in buying a home, one of the first things you’ve probably thought about is how much house you can truly afford. To determine how much you can afford, you’ll need to look carefully at your current finances and responsibilities and consider how they may change over the next few decades. You’ll also… [Read More]
When you sign a mortgage contract, you’re making a serious commitment to a long-term financial obligation. That being said, mortgage refinancing can help clients maintain flexibility and ensure they are on track to meet their financial goals. There are two main divisions of mortgage refinance: rate-and-term refinance and cash-out refinance. Here, the mortgage professionals at… [Read More]
Navigating the world of home financing can be an intimidating venture without the help of a skilled professional. Mortgage brokers are loan professionals who are well versed in all types of home financing. They evaluate potential borrowers’ financial status and find mortgage options for which they’re qualified. At Lucey Mortgage Corporation, we help walk our… [Read More]
For many potential homebuyers, the prospect of purchasing a home in need of TLC is a challenging and exciting proposition. “Fixer-upper” is a phrase used to describe homes with all types of rehabilitation needs, big and small. Clients purchase fixer-uppers for their own primary residences, as secondary homes and as investment properties. In this week’s… [Read More]
Welcome again to our mortgage blog, where we cover home financing basics to help you better prepare for owning a home. This week, we’ll explore the different costs you’ll encounter when you sign final documentation to secure your loan and purchase your new home. These closing costs are as widely varied in cost and item… [Read More]
