A cooperative mortgage is like no other. Not only can the lender not foreclose on the apartment you'll live in, but the loan isn't even for actual property. When you buy into a co-op, you purchase shares of the corporation that owns the building. These shares are represented in physical form by the unit you live in; someone who lives in a two-bedroom unit in the building has purchased more shares than someone who lives in a one-bedroom unit. [Read More]
3 Things To Know About Using A Mortgage Broker
It's a situation that many future homeowners find themselves in. They're ready to buy a home but not sure how to find the best mortgage for their needs. Finding the best deal on your home loan is crucial. The better the terms of your mortgage, the more you will save in the long run. However, finding favorable loan terms on your own can be challenging, which is why many use a mortgage broker. [Read More]
Tips For Choosing The Right Mortgage Lender
One of the primary goals you may have when buying a house is to find a mortgage lender willing to give you a loan. Finding a mortgage lender is not necessarily difficult, yet you should look for the right one. How do you find the right one? Here is an explanation of how you might want to go about finding a lender when you need a loan to buy a house. [Read More]
When Is A Hard Money Loan A Good Idea?
A hard money loan offers a way to borrow money when you do not need it for a long time. People use hard money loans for real estate deals, but they are not always the best loan to take. You might wonder when taking a hard money loan is a good idea. There are some specific situations that you would want this type of loan for. Here is an explanation of when taking a hard money loan is a great move. [Read More]