by Linda | Apr 23, 2023 | Home Loan Basics, Notary Services
A reverse mortgage is a type of loan available to homeowners who are 62 years of age or older. It allows homeowners to access the equity in their homes without having to make monthly mortgage payments. Instead, the loan balance increases over time and is repaid when...
by Linda | Apr 16, 2023 | Home Loan Basics, Notary Services
Home equity loans are a type of loan that allows homeowners to borrow money against the equity in their homes. Equity is the difference between the market value of a home and the outstanding mortgage balance. Home equity loans can be a convenient and flexible way for...
by Linda | Apr 9, 2023 | Home Loan Basics, Notary Services
Construction loans are a type of short-term loan that is designed to finance the cost of building a new home or remodeling an existing one. The purpose of a construction loan is to provide the funds necessary to complete the construction project and make the property...
by Linda | Apr 3, 2023 | Home Loan Basics, Notary Services
An adjustable-rate mortgage (ARM) is a type of home loan where the interest rate changes periodically over the life of the loan. This type of mortgage loan is different from a fixed-rate mortgage, where the interest rate stays the same throughout the life of the loan....
by Linda | Mar 20, 2023 | Home Loan Basics, Notary Services
USDA (United States Department of Agriculture) rural development loans are a type of government-backed home loan designed to help low- and moderate-income families purchase a home in rural areas. These loans offer many benefits to borrowers, including low interest...
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