How Many Home Loans Can You Have?
Having a stable real estate portfolio is a common dream for ambitious property purchasers. After you start acquiring homes and purchase your main property, you may start wondering about the upper limit of your capability to borrow money. We get such questions often at our mortgage brokerage service at BrickWood Mortgage. Clients who successfully purchased […]
How Long Should You Keep Mortgage Statements?
At BrickWood Mortgage, we assist home buyers with various home loan issues daily. Among the most popular queries we encounter relates to the necessary paperwork. After you buy your first house, a constant flow of papers starts to arrive either through the mailbox or by email. Among the most prevalent documents to be expected are […]
What is a 5/1 ARM Mortgage and How Does It Work?
As soon as you embark on your quest to find a home, you will notice the numerous financing options available to home buyers. Although many people go for fixed-rate loans, there is another alternative – adjustable rate mortgages. As mortgage brokers with extensive experience, we at BrickWood Mortgage are well acquainted with both types of […]
When is the Best Time to Apply for a Mortgage to Get Low Rates?
A good mortgage deal can mean huge savings over the lifetime of the loan, and even a small change in the mortgage rate could lead to big savings. Many of our clients wonder whether there is a lucky day or month for submitting a mortgage application. Of course, nobody can accurately predict future developments in […]
When Do You Make Your First Mortgage Payment on a New Home?
The excitement and anxiety of owning your new home will be followed by concerns about your financial state and payment to your bank. We hear questions like this from our clients all the time. Being mortgage brokers, we are well aware of the importance of planning your cash flow properly after the purchase of a […]
Can I Get a Mortgage Without a Job and No Income?
One of the most common misconceptions when it comes to buying a house relates to joblessness and a steady paycheck. It is not uncommon for our clients to share concerns whether it is possible to buy a property without a job. In fact, the answer can be positive, but only provided you seek advice from […]
Why Does My Mortgage Keep Getting Sold and Should I Worry?
It could be shocking to open the mail and discover a notification informing you that your mortgage has been acquired by another lender. You invested a lot of time and effort into choosing a good lender initially, and now you have to send a substantial portion of money to an unknown financial institution. That being […]
Can You Refinance a Home Equity Loan Into a Mortgage?
If you’re currently in the process of paying off your primary mortgage as well as your home equity loan, then the last thing you want to think about is trying to juggle two separate mortgage payments each month. The best news is, however, that you can make your financial situation much easier by rolling your […]
Does a VA Loan Require a Home Inspection?
If you’re a veteran or active-duty military personnel looking to secure a VA loan for a home, you’ve probably heard words like “appraisal” and “home inspection” thrown around. While they may sound similar, they have very different purposes. Like SC jumbo loans and even traditional loans, it’s important to know the requirements around inspections. Does […]
Can You Buy a Foreclosure with an FHA Loan?
Foreclosed properties are a great opportunity for homebuyers who are willing to do a little extra work. The question for you, however, if you are looking at using an FHA loan to help you purchase a foreclosed home, is whether or not you can successfully combine the two. The answer is a resounding “yes,” but […]
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