Can I Add My Spouse to My Mortgage Without Refinancing?
Change is the name of the game in life. You get married, you buy a home together, and then you wonder how you can ensure that both names go on the mortgage. We get this question a lot from clients who want to ensure equal rights to property ownership without the expense and inconvenience of […]
When is the First Payment on a Mortgage Due?
Congratulations on nearing the final stages of your home purchase! As you prepare to finalize your home purchase and close the deal, you might be wondering when your first mortgage payment is due. From mortgage loan programs in South Carolina to Florida, it’s important to know how it works. Understanding the payment schedule can help […]
Can I Refinance My Mortgage with a Bank Statement Loan?
Being a self-employed individual comes with a tremendous amount of freedom, but that freedom usually comes to a standstill when one goes to a conventional bank to seek a loan to refinance their home. They could be running a successful business and generating tremendous cash flow, but their taxes could be different. This creates a […]
How Often Can You Refinance a Mortgage?
Homeowners tend to track the rates of interest very closely, wondering whether they can benefit from a reduction even if they’ve refinanced their loan recently. Perhaps the most frequent question we receive at BrickWood Mortgage is simply whether there is a limit to the frequency with which a borrower may refinance a home loan. How […]
Which Credit Score is Used by Mortgage Lenders?
This is what we witness on a regular basis. A client comes to us with confidence and is ready to purchase a home because they have been shown a credit score of 760 through their mobile banking application. They have worked hard to save money for the down payment as well as manage their debt. […]
Benefits of VA Mortgage Loan: Everything You Need to Know
For many members of our military personnel and veterans, buying a home can be a daunting task. We witness this on a daily basis in our line of business at BrickWood Mortgage. With down payments, interest rates, and credit scores to worry about, it can be intimidating. But fortunately for our veterans, there is a […]
How Fast Can You Refinance a House with a Conventional Mortgage?
Purchasing a home is one of life’s biggest financial accomplishments. You invest months in hunting for your dream home, preparing paperwork, and eventually signing a huge pile of paperwork at closing. But the mortgage industry is dynamic. Your interest rates may vary, your credit rating may improve, or perhaps your house appreciates in value shortly […]
Can You Use an FHA Loan for an Investment Property?
We have all seen it before with new real estate investors. You locate a piece of property that has amazing potential, but you do not have the twenty percent down payment for a traditional investment loan. Not surprisingly, your immediate thoughts turn to FHA loans. Because FHA loans have low down payment requirements and flexible […]
HECM Program Pros and Cons: Is a Reverse Mortgage Right for You?
As mortgage brokers, we frequently meet with clients who have dedicated many years to establishing a life and a home. They have reduced their mortgages and have built up a tremendous amount of equity in their properties, but they are struggling with cash flow issues when they go into retirement. They can be described as […]
What Income Do You Need for a $800,000 Mortgage: Payment Guide
Purchasing a home can be one of the most extensive and critical financial transactions in your lifetime. With rising values of properties, bigger loans such as the $800,000 mortgage will not be surprising. The problem with acquiring a huge loan such as $800,000 is that the lender will verify your financial capability of repaying the […]
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