Why Are Investment Property Mortgages More Expensive?

Why Are Investment Property Mortgages More Expensive?

If you are in the market to buy an investment home or second home, you should know that your mortgage terms will be different. By different, we mean more costly. There’s one main reason lenders charge you more – it comes down to the risk. Compare Offers from Several...
What Does a Demand Feature Mean in a Mortgage Loan?

What Does a Demand Feature Mean in a Mortgage Loan?

Did you pay attention when you signed your closing documents? Do you know the fine print that was provided to you? If so, do you know if your loan has a demand feature? Compare Offers from Several Mortgage Lenders. Don’t worry if you don’t know, as many borrowers are...
Piggyback Loan or PMI – What’s Better?

Piggyback Loan or PMI – What’s Better?

If you are unable to put 20% down on the home you purchase, you have two options – pay PMI or take out a piggyback loan. Either way, you help lessen the risk the lender takes by providing you a loan without a large down payment. Both choices have the same end result –...
Risks Involved in Buying a House With Unpermitted Renovations

Risks Involved in Buying a House With Unpermitted Renovations

Buying an existing home can be exciting and scary at the same time. While you would hope the seller discloses everything there is to know about the home, that’s not always the case. One area they often cover-up, whether knowingly or unknowingly, is with unpermitted...