Mortgages You Can Apply for Doing Home Renovations

You can apply for a mortgage for doing home renovations. Whether is an extreme need, like a leaky roof, or an huge crave (remember that carpet you saw the other day?), there are renovation loans that can help pay for your home renovations. Today, we wanna share mortgages you can apply for doing home renovations, these being government-backed renovation loans or private home renovation loans. Government-backed renovation loans Fannie Mae’s HomeStyle Loan This is one of the best-known loans for…

What Should Be Included In Your Mortgage Closing Disclosure

What has to be included in the documents of your mortgage's closing disclosure?

Before a mortgage deal closes, your lender should provide you with a document of a least five pages. Within it, you’ll find the explanation of final details about the mortgage loan you have selected, so it is easier to understand. This file is known as a mortgage closing disclosure. In general, a closing disclosure includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs, for example. After you receive it, you…

Combining Mortgages from Two Properties into One

Advantages and downsides of consolidating two mortgages.

As we always tell you, having debt is not a negative thing if your financial sacrifices in the years to come are due to a mortgage. Buying a house is an investment for your future and a great way to gain stability. Being said that, if you have more than one property, you may want to simplify your monthly bills into one. In the US, that method is implied when combining two mortgages. In this article we will take you…

Everything You Need to Know about Your Mortgage Down Payment

Reasons why down payments are necessary

Impress your lender and your real estate agent with legit mortgage knowledge! Because when you are making one of the most significant purchases in your life, the more you know about the process, the better. In Intercorp Mortgage Solutions we are always looking forward to tackling all those questions that go through your mind regarding this matter, so keep reading! Down payment basics Saving for a down payment must be in your checklist, as it is an obligation to settle…