Modifying A Loan Due To Financial Hardship
Cornerstone Mortgage
by jWeb Media
4y ago
Death in the family, illness, loss of a job, or divorce can take a great toll on our daily lives and finances. If tragedy strikes and you are unable to afford your monthly mortgage payments and find yourself falling behind, you may be able to modify your home loan to catch up and avoid foreclosure. Up Next: Boomerang Buyer? Do This Before You Purchase A Home A loan modification is a permanent restructuring of your original loan to provide you with a more affordable payment. Here is what you need to know about modifying your loan due to financial hardship: You Need To Be Qualified Not everyone ..read more
Visit website
Know The Difference: Mortgage Banker Verses Mortgage Broker
Cornerstone Mortgage
by jWeb Media
4y ago
The time has come for you get find a lender for your mortgage. In your research, you may have come across two terms: mortgage bankers and mortgage brokers. What is the difference between these two entities and which is right for you? How do they help you? Up Next: Selecting The Best Mortgage Company In Kansas City When choosing a lender for your home mortgage, it is essential to not go with the first banker or lender you come across. Knowing the difference and finding the right lender can save you money and time. Mortgage Banker: Works In A Financial Institution A mortgage banker works in the ..read more
Visit website
Is A 15 or 30 Year Fixed Mortgage Right For Me?
Cornerstone Mortgage
by jWeb Media
4y ago
You have applied for a mortgage and are now faced with a question: Should you get a 15 year mortgage or a 30 year one? How are they different and what benefits would they have for you? Up Next: Getting A Mortgage When Self-Employed Each length of mortgage has its own pros and cons that are dependent on your current circumstances, like where you are in your life and your finances. Here is what you need to know about the differences between a 15 and 30 year fixed mortgage: Before You Begin, Consider Your Current Financial Situation Before you take the plunge, please consider your current financi ..read more
Visit website
What Is Home Equity Line Of Credit & Will It Benefit Me?
Cornerstone Mortgage
by jWeb Media
4y ago
If you need money to fund a home improvement project or have experienced an expensive medical emergency, you may have heard other homeowners talk about taking out a home equity line of credit. But what is it and how would it help you, if at all? HELOC Acts Much Like A Credit Card A home equity line of credit (HELOC) is a type of loan that essentially “turns your home into cash”. That amount you borrow can be accessed at any time via a card your lender will issue you. HELOC acts like a credit card in that it is considered a revolving loan and you can borrow any amount up to your loan limit for ..read more
Visit website
Pitfalls To Avoid When Getting A Home Loan
Cornerstone Mortgage
by jWeb Media
4y ago
Beginning the process of purchasing a home is an exciting time. You are ready to invest in one of the biggest purchases of your life and settle down in a place of your own. Congratulations! Before you plunge into the waters of homeownership, there are several pitfalls you should be aware of and know how to avoid to make the process less stressful for you: Going Through The Process On Your Own How hard can buying a home be? You just need to go to a lender, get approved for a home loan, find a home you like, and buy it. After all, hiring a Realtor only means spending more money. Right? Wrong. Bu ..read more
Visit website
How To Build Home Equity
Cornerstone Mortgage
by jWeb Media
4y ago
As a homeowner (or soon-to-be homeowner), you most likely hear this phrase a lot, “Build up that home equity!” But why build it up in the first place? Home equity is an important financial resource for you that you can take advantage of at a later date. Home equity is the amount of the home’s value that you officially own, so that value can go towards a variety of things like: Purchasing a new home Using it in a reverse mortgage for your retirement Borrowing against it to fund home improvements or college for the kids When putting your home equity towards any of these, remember that you will h ..read more
Visit website
Repairing Pet Damage Before You Sell Your Home
Cornerstone Mortgage
by jWeb Media
4y ago
Having a pet can be a rewarding experience; you get a friend and companion that can help not only your physical health, but your mental health. Unfortunately, as much as you love your companion, others may not feel quite the same way—especially when it comes to purchasing your home. As a pet owner who is selling their home, there are steps you will need to take to ensure that your home appears pet-free. Have Someone Unrelated Walk Through Your Home We like to think we know our own home best, but the longer we live in a place the more likely we are to ignore small details like that scratch in t ..read more
Visit website
Getting a Mortgage When Self-Employed
Cornerstone Mortgage
by jWeb Media
4y ago
Are you self-employed and looking to get a mortgage? You may have heard that getting a mortgage when self-employed is more difficult than those who receive a W-2 since you are considered higher risk. But don’t let that discourage you! With the right financial planning, documents, and time you can get the mortgage you need while self-employed. Keep Accurate Records As a self-employed worker, it is crucial that you keep accurate records of both your business and finances. Why? Because having good, complete records will not only help show lenders that you can make your payments, but also help you ..read more
Visit website
When Would I Need A Co-Borrower & Who Should I Choose?
Cornerstone Mortgage
by jWeb Media
4y ago
Making the decision to purchase your own home is a huge choice that should not be taken lightly. There is a lot of budgeting and other preparations you need to undergo to understand how much you can afford to borrow. If you find that you have less than perfect credit or not enough income, consider using a co-borrower for your home loan. A Co-Borrower Is Not A Co-Signer It’s important to remember that a co-borrower is different from a co-signer. A co-borrower is a co-owner and shares in your ownership of the property. Their name is on the title along with yours. A co-signer does not have intere ..read more
Visit website
Boomerang Buyer? Do This Before You Purchase A Home
Cornerstone Mortgage
by jWeb Media
4y ago
Many homeowners find themselves falling behind on their monthly mortgage payments and may find themselves foreclosing on their home. When it comes time to buy a home again, you will be considered what is known as a boomerang buyer. Why Am I A Boomerang Buyer? During the housing crisis of 2007, many homeowners lost their home to foreclosure after being lent subprime mortgages. Now, these former homeowners are at a point to be able to purchase a home again. Simply put, you are considered a boomerang buyer when you foreclosed on your home and have recovered to buy a home again. Since you have bee ..read more
Visit website

Follow Cornerstone Mortgage on FeedSpot

Continue with Google
Continue with Apple
OR