Posted in Loan, Mortgage by: admin
Comments Off
24 Mar
Mortgage loans can normally be categorized according to three categories, depending on how they are handled by the lender after closing: ● Portfolio ● Conforming ● Non-conforming A portfolio loan is kept by the lender in its “portfolio” rather than sold to the secondary mortgage market. Conforming loans, which normally have the best rates and [...]
Posted in Mortgage by: admin
Comments Off
23 Mar
If the borrower in a refinance has at least two mortgages—both a first mortgage and a second mortgage—on the subject property, that borrower will have three refinancing options, which have different challenges: ● Consolidation. The borrower may choose to pay off both loans with a new refinance loan. This refinance loan in effect consolidates the [...]