Initially founded in 2011 as a provider of student loan refinancing options, SoFi did not enter the mortgage market until 2015. Headquartered in the infamously expensive real estate market of San Francisco, the online-only lender targets young urban professionals who have stable incomes but little in the way of savings, offering jumbo loans that require […]
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Third Federal was founded in 1938 in Cleveland, OH as a mutual association. It offers loan products in 21 states and the District of Columbia through 21 full-service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 17 branches throughout the state of Florida. Third Federal offers a selection of home […]
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When it comes to the home buying process, most first-time homebuyers are surprised to learn that their mortgage payment includes more than principal and interest on their home loan. They also have to pay a certain amount of funds into a mortgage account every month. These accounts are called escrow accounts, and theyâre used to […]
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Ready to buy a home but are confused on some of the mortgage terms? The language used to describe this process can be tricky to decipher, especially when it comes to mortgage terminology. One term that you wonât hear as often as some of the others is blanket mortgage. A blanket mortgage may seem complicated, […]
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The classic 30-year mortgage is the most popular â and most affordable â mortgage in America. About two-thirds of U.S. home buyers choose this option, according to the Mortgage Bankers […]
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Founded in 1976 and taking the name Costco in 1983, this national warehouse club retailer has become a favorite for members due to the balance of price and product quality offered. The Mortgage Program for Costco Members allows both members and non-members to enjoy the use of its home loan marketplace. Its partnership with many […]
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Itâs no secret that there is a lot of confusion surrounding mortgages. One of the main gripes is that requirements arenât the same across different banks and lenders. See why every mortgage lender will disappoint you for more on that. Unfortunately, itâs very difficult for lending standards to be uniform from bank to bank because… Read More »Why Your Mortgage Lender Asks for More Than Is Required
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Summit is Wisconsin’s largest credit union. Founded in 1935, the mortgage lender grew considerably after several mergers with other credit unions within the state. Summit now has over 168,000 members throughout Wisconsin and 34 different branch locations. The credit union offers fixed- and adjustable-rate mortgages, FHA, and VA loans. With flexible loan options and a […]
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Earlier this week, the Consumer Financial Protection Bureau (CFPB) took action against a biweekly mortgage company that apparently lured consumers with false promises of mortgage savings. In the suit, the CFPB claims Nationwide Biweekly Administration, Inc., Loan Payment Administration LLC, and owner Daniel Lipsky misrepresented the savings consumers could achieve via his program. Additionally, consumers… Read More »Why You May Want to Avoid Biweekly Mortgage Programs
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No, you canât get a 40-year mortgage. So why was that search trending on Google? MarketWatch