Author Archives: theloanman

  When you obtained your mortgage loan you may have been given a choice between a 30-year payoff and a 15-year payoff. Perhaps you could have afforded the payments on a 15-year note, but wanted the security of the lower … Continue reading →

  Here’s what you need to know before you decide to add your name to that dotted line. First, what does co-signing really mean? At the bottom line, it means you are accepting full responsibility for making the loan payments.  … Continue reading →

  When you apply for a mortgage loan to buy a home, the better your credit score, the better interest rate you’ll get. So even if your score is good, it pays to make it better. If your credit is … Continue reading →

Unless you’re independently wealthy, shopping for a home means taking out a mortgage loan. Wise consumers shop for the loan before they shop for the house. Why? Because there are several types of home loans, and because different lenders offer … Continue reading →

Every state but New Jersey offers homeowners the opportunity to file a homestead tax exemption, which lowers the taxable value of our homes for property tax purposes. As the name “homestead” indicates, this tax break is available on your primary … Continue reading →

  Whether or not you should pay down your mortgage depends upon your plans and the other circumstances in your life. Let’s take a look at the pros and cons. First, the pros… Your mortgage will be paid off sooner. … Continue reading →

  More than one home buyer has been startled to read the APR on their loan closing statement and see that it isn’t the same as their quoted interest rate. They react with “Wait a minute! This isn’t right!” What … Continue reading →

What is a bridge loan, and why would you want one? Bridge loans aren’t common, and they definitely aren’t for everyone. But in the right circumstances, they’re a useful tool. What is a bridge loan? A bridge loan is a … Continue reading →

  When you’ve found the home you want to purchase, you’ll sit down with your real estate agent to fill out the required paperwork. One of the primary questions, after the price you’re offering and the amount of your down … Continue reading →

Whether you’re considering your first home purchase or are ready for a change, you may be considering both existing homes and new homes. Which costs less? Which will give you more of what you want in a home? Which will … Continue reading →