What the HECM:  Understanding A HECM Home Equity Conversion Mortgage

Learn all about What the HECM in this comprehensive guide. Understand the ins and outs of Home Equity Conversion Mortgage, its benefits, eligibility, and frequently asked questions. Get expert insights and valuable information to make informed decisions.

 

If you are a homeowner who's at least 62 years old, you might have heard about a financial product called a Home Equity Conversion Mortgage (HECM). But what is a HECM, a...

A mortgage escrow account is an account established by a mortgage lender to hold funds collected from a homeowner to pay for property taxes, homeowner's insurance, and other related expenses. The following items are typically included in a mortgage escrow account:

Property taxes: The lender will collect a portion of the homeowner's property taxes each month and hold them in escrow until the tax bill is due. Homeowner's insurance: The lender will collect a portion of the homeowner's insuranc...

At some point during the process of buying a home, the buyer will come across the term "closing costs." Closing costs are expenses incurred during the purchase of a property that are not included in the sale price. These costs are typically paid at the time of closing and can add up to thousands of dollars. Typically we use 3.5% of the accepted offer price as a rule of thumb. Check with your lender for the most accurate number. As a buyer, it's important to understand what items are included in...

 

What is the Inspection Process When Purchasing a Home? Buying a home is one of the most significant investments you will ever make, and it is essential to ensure that you make a sound investment. A home inspection is a crucial part of the home-buying process. It is a visual examination of a property's physical structure, mechanical systems, and overall condition, providing buyers with an objective and unbiased evaluation of the property's condition. In this article, we will discuss the inspec...

Home Buying 101: The Mortgage Process

If you are thinking about buying a home, then understanding the home buying mortgage process is essential. Mortgages are loans that are taken out to buy a property, and they are a major financial commitment that requires careful consideration. In this article, we will explain the home buying mortgage process step-by-step, so that you can make informed decisions about your home purchase.

Step 1: Pre-Approval The first step in the home buying mortgage process...

Home Buying 101: A Comprehensive Guide

Are you planning to buy a home? If so, congratulations! Homeownership is a significant milestone that comes with many benefits, such as stability, equity, and personalization. However, buying a home can also be an intimidating process, especially for first-time buyers. That's why we've created this comprehensive guide to help you navigate the home buying process with ease.

Step 1: Determine Your Budget

Before you start house hunting, you need to determine...

Empty Nester? Want to downsize? 

I can Help get you into your new Home!! 

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An "empty nester" is someone whose children have grown up and left home, often leaving the parent with more space than they need. Downsizing is the process of moving to a smaller home or getting rid of excess belongings to simplify your living space. Here are some tips for downsizing as an empty nester:

Start with a plan: Take a good look at your current living space and make a plan for what you wan...