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Advantage Mortgage Corporation

Advantage Mortgage Consulting Award Ceremony 2005

Mortgage Matters column: Active real estate market creates mortgage opportunities for homeowners

As the 2017 real estate market continues to remain active and strong in Eagle County, with properties going under contract and closing quickly, potential buyers must act quickly to take advantage of opportunities if they are interested in buying homes.

Such circumstance often creates appreciation in property values. The Vail Valley has a wide range of property types and values, but I would say more or less across the board that values are rising due to the recent sales activity in the market. For those who already own their homes, increasing property values create opportunities that should not be forgotten or overlooked.

For homeowners with mortgages in place, rising property values open doors for them to refinance their existing loans, where a lack of equity or down payments may have previously been a problem. For example, those homeowners who used mortgage insurance in lieu of a 20 percent down payment to buy their homes may now have the required 20 percent equity to eliminate the mortgage insurance premium altogether.

Know the True Cost of a Reverse Mortgage

By Alain Valles, CRMP, MBA, CSA

You’ve heard the word reverse mortgage and likely know that for those who qualify they can receive a lump sum of cash, a monthly stream of cash, a line of credit that grows over time, or any combination of the three. All without ever being required to make a monthly payment for the rest of their lives as long as the real estate taxes and insurance are paid and other guidelines met.

But, the perception persists that reverse mortgages are expensive. With improvements to the program, the cost of many reverse mortgages has dropped by over 30 percent. And in some cases, there are no closing costs. But “cost” should be viewed in terms of your goal to be financially independent, stay in your home, and have peace of mind about your financial future. Below are the most important “cost” issues to consider.

Cost compared to a traditional mortgage

Obtaining a conventional loan is not always less expensive. If you currently have a large mortgage balance the cost of a reverse mortgage can often be substantially reduced. If you have no mortgage than the reverse mortgage will likely be more expensive than a traditional refinancing. The good news is the upfront out-of-pocket costs are very similar.  Another advantage of a reverse mortgage are the more lenient qualification guidelines.  There are even options for those with lack of income or poor credit histories.

Intereste only mortgage for Corporation?

This question is for individuals who have corporations or are familiar with them or a mortgage broker. I would like look into an interest only mortgage that i can underwrite through my corporation.

This isn't going to be a popular answer, but its a smart one. If you're talking about investment properties(buying and selling properties for income), you really need to build up money to pay for those properties with cash.

Автовинил и тонировка автомобиля в спб автовинил в спб.