A VA Loan is a mortgage loan that is available through the program developed by the United States Department of Veterans Affairs (VA). These Mortgage loans are only available to qualified borrowers as a part of their military benefits, generally, this includes active-duty service members, and veterans however in some cases spouses may be qualified. … Read more
The Federal Housing Administration or FHA Mortgage is a home loan that is insured by the government, issued by banks or other lenders, and approved by an agency. The FHA Mortgage Loans are government-backed mortgages with looser financial requirements that allow borrowers to purchase their dream home. The borrowers can qualify for the FHA Mortgage … Read more
A Reverse Mortgage is a type of home loan that allows homeowners ages above 62 years to borrow against their home’s equity. It is similar to a traditional mortgage and allows homeowners to borrow money using their home as security for the Loan. however, unlike the traditional mortgage, with the reverse mortgage loans the borrowers … Read more
A Jumbo Mortgage or Jumbo Loan is a Mortgage used to finance high-valued properties that are above the Federal Housing Finance Agency (FHFA) loan limits. The Jumbo Mortgage is also known as a non-conforming loan since it exceeds the conventional local conforming loan limits as determined by the Fannie Mae, Freddie Mac, and FHFA enterprises. … Read more
Government-insured Mortgage Loans are a type of mortgage loan that is insured by the agency of the Federal Government. The government-insured loans or government-backed mortgage program is when the private-sector lender issues the loan to the borrowers and the government insures or guarantees it. The insurance or guarantee means that the mortgage lender is protected … Read more
A Conventional Mortgage or Loan is a mortgage loan that is not backed by a government agency. These Mortgage Loans come in every shape and size and they do not provide some of the benefits such as VA, FHA, or USDA loans, these loans remain the most common type of mortgage loan. Conventional mortgage Loans … Read more
A Fixed-Rate Mortgage is a type of Mortgage Loan where the interest rate remains the same throughout the Loan Term. Fixed-rate mortgage refers to a Home loan that has fixed interest rates which means that the mortgage carries constant interest rates from the start to the end. Fixed-rate Mortgages are the most popular products for … Read more
Adjustable-rate mortgages or ARM are the type of mortgage that offers variable interest rates on every period’s outstanding balance on the Loan. It is the type of Mortgage Loan that carries an interest rate that is constant at first but changes over time. when the period is over then the interest rate will change at … Read more
PHH Mortgage Corporation is a non-bank lender that has provided Mortgage Services since 1984. It is the subsidiary of Ocwen Financial Corp, which acquired the PHH Mortgage in 2018. PHH Mortgage offers plenty of mortgage services including conventional loans, FHA, VA loans, and refinancing. PHH Mortgage is headquartered in Mount Laurel, New Jersey. With PHH … Read more
A Mortgage is a Type of Loan that is used to purchase or maintain a home, plot, or any other type of real estate. A Mortgage is also referred to as the Mortgage Loan and it is the agreement between borrowers and mortgage lenders. The mortgage is the written agreement that gives the lender the … Read more