When you first opted for a reverse mortgage, it might have felt like the perfect solution to tap into your home equity and enjoy your retirement without monthly mortgage payments. As time passes, your financial situation, goals, or the market itself can change, making you wonder:
Hard Inquiry vs. Soft Inquiry — What’s the Difference?
Most people know that your credit score can drop if you miss a payment or have a new collection filed against you. But how about when you apply for new credit? Yes, a credit application will trigger a “hard inquiry” on your report, which can have an impact on your credit score. Here’s what to know about hard inquiries, and how they compare with “soft inquiries.”
Understanding Warrantable vs. Non-Warrantable When Purchasing a Condo
When you’re shopping for a condo, there’s a bit more on your plate than just the typical homebuying concerns like credit scores, interest rates, and loan programs. A crucial aspect is understanding the role of the Homeowners’ Association (HOA) and whether the condo is warrantable or non-warrantable. This distinction can significantly impact your mortgage process and future as a condo owner.
What’s Ahead For Mortgage Rates This Week – July 15th, 2024
With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release.
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