What is the difference between DSCR/DCR/DSR? These terms are interchangeable. A DSCR is an important term used to measure a property's ability to cover its debt obligation. DSCR stands for Debt Service Coverage Ratio DCR stands for Debt Coverage Ratio DSR stands for Debt Service Ratio What is a DSCR …
Benefits of a VA IRRRL
What is a VA IRRRL? A VA IRRRL loan is an Interest Rate Reduction Refinance Loan (IRRRL), sometimes called a VA Streamline loan offered by the U.S. Department of Veterans Affairs (VA). When interest rates drop, many Maryland Veterans and other homeowners with VA loans consider saving money with a refinance. The …
What is a mortgage pre-approval?
What is the Cash Ready Plus Program? A mortgage pre-approval is designed to make the homebuying process easier. Getting a fully underwritten pre-approval from Mortgage Equity Partners means your loan officer and an underwriter have thoroughly reviewed your financial position. By issuing a pre-approval letter, we are …
The importance of down payment assistance and choosing the right mortgage lender
How down payment assistance helps homebuyers In today's real estate market, buying a home can feel out of reach, especially for first-time homebuyers. One of the biggest challenges many Maryland buyers face is coming up with the funds for a down payment and closing costs. Fortunately, programs designed specifically to …
The best tips for home renovation financing
Summertime is the best time for renovations Summer's here in Maryland, and it's the perfect time to give your home that much-needed makeover. If you're a homeowner dreaming of upgrades, renovation home financing, a cash-out refinance, or a Home Equity Line of Credit (HELOC) could help you achieve your renovation …
Continue Reading about The best tips for home renovation financing
What to know about a mortgage refinance
Refinancing your mortgage-discover the benefits Refinancing your mortgage can be a strategic move to improve your financial health. There are various reasons to consider refinancing for Maryland homeowners. You may want to consolidate debt and free up monthly cash flow or access your equity for home upgrades or some …
Continue Reading about What to know about a mortgage refinance
