What is the difference between a HELOC and a second mortgage? Many mortgage industry terms are confusing to consumers. Multiple names often describe the same loan product or mortgage program. A second mortgage is one of those terms. A second mortgage is a loan you take out using your house as collateral while you …
Should I Get Down Payment Assistance?
What is Down Payment Assistance? Of the many steps to homeownership, the one that is often the most difficult for credit-worthy first-time homebuyers is coming up with funds for a down payment and closing costs. For example, borrowers with high student loan payments or low to middle income may not have extra cash to …
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8 reasons to purchase real estate this winter
Winter is a great time to buy Many people believe spring is the best time to buy a home, but winter is a great time to make a purchase, especially in New Hampshire. While the weather may not be as inviting, there are several advantages to buying a home during the winter months. Buying a home during winter can be a …
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What are Reverse Mortgages?
Are reverse mortgages right for you? Reverse mortgages have become an increasingly popular option for older adults in New Hampshire to use as a strategic financial tool for retirement. Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), are still a somewhat misunderstood mortgage product; …
What are Bank Statement Loans?
What is a Bank Statement Loan? For non-traditional wage earners in New Hampshire who do not receive W2 forms, getting a mortgage to buy a home can be tricky. Traditional lenders often require W2 forms and tax returns as proof of income, which makes it difficult for self-employed individuals, freelancers, contractors, …
The benefits of homeownership in New Hampshire
Buying a home in New Hampshire is a big decision that comes with a significant financial commitment. While both options have pros and cons, one factor makes homeownership an attractive choice: protecting homeowners from inflation. As we all know, the cost of living tends to increase over time, especially in major …
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