The importance of your credit score when applying for a mortgage When applying for a mortgage for your new home in South Carolina, your credit score will significantly impact the interest rate you are offered and your ability to qualify for a loan. Credit scores are important numbers that influence everything from the …
What is the difference between a HELOC and a second mortgage?
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 …
Continue Reading about What is the difference between a HELOC and a second mortgage?
Fannie Mae and Freddie Mac offer $2500 credit for South Carolina families
Fannie Mae and Freddie Mac offer $2500 credit for lower income families Fannie Mae and Freddie Mac have announced a $2,500 credit for low-income borrowers to make homeownership more accessible. Fannie Mae and Freddie Mac recognize that down payment and closing costs remain a significant barrier to homeownership for …
Continue Reading about Fannie Mae and Freddie Mac offer $2500 credit for South Carolina families
Say goodbye to debt with a cash-out refinance
What is a cash-out refinance? A cash-out refinance can provide a valuable solution if you're a South Carolina homeowner with sufficient equity and some debt to pay off. A cash-out refinance is a home loan that allows you to refinance your existing mortgage while taking out additional cash beyond your loan balance if …
Continue Reading about Say goodbye to debt with a cash-out refinance
Is a reverse mortgage right for you?
Reverse mortgages have become an increasingly popular option for older adults in South Carolina 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; however, if appropriately used, a reverse …
What is a USDA Loan?
Are you planning to buy a home in a rural area of South Carolina? If so, you may be eligible for a USDA loan. A USDA loan is a mortgage loan program backed by the United States Department of Agriculture (USDA) and offered through lenders like Mortgage Equity Partners to help individuals living in rural and some …
