Buying

Decision Making Resource Center

Welcome to the Mortgage Daily Resource Center! Here, you’ll find everything you need to know about the mortgage industry, all in one convenient location.

Closing the Deal: Finalizing the Sale with a Purchase Agreement or Sales Contract

Selling

One of the most important steps in selling a house is the execution of a purchase agreement or sales contract. This contractual contract spells forth the conditions of the transaction and the obligations of both the buyer and the seller. The...

Turning Home Equity into Retirement Income: An Overview of Reverse Mortgages

Types

Reverse mortgages are loans that let homeowners who are 62 years of age or older turn their home equity into cash. Homeowners can get a lump amount, a line of credit, or monthly payments through a reverse mortgage to augment their retirement...

Closing the Deal: Finalizing the Sale with a Purchase Agreement or Sales Contract

Rural Homeownership Made Easy: The Benefits and Process of Getting a USDA Loan

Types

A USDA loan is one that the U.S. Department of Agriculture (USDA) makes available to borrowers in rural areas that have low to moderate incomes. A USDA loan is a mortgage loan provided by the U.S. Department of Agriculture (USDA) to borrowers in...

The Ultimate Guide to Jumbo Loans: Understanding the Benefits, Eligibility Requirements, and Loan Process

Types

Mortgage loans classified as jumbo loans are larger than the maximum conforming loan limit established by GSEs like Fannie Mae and Freddie Mac. People that wish to buy expensive properties and require a loan amount more than the conforming loan...

Conventional Mortgages: A Guide to Understanding the Benefits and Eligibility Requirements

Types

A conventional mortgage is a loan the government does not insure or guarantee. People who wish to buy a home with a greater down payment and a higher credit score are more likely to use this sort of loan. The fundamentals of conventional mortgages,...

VA Loan: A Loan Guaranteed by the Department of Veterans Affairs

Types

The VA Financing is an innovative loan program created especially to assist veterans and their families purchase a house. The Department of Veterans Affairs (VA) is backing the loan, which means that the VA will guarantee a portion of it, making it...

FHA Loan: An Overview

Types

A government organization called the Federal Housing Administration (FHA) gives mortgage insurance to lenders, enabling them to grant loans to borrowers with less-than-perfect credit and low-to-moderate income. These borrowers are intended for FHA...