5 Alternatives To A Reverse Mortgage

Mortgage Basics - 8-minute read

Lauren Nowacki - November 29, 2022

Before taking out a reverse mortgage, consider the other options available for senior homeowners. Check out our guide to alternatives to a reverse mortgage.

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A Guide To Gifts Of Equity: What Taxes To Expect, How To Write A Gift Letter And More

Mortgage Basics - 8-Minute Read

Miranda Crace - November 29, 2022

Curious about the gift of equity or already considering giving one? Read on to learn about the process plus the pros and cons of giving the gift of home equity.

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Understanding Tri-Mortgage Credit Reports: Here’s What You Should Know

Mortgage Basics - 5-minute read

Dan Rafter - November 28, 2022

Tri-merge credit reports help mortgage lenders determine the size and type of your loan. Learn more about the role this report plays in your application.

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What Is Condemnation In Real Estate And What Do Homeowners Need To Know?

Mortgage Basics - 4-minute read

Sarah Sharkey - November 28, 2022

Condemnation in real estate occurs when the government uses its eminent domain authority to take property. Learn what condemnation can mean for homeowners.

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Grantor Vs. Grantee: What’s The Difference?

Mortgage Basics - 4-minute read

Ashley Kilroy - November 28, 2022

The transfer of ownership from a grantor to a grantee is an important part of many real estate transactions. Learn more in this guide to grantors vs. grantees.

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A Complete Guide To Par Rates

Mortgage Basics - 4-minute read

Scott Steinberg - November 28, 2022

With regard to mortgage lending, the par rate is the borrower’s standard interest rate as calculated by the underwriter. Read on to learn how par rates are set.

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What Is An eMortgage?

Mortgage Basics - 4-minute read

Erin Gobler - November 28, 2022

Considering an eMortgage for your home purchase? Learn more about electronic mortgages, how they work and what benefits eMortgages can offer borrowers like you.

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What Should You Do If The Home Appraisal Value Is Lower Than The Offer Price?

Mortgage Basics - 7-minute read

Andrew Dehan - November 28, 2022

What happens if your home appraisal came in lower than your offer? Learn what your options are if your home appraisal value is less than the purchase price.

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APR Vs. APY: What’s The Difference And How Do They Affect Your Mortgage?

Mortgage Basics - 5-minute read

Victoria Araj - November 28, 2022

Annual percentage rate and annual percentage yield are both important interest measures, but how do they differ? Here's how APR and APY affect your mortgage.

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Promissory Notes, Defined And Explained

Mortgage Basics - 5-minute read

Scott Steinberg - November 28, 2022

A promissory note is a repayment agreement between a borrower and lender, but how does it differ from a loan? Read on to see how promissory notes work.

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What Is The Real Estate Gift Tax And How Can I Avoid It?

Mortgage Basics - 5-minute read

Jamie Johnson - November 28, 2022

Real estate gift tax applies any time an individual transfers property to someone without receiving full market value in return. Learn how you can avoid it.

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What Are The 3 Types Of Reverse Mortgages?

Mortgage Basics - 7-minute read

Ashley Kilroy - November 28, 2022

What are the three types of reverse mortgages? Learn everything you need to know about reverse mortgage options and when one might make sense for you.

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A Guide To Conditional Approvals For Home Buyers

Mortgage Basics - 4-minute read

Hanna Kielar - November 28, 2022

A conditional approval means your lender will approve your mortgage, so long as you meet certain terms. Read our advice to best prepare your loan application.

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Types Of eClosing And How They Work

Mortgage Basics - 3-minute read

Kevin Graham - November 28, 2022

Everything’s going digital, and mortgages are no exception. Learn about the different types of eClosing available to Rocket Mortgage^® clients.

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What Is The Federal Funds Rate And How Does It Affect Mortgage Rates?

Mortgage Basics - 6-minute read

Scott Steinberg - November 28, 2022

The federal funds rate is an important metric to know in the financial world. Learn more about how it’s determined and how it can affect mortgage rates here.

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What Is Mortgage Delinquency?

Mortgage Basics - 4-minute read

Scott Steinberg - November 28, 2022

Concerned that you’re falling behind on your mortgage payments? Learn how to avoid mortgage delinquency, plus how to get out of it with help from your lender.

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SOFR: What Is It And How Can It Affect Your Mortgage?

Mortgage Basics - 7-minute read

Kevin Graham - November 28, 2022

Lenders decide how much to charge borrowers by consulting SOFR. Learn more about what this means for mortgages when the US Treasury replaced LIBOR with SOFR.

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What Are Mortgage Bonds And How Do They Work?

Mortgage Basics - 5-minute read

Jamie Johnson - November 27, 2022

Mortgage bonds protect lenders and allow you to invest in affordable real estate. Learn more about how they work and how they affect the real estate market.

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