Addison Baldwin Group

First United Mortgage Group

  • Home
  • Blog
  • Pre-Qualify Now
  • Rate Quote
  • Contact

3 Tips To Consider When Buying A Home With An FHA Mortgage

February 3, 2023 by Michael Addison

FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages. The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market. However, while getting through the loan process with an FHA mortgage loan is not necessarily more difficult than with a conventional or conforming loan, there are some issues that you will want to be aware of. Property Condition You can't buy just any property with a FHA loan, or any other loan for that matter. All lenders are concerned with the condition of a property, especially as it … [Read more...]

Filed Under: Mortgage Tagged With: FHA Loans, Mortgages

A Step-by-Step Guide to Refinancing a Traditional Mortgage to a FHA Mortgage

December 8, 2022 by Michael Addison

Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial goals and more. Those who are interested in refinancing in an FHA mortgage may consider these steps. Understand the Rules and Requirements There are specific rules in place regarding refinancing under the FHA program. For example, the loan amount may be up to 96.5 percent of the value of the home, but the homeowner cannot … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgage Refinancing, Mortgages

What is a Reverse Mortgage and How Does It Work?

September 23, 2022 by Michael Addison

If you've recently considered your options for taking some of the equity out of your home you may have heard about reverse mortgage loans. If you meet the requirements for a reverse mortgage it can be an excellent way to tap into the value of your home, freeing up that cash to be reinvested or used for other purposes. In today's blog post we'll explore reverse mortgage loans, explaining how they work and whether or not you're qualified to receive one. How Does a Reverse Mortgage Work? As the name implies, a reverse mortgage is the opposite of a traditional or "forward" mortgage in which you borrow a lump sum of money from a lender to buy a home, paying it back to them over time. With a … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgages, Reverse Mortgages

Understanding the Principal Limit on a Reverse Mortgage and What Happens if You Reach It

August 18, 2022 by Michael Addison

If you're considering applying for a reverse mortgage, you'll want to ensure you understand certain critical factors. One such factor is the principal limit. The principal limit will have a strong influence on your finances, which is why you'll need to ensure you know – before applying for your reverse mortgage – what your principal limit is. So how does a principal limit work, and how can you find out what yours is? Here's what you need to know. Principal Limit: The Maximum Amount You Can Borrow Simply put, the principal limit is the maximum amount of money that you can borrow using a reverse mortgage. This maximum amount does not change if you pay off your reverse mortgage and … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgages, Reverse Mortgages

  • 1
  • 2
  • 3
  • …
  • 50
  • Next Page »
headshot

Michael Addison & Jessica Baldwin

Loan Officer
NMLS 603214 | 857625
Call Us Today!
214-233-5123

PRE-QUALIFY NOW  

FREE RATE QUOTE   



Addison Baldwin

Connect with Us

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Browse Articles by Category

Recent Articles

  • 3 Tips To Consider When Buying A Home With An FHA Mortgage
  • S&P Case-Shiller Home Price Indices: Home Prices Fall In November
  • Is It Worth It to Put More Than 20 Percent Down?
  • What You Need To Know About A Closed-End Second Mortgage
Equal Housing Lender
NMLS Consumer Access
Member FDIC | Equal Housing Lender | NMLS# 400025

Looking for something?

Our Location


2805 N Dallas Pkwy, Ste 525
Plano, TX 75093

Copyright © 2023 · Powered by MySMARTblog