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VA vs FHA vs USDA What’s the Difference?

September 27, 2024 by Robby Oakes

You may have more options than you think when it comes to securing a mortgage for your new home. While many buyers opt for conventional financing, another option or program might be a better choice for you, depending on your personal and financial situation. Learning more about FHA, USDA, and VA loans ensures you get the best possible deal for your mortgage and that you secure the loan that you need for your new home. Here’s what you need to know about these useful mortgage options.

Filed Under: Mortgage Tagged With: Loan Options, Mortgage, VA Loans

An Overview Of Umbrella Insurance: How It Works

September 26, 2024 by Robby Oakes

Accidents can happen from time to time, which is why it is important for people to have insurance. While you might be able to fix some accidents on your own, others can lead to a significant amount of financial stress.

Filed Under: Mortgage Tagged With: Mortgage, Protecting Your Assets, Umbrella Insurance

The Impact of Interest Rate Changes on Your Mortgage Payment Over Time

September 19, 2024 by Robby Oakes

When it comes to mortgages, interest rates play a crucial role in determining your monthly payments and the total cost of your loan. While fixed-rate mortgages offer stable payments, adjustable-rate mortgages (ARMs) can fluctuate with market conditions, leading to significant variations in your financial obligations over time.

Filed Under: Mortgage Tagged With: Adjustable Rate Mortgage, Interest Rates, Mortgage Rates

Understanding Cross-Collateralization in Mortgage Lending

September 13, 2024 by Robby Oakes

In the world of mortgage lending, borrowers may come across a variety of terms and concepts that can be confusing. One such concept is cross-collateralization. While not as common as traditional single-property mortgages, cross-collateralization can be a powerful financial tool in certain situations. However, it also comes with unique risks that borrowers should understand. This article will explain what cross-collateralization is, how it works, and when it might be used in mortgage lending.

Filed Under: Mortgage Tagged With: Cross Collateralization , Mortgage Lending, Real Estate Investing

The Difference Between Mortgage Prepayment and Payoff

September 10, 2024 by Robby Oakes

As a homeowner or prospective buyer, understanding the intricacies of mortgage management can save you time, stress, and potentially thousands of dollars. Two key concepts that often confuse borrowers are mortgage prepayment and mortgage payoff. While both strategies can reduce the overall interest paid and shorten the loan term, they function differently. Let’s break down what each term means and how they can affect your mortgage journey.

Filed Under: Mortgage Tagged With: Financial Planning, Home Ownership, Mortgage Tips

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Robby Oakes


Robby Oakes

CIMG Managing  Director
NMLS# 91606

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