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Loan amount. This is the amount you borrowed from the bank or lender, which is essentially the purchase price minus the down payment. Usually, the largest loan you can borrow will correlate with your affordability, i.e., household income.…
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These costs are essentially fees that mortgage professionals, such as lenders and real estate attorneys (among others), charge to finalize your home loan and the real estate transaction. Typically, closing costs range from 3% to 6% of your…
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Celink has taken over as the subservicer for HECM mortgages assigned to the Department of Housing and Urban Development after winning the contract earlier this spring. HUD notified the National Reverse Mortgage Lenders Association on Monday…
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