Drew Mortgage Associates - A Mortgage Company in Boston, MA

A 15-year mortgage loan is much better than a 30-year loan. If you want to save some money, then choosing a 15-year mortgage loan will be helpful for you because you don’t have to pay extra money as an interest for the loan amount. This type of loan will help you complete your home loan much faster. However, the monthly payment for this kind of loan will be slightly higher than a 30-year loan because you’ll be completing your loan in half of the term than a 30-year loan. Having a 15-year mortgage loan as a fixed-rate will help you to clear the loan in 15 years. However, if your income is not consistent, then avoid this type of mortgage. This blog provides valuable information about the pros and cons of a 15-year mortgage. To learn more, please visit: https://www.drewmortgage.com/15-years-mortgage-pros-and-cons/

There are many reasons that homeowners might not be able to pay their mortgage. It could be a change of finances, a loss of a job, a relocation or a drop in their home’s value. It’s difficult when a homeowner owes more money than their property is actually worth. Foreclosures can also wreak havoc on your credit and prevent you from qualifying for a new loan. Skipping a mortgage payment isn’t always advisable either- it’s certain to have a negative effect on your credit and finances. This blog provides valuable information on why it’s a bad idea to skip your mortgage payments .

Everybody wants to be debt-free. Debt causes stress, anxiety, and can take away your peace of mind. Buying a home requires a large sum of money. Paying for your home in cash these days is next to impossible. Paying off your mortgage as early as possible can relieve you of your stress and can give you peace of mind. A mortgage loan should be taken seriously and paid on time. Failing to pay your mortgage can result in foreclosure. It can negatively impact you and your family. You need to know what you should be doing to pay off your mortgage early. Paying off your mortgage early can help you save on the interest. This blog provides valuable information on how to pay off your mortgage early. Read more at: https://www.drewmortgage.com/tips-to-pay-off-mortgage-early/

Fannie Mae has a mortgage loan program called Fannie Mae HomePath Mortgage Loan for people who are interested in buying a home that is currently owned by Fannie Mae. HomePath Mortgage Loan provides benefits such as a low down payment, no mortgage insurance, flexible mortgage terms and more. This loan is available for both owner occupants and investors. As houses owned by Fannie Mae are move-in ready homes, which are competitively priced, they often attract first time home buyers , homeowners who want a bigger home, or retirees looking to consolidate. Fannie Mae also includes HomePath Renovation Mortgage for homes requiring moderate renovations. This blog provides valuable information with all you need to know about HomePath Mortgage Loans.  Read more information at - https://www.drewmortgage.com/everything-you-need-to-know-about-homepath-mortgage-loans/

Do you want to refinance? Refinancing your existing home loan can be the right financial decision. You'll require professional help when it comes to refinancing your mortgage. In order to get all the benefits of refinancing , homeowners need to do some research. They need to find out the current refinance rates and industry trends. You may not be able to know everything about refinancing, this is where home loan officers come into the picture. Deciding on your own regarding refinance loans can be challenging. Using a checklist will help you decide whether it's a right time to refinance or not. This blog provides valuable mortgage refinance checklist that'll help you identify whether refinancing is right for you or not. Read about - Mortgage Loan Refinancing Checklist

Loan rejection often exasperates home owners. There are a number of factors that lead to online mortgage loan application rejection. It's quite common among borrowers who apply for a mortgage loan. However, what you need to remember is that rejection is not the end of your dreams. You should always re-attempt the process when you're ready. However, before re-applying, you should learn what went wrong. Identify the errors in detail and make the necessary changes. Here are 6 steps you should take after your online mortgage application gets rejected: 1. Review Your Refusal Letter There are a number of factors that can lead to rejection of your loan application. Contemplate what went wrong from your end. This step will help you in making the right decisions, without repeating the same mistakes, so that your loan application may get accepted in the future. 2. Ask Where You Failed The most frequent reason for mortgage loan application rejection is either insuffi...