How big a mortgage can I have?

Answer You've found your dream house. The problem? It's expensive, maybe out of your budget. You're wondering just how large of a mortgage loan you can get. Mortgage lenders look at several factors when d... Read More »

Top Q&A For: How big a mortgage can I have

Does Saxon Mortgage have a grace period for mortgage payments?

According to Saxon's website, the mortgage lender does have a grace period for mortgage payments. If a borrower goes past his grace period, Saxon assesses a late fee. The company offers online paym... Read More »

Can you have a second mortgage included with a reverse mortgage?

A borrower who is 62 or older can purchase a reverse mortgage to pay off any and all debt on their primary residence, including a first and second mortgage debt.SignificanceA reverse mortgage pays ... Read More »

Can I refinance my first mortgage if I have a second mortgage?

If a homeowner has taken out a second mortgage, it is possible to refinance the first mortgage. The lender that holds the second mortgage must agree to subordinate that loan, which means that if th... Read More »

What does it mean when you have to have a mortgage loan underwritten?

Mortgage loans submitted to lenders require underwriter approval. The underwriter ensures the loan meets the lender's guidelines for the loan requested. This process is called underwriting. Underwr... Read More »