Is Rocket Mortgage the Same as Quicken? Yes. Rocket Mortgage used to be called Quicken Loans. However, the corporate name was changed in May 2021 so as to be consistent with the name of its parent company, Rocket Companies. The mortgage process can be a complex and confusing experience, leading to many potential homeowners asking … Read more
When you are in the market for a new home, there are a number of factors to consider such as budget, location, size, and much more. For those looking to purchase a home with a reverse mortgage, a key factor to consider is the down payment. It is important to understand the implications of a … Read more
“Churning” is a four-letter word in the mortgage business. The term refers to aggressive lending practices. The most common churning scenario: Soon after a buyer closes on a home, rival lenders offer to refinance the mortgage. Mortgage churning is a practice that has been around for some time and recently has been gaining more attention … Read more
Achieving a high credit score is essential if you are considering taking out a mortgage loan. Most lenders consider a credit score of 680 and above to be an excellent score and will typically offer the most favorable mortgage rates and terms for borrowers with such a score. So, if you are planning to purchase … Read more
Public Service Loan Forgiveness (PSLF) is an important program for those looking to reduce their student loan debt. By applying for and qualifying for PSLF, borrowers can have their remaining student loan balance forgiven after making 120 qualifying monthly payments. However, the process of applying for, qualifying for and tracking progress towards PSLF can be … Read more
Buying a house is a major financial milestone for many people. The cost of a home can vary greatly depending on the size, location, and condition of a property. A major factor influencing the price of a home is the amount of money borrowed to purchase the property, commonly known as a mortgage. For potential … Read more
When it comes to investing in a swimming pool, the last thing you want to do is take a financial gamble. But with so many financers and lenders out there, how do you know which one to choose? Finding the right loan can make all the difference in the swimming pool investment experience. That’s why … Read more
For standard employment income, the lender will generally review the previous two years W2’s and most recent 30 days of pay stubs to help guide in what income can be used for qualifying. When applying for a mortgage, it is important to understand how many pay stubs you will need to provide as part of … Read more
Having a balloon mortgage due and not being able to refinance can be a stressful situation for homeowners. On a balloon mortgage, a large principal payment is due at the end of the loan term, and if homeowners are unable to refinance, they may have difficulty meeting the payment. This can be a major source … Read more
Are you looking to take out an auto loan but are uncertain about what Capital One’s deferment policy looks like and what it means for you? Understanding the deferment policy of any loan provider is an important step in the loan process. Capital One offers customers the ability to defer their loan payment if they … Read more