Video Guide: Qualifying for a Reverse Mortgage If you’re considering a reverse mortgage to help fund your retirement, you may be wondering, “How do I qualify?” To be eligible for a typical reverse mortgage, you must be at least 62 years of age, but for a “Jumbo” reverse mortgage – typically used for high end, […]
How Are Reverse Mortgage Funds Used?
Video Tip: How Are Reverse Mortgage Funds Used? Senior homeowners are using the additional tax-free cash flow generated by a reverse mortgage in many creative ways to benefit themselves and their families. Homeowners are no longer required to make a principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding […]
Automated Underwriting
What Is Automated Underwriting? A Plain English Guide for NH Home Buyers When you apply for a mortgage, someone — or something — has to decide whether you qualify. That “something” is called an automated underwriting system, or AUS. Think of it like a very sophisticated calculator that looks at your credit, income, debts, and […]
What is a Reverse Mortgage? Video!
Video from YouTube: What is a Reverse Mortgage? A reverse mortgage is a unique way for seniors who are looking to generate additional cash flow – beyond their 401K and Social Security payments – to help fund their retirement. It helps relieve the anxiety that seniors may feel about outliving their money by allowing them […]
Video Tip: Understanding Your Credit Sc...
Video from YouTube: Understanding Your Credit Score A credit score is a 3-digit number based upon a number of factors from your financial activities. It is used to determine your creditworthiness for a mortgage, auto loan or credit card. A company called FICO creates what is called a FICO Score. It is based 35% on […]
About Renee Duval – Reverse Mortgages in
Meet Renee Duval of Bookend Lending LLC, your trusted reverse mortgage specialist with nearly four decades of experience here in New Hampshire. Renee assists REALTORS®, financial advisors, and senior homeowners in navigating reverse mortgages. A reverse mortgage allows homeowners aged 62 and older to use part of their home equityEquity is the portion of your […]
And What’s the Point?
Should I pay points to get a lower rate? Understanding Mortgage Points and Lender Pricing When shopping for a mortgage, terms like “point” and “points” might sound a bit confusing. Don’t worry — I’m here to break it all down and help you understand the mechanics of mortgage pricing, so you can make informed decisions […]
Why Buyers Need a REALTOR…
Why do buyers need a REALTOR? REALTORs are professional real estate agents who adhere to the highest level of conduct and ethics. Many have years of experience, teams to support you and a deep understanding of every facet of the homebuying process. Hiring the right REALTOR makes all the difference! 1.REALTORs know the city and everything […]
TRID? TILA? RESPA? What are these acr...
We’re ALL (Amazing Loan Ladies) about simplifying the complicated and taking care of the details! TRID stands for TILA/RESPA Integrated Disclosure Rule TILA = Truth in Lending Act RESPA = Real Estate Settlement Procedure Act TRID is CFPB’s requirement to simplify all of this. CFPB = the Consumer Finance Protection Bureau, the new agency overseeing […]