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HECM Loan vs. Reverse Mortgage: What's the Difference?

For decades, reverse mortgages have served as a valuable tool for seniors as they transition out of the workforce. Reverse mortgages and HECM mortgages are typically used interchangeably, but are not the same. If you're considering taking out a reverse mortgage loan, it is vital that you know the distinction between these loan products.

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What Are Closing Costs?

What are closing costs? Here we break down the various fees that are included in closing costs and discuss how you may be able to reduce your out-of-pocket obligations. 

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What is a Loan Contingency?

A loan contingency can help buyers protect their earnest money offered and keep their options open until the financing is complete. Here is everything you need to know about a loan contingency and why it may be a good idea to include them in a home purchase agreement.  

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What is an Assumable Mortgage Loan?

An assumable mortgage loan is when a homebuyer assumes the seller’s existing mortgage obligations, which could be a lower interest rate and better loan terms.

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What are the Benefits of a VA Loan?

If you’re a current or former member of the U.S. Military, you may qualify for a VA loan, which allows you to purchase a home without a down payment. That’s just one of the advantages you receive from a VA loan. Keep reading to explore the additional home loan benefits of VA loans.

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