Browsing: Hard Money Loans

Key takeaways The draw period is the initial phase of a home equity line of credit (HELOC), during which you…

SDI Productions/Getty Images Key takeaways A proof of funds letter, or POF letter, proves you have the funds to buy…

Key takeaways A first-time homebuyer is someone who has either never owned a home or who has not owned a…

Image by GettyImages; Illustration by Jessa Lyn Lizama/Bankrate Key takeaways Mortgage reserves are cash or other easily accessible assets you…

Key takeaways When you owe more on your mortgage than your house is worth, your mortgage is “underwater,” or in…

Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments.…

rSnapshotPhotos/Shutterstock Key takeaways If you got your FHA loan after the year 2000, you may be able to cancel your…

Key takeaways FHA loans and conventional loans are both issued by private lenders, but FHA loans are insured by the…

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades.…

irina88w/GettyImages; Illustration by Hunter Newton/Bankrate Inflation keeps hanging around, and the Federal Reserve has yet to lower its benchmark rate…