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What Disqualifies You From Getting a Reverse Mortgage?
Reverse mortgages may be a viable option for elderly homeowners who wish to access the equity in their residence. However, not all individuals are eligible for this form of loan. Numerous criteria determine eligibility, and failure to satisfy even one of them could result in your inability to obtain a reverse mortgage. In order to […]
What is Escrow on a Mortgage?
Escrow is an essential part of the mortgage process that helps homeowners and lenders ensure that important expenses, like property taxes and insurance, are paid on time. Through an escrow account, these costs are managed and paid automatically, easing the homeowner’s burden. At Sire Finance, we explain escrow’s role in mortgages so you can make […]
What Percentage of Income Should Go to Mortgage?
Determining the right percentage of your income to allocate toward your mortgage is a crucial step in ensuring financial stability. It’s vital to balance your housing costs with other financial obligations and goals. In this article, we’ll explore common mortgage payment rules, how lenders assess affordability, and tips on lowering your mortgage payments. At Sire […]
