Bock Mortgage Group - Michael Bock and Theresa NeSmith

Team Mortgage Mikes October 26, 2023 Leave a Comment

What Are The Pros And Cons Of ‘No-Deposit’ Mortgage Deals For First-Time Buyers?

“No-deposit” mortgage deals for first-time buyers refer to mortgage options that allow buyers to purchase a home without having to put down a deposit or a down payment. Here are the pros and cons of such deals: Pros: Lower upfront costs: The most significant advantage of a no-deposit mortgage is that it eliminates the need […]

Team Mortgage Mikes October 25, 2023 Leave a Comment

What is a Closed-End Second Mortgage?

A closed-end second mortgage is a type of loan that allows a borrower to obtain a lump sum of money using their home as collateral. It is considered a “second” mortgage because it is taken out in addition to the borrower’s primary mortgage. The term “closed-end” refers to the fact that the loan has a […]

Team Mortgage Mikes October 24, 2023 Leave a Comment

Reasons You Need an Insurance Binder and How to Get One

When a borrower applies for a mortgage loan, the lender typically requires proof of insurance coverage before they approve the loan. An insurance binder is a document issued by the insurance company that provides temporary proof of insurance coverage until the official insurance policy is issued. The insurance binder for mortgage loans will typically include […]

Team Mortgage Mikes October 23, 2023 Leave a Comment

What’s Ahead For Mortgage Rates This Week – October 23, 2023

This week featured the usual retail sales report which shows consumer demand and as well as an indicator of the velocity of money, not only for consumers but business to business as well. An increase would show an increase in national and local increase in economic activity, which is important as we move into Q4 […]

Team Mortgage Mikes October 20, 2023 Leave a Comment

Three Reasons Why You Might Consider a Reverse Mortgage When Nearing Retirement

It’s important to note that a reverse mortgage is not suitable for everyone, and there are eligibility requirements and responsibilities associated with it.

Team Mortgage Mikes October 19, 2023 Leave a Comment

Understanding Why You Don’t Need to Pay Off Your Mortgage Early

While the idea of being mortgage-free is undoubtedly appealing, there are compelling reasons why you might not need to rush to pay off your mortgage ahead of schedule.