Blog
27,
2017
When you’re self employed, it’s still very possible to get a mortgage, though it can be more challenging. This video details how you can get a mortgage if you’re part of the fastest growing segment of America’s workforce (freelancers and the self-employed).
26,
2017
On June 8, the 30-year fixed mortgage rate dropped to a seven month low, and averaged 3.89% for the week. This compares to a March 2017 mortgage rate of 4.3%, and counters early year predictions of rising mortgage rates throughout 2017. Since the 2008 recession, mortgage rates have trended lower As you can see from […]
22,
2017
Having a good credit score is an important part of the mortgage process, and it can save you you thousands of dollars over the life of your loan. While you can build a good credit score with a range of strategies, including paying your bills on time and using a secured credit card, all Americans […]
20,
2017
For homebuyers, your mortgage payment is one of several monthly costs you’ll have to pay. Other monthly costs include your property taxes, homeowners insurance, and homeowners association (HOA) fees. On top of these, homeowners can expect a substantial monthly power power bill. In the summer of 2017 alone, the average American household faces a $410 […]
19,
2017
Reverse mortgages continue to receive positive publicity in the news media, this time from USA Today. In a recent article, titled “Want financial security? Home equity and retirement accounts are key,” reverse mortgages are described as being a critical part of retirement planning. Wade Pfau, professor of retirement income at The American College of Financial […]
16,
2017
June 15th, 2017 | by Alex Spanko | HECM, News, Open Mortgage, Reverse Mortgage Back in 2015, when Open Mortgage first entered the wholesale reverse-mortgage marketplace, the Austin, Texas-based firm was mostly just doing a favor for one of its former employees. It all started when an employee-turned-broker provided a lead on an interested borrower, […]
15,
2017
May was another busy month for the mortgage industry. Here are some recent articles, highlights, and homeowner tips: U.S. pending home sales fall; housing market recovery intact Contracts to buy previously owned U.S. homes fell for a second straight month in April amid a supply squeeze. However, the housing market recovery remains supported by a […]
14,
2017
AUSTIN, Texas, June 14, 2017 /PRNewswire/ — Open Mortgage LLC, a leading provider of traditional and reverse mortgages throughout the United States, announced their expanded Wholesale Program for Traditional and Reverse (HECM) Channels. “By joining the Open Mortgage Wholesale Program, partners have access to an extensive network of loan programs, training, marketing, and loan tools. These […]
13,
2017
One of the biggest advantages of owning a home is building home equity. Home equity is the current market value of a home minus its outstanding mortgage balance. In simple terms, it’s home ownership that you build by making monthly mortgage payments. Depending on the terms of your mortgage, you’ll usually pay it off in […]
12,
2017
Jake Droge, a reverse mortgage loan originator with Open Mortgage, has been designated a Certified Reverse Mortgage Professional (CRMP) by the National Reverse Mortgage Lenders Association. Jake joins Open Mortgage loan originators Carlos Camargo, Melinda Hipp, Rick Sweeney, Patty Wills, and 149 individuals nationwide with the prestigious CRMP designation. CRMP is awarded following passing a […]
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