Mortgage Lender Types in Bowie and Silver Spring: A DMV Homebuyer’s Guide

Mortgage Lender Types in Bowie and Silver Spring I'm going to spend most of this article explaining the difference between a mortgage banker, a direct lender, a portfolio lender, a correspondent lender and a broker. First I want to tell you that for most buyers, it doesn't matter. The label on the c

Where Does the Money Come From for Mortgage Loans?

Who Actually Owns Your Mortgage in Prince George's, Montgomery County, DC and Northern Virginia? It Isn't Your Bank Opinion My grandmother's generation got a mortgage by putting on good clothes and walking into a bank on Main Street. If the bank had money on deposit and liked the look of you, it len

The Biweekly Mortgage - Who Needs It?

Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your payments? With email spam becoming more pervasive as everyone tries to get rich quick on the Internet, these ads are popping up with troublesome regularity. The ads promot

Land Contract

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on