Administered by the Department of Veteran’s Affairs, VA Loans are a home mortgage program with a lot of perks. If you qualify, then your dream of homeownership may be closer than you think. Before you can obtain a VA Loan, you must go through several steps to ensure that both you and the home you… [Read More]

Are you in need of home repairs and looking for a source of financing? There’s an array of ways to pay for your needs: lines of credit, in-store financing, or home equity loans are some examples. Today we are here to tell you about another type of financing called a Homestyle Renovation Loan. This loan… [Read More]

The course of securing a home loan can be very tedious. One must know how to negotiate and navigate the various policies and programs available. During this process, you can choose to work with a lender directly. You can also choose to work with a broker who acts as an intermediary between you the banks…. [Read More]

It can be tough to decide whether to buy a home or rent a home. Purchasing a home is a huge and long-term financial commitment, but it helps you grow your assets and can sometimes be more affordable than renting. You also responsible to make repairs on the home you own. How will you plan… [Read More]

Do you seek to understand the mortgage approval process? Are you a new homebuyer? Professional Mortgage Solutions in Rego Park, NY is here to walk you through the various steps of the mortgage closing process. While your experience may not mirror the steps below, we hope you find this guide helpful. You are always welcome… [Read More]

Many private lenders require proof that their investment will be protected if the borrower defaults. This is largely accomplished through private mortgage insurance (PMI). PMI may need to be factored in to your ultimate costs if you finance a home. It is not the same thing as homeowners insurance and it protects the lender’s funds… [Read More]

Understanding Debt-to-Income Ratios Your debt-to-income (DTI) ratio is your total debt owed compared to your income. When you go to apply for a home mortgage, your DTI will be one of the primary factors reviewed. This is why Professional Mortgage Solutions in Rego Park, NY has put together this week’s blog. If you are looking… [Read More]

Are you looking to buy a home in Rego Park, NY? Are you feeling overwhelmed by the move and in needs of tips and a short relocation checklist? The process can seem daunting; luckily, there are local specialists to help you with your needs. Professional Mortgage Solutions is here to support people looking to relocate… [Read More]

A portfolio loan is a type of loan that a lender will keep in their portfolio instead of selling on the market. This way, the company benefits from all the interest payments made as the loan is repaid. Lenders making a portfolio loan can sometimes also create their own loan programs and terms. For this… [Read More]

When you are going to buy a home and seek a mortgage, you will have many options and ways to finance the home. You must think carefully and look at various terms, percentages, and payment plans. You can also choose between a fixed-rate mortgage (FRM) or an adjustable-rate mortgage (ARM). Each type of loan comes… [Read More]