Co-Signers, co-borrowers, and the mortgage process Mark Wells of Preferred Financial discusses which loan programs do and do not allow for co-signers, and when a co-signer can make a difference in getting loan approval. What is the difference between a co-signer and a co-borrower? A co-signer is someone who signs onto a mortgage loan […]
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Financing options for second homes and vacation homes Second home (vacation home) financing has its own special underwriting guidelines and product offerings. Here, Mark Wells at Preferred Financial Services answers common questions he receives from customers looking to buy or refinance a second home. How do lenders define a second home? Very specifically—a second home […]
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Adjustable rate mortgages (ARMs) Adjustable Rate mortgages have been around for more than 30 years in various forms, and are still among the choices offered to consumers. Mark Wells at Preferred Financial Services discusses the pros and cons of ARMs. What are the advantages of an ARM compared to a fixed rate? The single advantage […]
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