Gifts in the home buying process This Christmas season, you may have plans to help your children buy a home in the coming year by giving them some assistance with their down payment. Mark Wells of Preferred Financial Services discusses the various rules involving gifts, and answers questions about how this can be done to […]
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Cash-out mortgage financing Borrowers often want to cash out equity from their homes to pay for home improvements, consolidate a home equity line into a single mortgage, consolidate debt, or pay for other expenses. Guidelines for cash-out loans vary from program to program. Mark Wells of Preferred Financial Services addresses questions regarding this type of […]
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Mortgage lending and property types Day in and day out, Mark Wells at Preferred Financial Services talks to homebuyers planning to purchase a new residence. Questions often arise about whether a particular type of property can be purchased using standard mortgage financing programs. Here, he answers questions about how lenders view various property types in […]
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