Organize Your Priorities From fixer-uppers to new construction, it’s time to see what the market has to offer Check Out Homes in Person Once you have a checklist of everything you want in a home, it’s time to start touring properties

You are required to have enough insurance to cover the lower of either the replacement cost of the home or the remaining principal balance on your loan. Example: If your unpaid principal balance (UPB) is $80,000 but the replacement cost is $120,000, you need to carry a minimum insu...

Mortgage assistance is a general term that covers a variety of programs and solutions intended to help homeowners who are experiencing financial difficulty and having trouble making their mortgage payment.

Payoffs must be made via certified funds—wire transfer, money order, or cashier’s check. Please do not send personal checks, certified personal checks, or cash. Your payoff quote statement will include all of the information you need about our receiving bank for wires. Note: We sugge...

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Real estate agents act as your personal representative, helping look out for your best interests, finding homes that meet your criteria, helping you make and evaluate offers, and even negotiating on your behalf. We recommend spending time to make sure you find the right one. Here are...

Each loan option is made up of 3 elements: 1. Loan Term. This represents how long you have to repay your loan. The most common loan terms are 30 years and 15 years, but there may be other durations depending on your loan type and other factors.

Check Out Homes in Person When viewing a home, be thorough. Test AC & Heating systems, outlets, showers & toilets, and all appliances. Don’t forget to check on warranties. Take notes of repairs or upgrades you’ll have to consider if you decide to buy the home. Here are 6 common h.....

What Is a Pre-Approval? It’s a letter from a lender that indicates the type and amount of loan you may qualify for. It gives you a solid idea of how much you qualify for to help you target a specific price range when home shopping. Mr. Cooper offers a simple, fast, and free Pre-A...

When a disaster strikes your home, your insurance company may issue an insurance claim check, which can also be called loss draft funds. A claim check is meant to cover various costs, including repairs.