Entries Categorized as 'Mortgage Loans'

What is a Home Equity Line of Credit and Is It for Me?

Date February 3, 2014

Slowly, quietly — perhaps without you even realizing it – something exceptional has been happening all around you. Your home has likely gained a good deal in value. The S&P/Case-Shiller Home Price Index, a leading measure of U.S. home prices, just reported selected city composite gains of nearly 14% year-over-year, based on data through November 2013. […]

Which Type of Mortgage Loan is Right for You?

Date November 20, 2013

When it comes time to buy your first home, understanding you options can be daunting. With so many different types of loans and mortgages available to you, it may not be immediately clear which is the right choice for your family. A basic understanding of the different types of mortgages can transform you into a […]

Getting a new Mortgage Loan? Pre-Qualification vs Pre-Approval: What’s The Difference?

Date November 5, 2013

Buyers are out in full force, which indicates it is going to be competitive for homebuyers.  Since many homes are receiving multiple offers from prospective buyers, when you are ready to buy a home, you will need to be prepared to act quickly.  To that end, it is imperative that you have your mortgage financing […]

Buying a Home: Focus on Finding a Great Home, Rather Than the Perfect Deal

Date October 15, 2013

When you decide that you are ready to buy a new home, it is only natural to hope that you will find not only a suitable home for you and your family but that it will also be a perfect deal.  However, too often homeowners focus on finding the “perfect deal” and wind up missing […]

Understanding Reverse Mortgages

Date July 26, 2013

What Is a Reverse Mortgage? A reverse mortgage allows you to borrow against the equity you’ve established in your home. To be eligible, you must be age 62 or older and own your home free and clear, or have a remaining mortgage balance that can be paid off by the reverse mortgage. You’ll want to […]

Credit Report Tips

Date January 9, 2013

Have you ever reviewed – in granular detail – your credit report? Here are a few tips that can help make sure you’re in prime position for mortgage approval – and receive the best terms and conditions possible: Avoid The “Free Credit Score” Traps: Even though you likely see a myriad of advertisements for “Free […]

Top Ten Signs of Mortgage Scams

Date October 9, 2012

Mortgage rates are at their lowest. This means there are more mortgage companies, or individuals, who are preying on unsuspecting borrowers. Before you sign on the dotted line, make sure you know who you are doing business with, and be sure to work with an experienced mortgage professional. Mortgage fraud is on the rise. Be […]

Mortgage Mayhem: From Chaos, Emerges Order

Date October 5, 2012

The word “mayhem” has several synonyms including “chaos” and “confusion. I could not think of a better topic to begin with than addressing the mayhem that seems to exist about all things mortgage related.  Mortgage loans have always been a bit confusing, but as we are all aware by now, the entire mortgage industry has […]

MCCU Voted Best Credit Union – Daily News Reader’s Choice Awards!

Date August 31, 2012

Thanks to our loyal members, and members of our community, we have been voted Best Credit Union in Los Angeles in the Daily News Reader’s Choice Awards! This is the fourth time we’ve won this prestigious award, and we are so proud. MCCU continues to be a safe and sound place to bank. We have […]

The Many Faces Of Government Sponsored Loans

Date June 12, 2012

For many borrowers, securing a government sponsored loan for the purchase or refinance of a residence is reassuring, and makes a great deal of sense. Unfortunately many people aren’t aware of the many different types of government backed mortgage loans that are available. To that end, let’s take a look at some of the benefits […]