15-year vs. 30-year mortgage — which is better?

With interest rates again touching on 70+year lows, many homeowners are considering refinancing. Mark Wells at Preferred Financial addresses the often-asked question of whether a 15-year mortgage is better than a 30-year mortgage. I know that I will be paying more interest with the 30-year mortgage. How much more?  That will differ according to your loan size, but for a...

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Co-Signing a mortgage loan

Each week Mark Wells at Preferred Financial receives calls from parents wanting to help a child, or another family member buy a house.  Inevitably, the question of co-signing comes up.  Here are the most asked questions he receives in regard to that issue. My child has bad credit.  Can I co-sign with him so he can qualify?  The answer to this most asked question is...

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Will I Qualify For a Mortgage?

On the minds of all homebuyers is the dreaded question:  Will I qualify for a mortgage? In the 20 years he has been providing mortgages for homebuyers, Mark Wells has found that often times the person most worried about this is actually the person most likely to qualify.  “People who are worried about their credit are usually those who feel a high degree of ...

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