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Blog Image: What You Need to Know About Mortgage Forbearance

What You Need to Know About Mortgage Forbearance

If you are one of the 22 million Americans who have filed for coronavirus-related unemployment in the past few weeks, you may also be wondering if you are going to be able to make your mortgage payments. If your income has vanished or been reduced due to COVID-19 shutdowns, you can appeal to your mortgage lender for payment forbearance. Before you do, there are several questions you need to ask to understand how it will affect your situation. Is My Loan Covered by the CARES Act? In the wake of the COVID-19 economic fallout, the U.S. government recently passed the CARES Act to provide mor...

April 22nd, 2020 | Mortgage Advice, Credit, What You Need to Know About Mortgage Forbearance

Blog Image: How To Get Help If You Can’t Pay Your Mortgage

How To Get Help If You Can’t Pay Your Mortgage

With the coronavirus spreading across the nation, many people have lost income as companies have temporarily closed their doors to stop the contagion. If your income has been disrupted and you do not think you’ll be able to make your mortgage payments, there are several steps you can take to avoid default and foreclosure. Fannie Mae or Freddie Mac Loan Help If your loan is backed by either Fannie Mae or Freddie Mac, you can contact your lender to have your payments lowered or suspended for up to 12 months, according to new federal government directives. Additionally, you will not b...

April 15th, 2020 | Mortgage Advice, How To Get Help If You Can’t Pay Your Mortgage

Blog Image: How to Buy a Home During COVID-19

How to Buy a Home During COVID-19

With most of the country on shelter-in-place orders due to the outbreak of the COVID-19 virus, the homebuying process has undergone plenty of changes for those still looking to get into a home of their own. Buyers, sellers and real estate agents have had to make adjustments for the safety of all. If you are in the midst of your home search or ready to start, here’s what you need to know about buying a home during this challenging coronavirus environment. Virtual Shopping & Viewing Agents and sellers have had to get creative during this time of social distancing. Buyers have had...

April 8th, 2020 | Purchasing a Home, How to Buy a Home During COVID-19

Blog Image: The Best Home Loans for Buying a Fixer-Upper

The Best Home Loans for Buying a Fixer-Upper

You’ve found the perfect property – or at least what could be the perfect property after a few improvements. Upfront repairs and renovations can take a toll on your budget though. Fortunately, there are several mortgage options that will allow you to buy the house and borrow money for improvements all at once. All of these home loans are made by traditional lenders and guaranteed by government agencies or groups. Fannie Mae HomeStyle Renovation Mortgage Government-sponsored entity Fannie Mae backs a mortgage product that is both a traditional mortgage and home improvement loa...

April 1st, 2020 | FHA Loans, VA Loans, The Best Home Loans for Buying a Fixer-Upper

Blog Image: Can a Higher Interest Rate Actually be a Better Choice?

Can a Higher Interest Rate Actually be a Better Choice?

Mortgage interest rates are near record lows again. This can mean great deals for homebuyers and great savings for homebuyers. Some lenders will even start advertising rates that are at least a half point lower than the average national rate. Buyers and refinancers should be aware that these ultra-low rate deals come with strings attached. In some cases, it may actually be better to choose a higher rate option. Here’s what you need to know: Points In order to get some of these rock-bottom rate deals, borrowers are often required to pay discount points to the lender. One point is eq...

March 27th, 2020 | Interest Rates, Can a Higher Interest Rate Actually be a Better Choice?

Blog Image: How Can I Qualify for a Home Equity Loan?

How Can I Qualify for a Home Equity Loan?

Whether you are remodeling your kitchen, consolidating several big debts, or paying for your child’s college tuition, a home equity loan can be one of the most cost-effective ways to borrow money. Interest rates are lower on mortgages than on almost any other type of loan. But how do you know if you can qualify for a home equity loan? Here’s what you need to know to be approved for one of these popular loans: How a Home Equity Loan Works A home equity loan is a second mortgage. It uses your home as collateral and allows you to borrow against your existing equity. Your equity ...

March 18th, 2020 | Home Equity, How Can I Qualify for a Home Equity Loan?

ZFG Mortgage

6670 S. Lewis Ave # 200
Tulsa, Oklahoma 74136

Phone: 918-459-6530

Fax: 918-459-6535

NMLS: 193207