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February 20, 2024
How a reverse mortgage helped a senior homeowner improve her monthly cashflow, eliminate debt, and establish a line of credit
As the Reverse Mortgage Department Manager, Joe leads our team of Reverse Mortgage Specialists. Joe's goal is to help senior citizens create a more financially stable and secure retirement through reverse mortgage options.
Joe has been married to his
October 27, 2022
Download our free loan document checklist to keep track of the files you’ll need when applying for a home loan.
July 23, 2023
A Platinum Credit Approval allows you to present the next best thing to a cash offer.
March 26, 2024
Waterstone Mortgage’s Lock & Shop option allows homebuyers to lock in their interest rate for 60-90 days while shopping for a home.
March 28, 2024
If you’re planning to buy a home, it’s helpful to understand the distinctions between a mortgage banker and a mortgage broker, so you can make the best decision for your home financing needs.
February 02, 2024
Waterstone Mortgage offers a variety of loan options for those with no credit history.
achieving your dream of homeownership is possible
The Home Possible® mortgage loan program was designed to bring homeownership within reach to more borrowers. This means you! Tailored specifically to low- and moderate-income homebuyers, Home Poss
accessible home loan financing with HomeReady®
Designed to make home loan financing more accessible, the HomeReady® mortgage loan program provides eligible homebuyers with a variety of ways to achieve their homeownership goals.
Did you kn
what is a conventional loan?
Conventional loans are often referred to as “conforming loans” because they meet the guidelines set by Freddie Mac and Fannie Mae. The most notable guideline is that the maximum loan amount for a single-unit p
what is an FHA loan?
FHA loans are insured by the Federal Housing Administration, which allows lenders to offer mortgage financing to more homebuyers — ones who may not meet the qualifications of conventional loan programs. Because the governme
what is an FHA 203(k) loan?
What happens when you find the home of your dreams – or, at least, it has the potential to be the home of your dreams – but it needs some repairs or modernization?
With one loan, you can buy your new house and
what is down payment assistance?
Down payment assistance programs are put in place to help eligible homebuyers provide funds for their down payment on a new home or closing costs. These are often state-specific.
October 14, 2021
Homeowners insurance protects your home, while private mortgage insurance (PMI) protects your mortgage lender from the effects of loan default.
February 01, 2018
Private mortgage insurance is often required for mortgage loans with less than 20% down.
August 20, 2020
Homeowners insurance protects you and your home in the event of an accident.
February 26, 2018
Private mortgage insurance (PMI) is expensive, and if you bought your home with a down payment of less than 20%, your mortgage lender may have required to you pay monthly PMI payments (the same if you refinanced your home with less than 20% equity).
June 12, 2023
When you apply for a mortgage, lenders consider your credit score – which is determined by these five categories.
May 27, 2020
If your credit score is less than perfect, check out these tips for finding a mortgage loan that suits your needs and improving your score.
February 23, 2024
The first step many people take to build good credit is getting a credit card and paying the full balance with every statement. After a few months of established history, a credit score will populate — and hopefully a pretty good one at that. (
February 16, 2024
Top tips for increasing your credit score.
July 13, 2021
Your DTI ratio compares your monthly debts from bills against your gross monthly income to see how your money is balanced.
We are proud to offer the Freddie Mac BorrowSmart Access℠ program, helping make homeownership more affordable for eligible homebuyers. With this program, homebuyers can receive up to $3,000 in down payment and/or closing cost assistance.
January 16, 2024
The Federal Home Loan Bank of Chicago’s Downpayment Plus® Program offers $10,000 or 25% of the first mortgage amount in down payment assistance (whichever is less) for eligible homebuyers.
what is a USDA loan?
A USDA Guaranteed Rural Housing Loan is a fixed-rate mortgage backed by the U.S. Department of Agriculture. These loans were long thought of as just for farmers, but the program has been expanded in recent years to help families
mortgage loans for veterans and active-duty military
Veterans Affairs (VA) loans provide special financing just for veterans and active-duty members of our military — our small way of saying “thank you.”
VA loans are a special type
home construction loans at waterstone mortgage
Are you ready to build your dream home? Our Single Loan Close Construction Program makes getting one loan for the entire process simple. Let us focus on getting you financed while your general contractor
March 07, 2024
Many home loan programs offer low down payment requirements – or no down payment required at all.
what is the wealth building loan?
With no down payment required and the opportunity to build equity quickly, the Wealth Building Loan is a winning option for many homebuyers.
The Wealth Building Loan was designed with savvy homebuyers in mind –
As the Director of Affordable Housing & Loan Servicing, I enjoy sharing in Waterstone Mortgage's important work with first-time homebuyers. I am also known as “DPA Dave.” It is rewarding to be able to help make the dream of homeowners
