LEARNING CENTER

10th June 2018

Debt Consolidation

There’s no need to struggle with the high interest rates of credit cards any longer! Whatever your reason for falling into debt, Somerset can help get you back on your feet. Our debt consolidation specialists can help you: Lower Your Monthly Payment You'll benefit from Read More

Home Equity Loan vs. Home Equity Line of Credit

4th June 2018

Mortgage lender list

Home Equity Loan vs. Home Equity Line of Credit

There are advantages and disadvantages to both home equity loans (HELs) and home equity lines of credit (HELOCs), making the choice between the two dependent on your unique needs and circumstances. Amount You Can Borrow Both home equity loans and Read More

30th May 2018

Mortgage lender list

How Much Mortgage Can I Afford?

To establish how much mortgage you can realistically afford, you can use one of two main formulas - called “Qualifying Ratios”. Qualifying ratios examine a person’s income and expenses in order to estimate how much money can reasonably be spent Read More

25th May 2018

Mortgage lender list

How to Apply for a Mortgage

Once you select a lender and a mortgage suitable to your needs and abilities, it’s time to officially apply for that mortgage. Submitting an application for a mortgage can seem intimidating at first, but it need not be difficult. Before Read More

20th May 2018

Mortgage lender list

How FHA Works

The Federal Housing Administration (FHA) does not directly make loans to borrowers but rather provides insurance on loans made by approved lenders. FHA-insured mortgages can be obtained for single-family, multi-family, manufactured and mobile homes, and hospitals. The FHA was created Read More