An agent open house is open to real estate agents only and helps them become familiar with the property. Through your local North American Mortgage Company office, you can obtain a Purchase Express card a true pre-approval. Meanwhile, the loan pre-qualification is a simple exercise during which you get an estimate of how large a loan you may be able to obtain. It s just an estimate no credit report is checked and no promise of a loan is made at this stage. A second mortgage is a lien with a priority less than the first mortgage.
People often get second mortgages for home improvements.
A home equity loan is a second mortgage. When a lender sells your mortgage, either a first or second mortgage, it is sold in the secondary market. Buyers in this market include investors such as Fannie Mae and Freddie Mac. Condominium A townhouse generally has two or more floors and is attached to other similar units via common walls. Technically, a condo is a system of ownership of individual units in a multi-unit structure, combined with joint ownership of common areas.