Articles by this Author
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Home Mortgage Refinancing: A second chance for homeowners with high interest loans
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Home Mortgage refinancing is a great option for homeowners who have a mortgage that is a couple years old, have built up some equity, but find themselves struggling with a high interest debt. The entire home mortgage refinancing process is basically getting your mortgage company or another lender to ...
|
»
How much of your home equity loan interest is tax deductible?
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To find out how much of your home equity loan is tax deductible, you must look the amount of money that you borrowed and the purpose for borrowing it. As with all other financial products, before you start counting the savings from using a home equity loan ...
|
»
You don?t need 10% or 20% down to get a home loan
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The rapid increase in home prices over the past couple of years have left many potential home buyers struggling to come up with their 10% or 20% down payment. If you live in a hot market like Los Angeles, Manhattan or Miami, you might be able to afford the monthly ...
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»
Subprime mortgages: A growing option for customers with bad credit
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Subprime mortgage are home mortgage loans to consumer with poor credit histories. This category includes customers with late payments, foreclosures, bankruptcies and more on their credit applications. It also includes some first time buyers and people without a long credit file. If you are new to the country of ...
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»
How to get the best mortgage rates in any economy
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Mortgage rates are intricately tied to the health of the overall economy as well as consumer demand for home loans. Two of the most important factors are the activities of the Federal Reserve Board and Fannie Mae. The Federal Reserve board sets interest rates for the overall economy ...
|
»
The best way to use your home equity loan
|
A home equity loan gives you another option for financing big ticket items at a lower interest rate. Consumer debt is the single largest reason why consumers try to get a home equity loan. There are many ways for the average American family to buy more and spend more on ...
|
»
Get Approved: Mortgage Application Tips
|
Take time to complete the application Get a comfortable table or desk and spend the time to fill out your mortgage application neatly and correctly. This is not the time to be multitasking. If you are given a paper application at the bank or credit union, ask to bring ...
|
»
Why should I get a second mortgage? It's a good way to pay off high interest debt.
|
Second mortgages are basically any type of home loan that you take out while still making payment on the primary mortgage. This is not an arrangement to be entered lightly because you will end up paying a lot of fees and can rack up a huge debt that negates some ...
|
»
Low mortgage rates are spurring the recent boom in home ownership
|
Anyone serious about buying a home has seen the recent ads offering low mortgage rates for first time buyers and current homeowners. One reason for this mass of offers is that most financial institutions now understand the economic importance of having home owners as a part of their clientele. ...
|
»
Get a biweekly mortgage or make extra payments on your own?
|
Consumers are more aware than ever of the advantages of a biweekly mortgage. This is a type of mortgage where you make two equal payments per month instead of one. A Biweekly mortgage is great because you end up making one extra payment per year. This extra payment will decrease ...
|
»
How Do I Get Preapproved for a mortgage?
|
Getting preapproved for a home loan is one of the best ways to get a leg up on the competition when shopping for a home. The real estate market is soaring because of low interest rates that have brought home buying to average Americans. All over the country, ...
|
»
Beware of Balloon Mortgages
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This is a mortgage where the one payment, usually the last one is bigger than any other payments. Balloon Mortgages are usually set up like a regular 30 year mortgage except that at some date in the future, a large balloon payment will be due. The balloon payment is typically ...
|
»
Subprime mortgages: A growing option for customers with bad credit
|
Subprime mortgage are home mortgage loans to consumer with poor credit histories. This category includes customers with late payments, foreclosures, bankruptcies and more on their credit applications. It also includes some first time buyers and people without a long credit file. If you are new to the country of ...
|
»
You don’t need 10% or 20% down to get a home loan
|
The rapid increase in home prices over the past couple of years have left many potential home buyers struggling to come up with their 10% or 20% down payment. If you live in a hot market like Los Angeles, Manhattan or Miami, you might be able to afford the monthly ...
|
»
What is an Adjustable Rate Mortgage?
|
An adjustable rate mortgage is a type of loan where the interest rate and the monthly payments vary over time. The rates are adjustable usually starting out with the lowest interest rates up front and the highest rates coming later on in the life of the loan. The interest rates ...
|
»
So which is better fixed rate or adjustable rate mortgage?
|
This is a question that keeps coming up when customers start looking at purchasing or refinancing their home. If you look at the average 30 or 15 year mortgage, it seems that the better mortgage depends on the type of customer. The best mortgage is one that fits in ...
|
»
Short on Cash? Get a Mortgage with a Buy Down
|
A buy down is an alternative financing technique where you make significantly lower payments for the first few years of the loan, and make up the difference with larger payments in the later years of the loan. The initial payments might be interest only or less than interest payments, so ...
|
»
The Power of Home Equity Loans
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A home equity loan is a great way to consolidate your debts, get a lower interest rate and manage your household budget. After a few years of paying down your mortgage you can use your new home equity to eliminate all your other debts. A home equity loan allows you ...
|
»
How much house can you afford?
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Your mortgage calculator says: probably a lot less than your mortgage banker says you can. Sometimes you can qualify for a loan but you should not accept it. Why? The monthly payments are more than you can afford. There are lots of laws in place at the state and ...
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Want to Buy a Home? What is your debt to income ratio?
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Every time you apply for a credit or a loan, the lender must determine your debt to income ratio. This measures what percentage of your gross monthly income (everything before taxes are deducted) that goes towards paying off your debts. The debt to income ratio formula varies slightly according to ...
|
»
Shared Equity Mortgage
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When you get a shared equity mortgage a private seller or investor will make a down payment on the home and share in the equity. The investor can pull their investment if you return the down payment plus all accrued equity once the property is sold. One alternative financing ...
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»
Secondary Mortgage Market Sets the Standards and Practices for Mortgage Lending
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The Secondary Mortgage Market is responsible for the setting many of the rules and common practices that determines who gets a home loan. The secondary market includes Fannie Mae (Federal National Mortgage Association or FNMA), Freddie Mac (Federal Home Loan Corporation or FHLMC), Ginnie Mae (Government National Mortgage Association or ...
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Where can I get a home loan? Here Are The Top 5 Mortgage Lending Institutions
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There are hundreds of sources for home loans online and right in your neighborhood. Banks, Credit Unions, Mortgage Bankers, Government Agencies and Private Sellers all offer different sources of financing for anyone shopping for a mortgage. Neighborhood Banks One of the best resources for getting a home loan is ...
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What are "interest only" mortgages?
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Mortgages are considered to be “interest only” if your monthly payment does not cover the entire loan payment due, that is the mortgage interest and a payment to decrease the loan principal. Every month you are paying the interest only and this means that the loan is literally not ...
|
»
Home Equity Loan or a Home Equity Line of Credit?
|
A home equity loan is good for items that require one large payment. This is why so many consumers use it for debt consolidation. The interest rates on home equity loans are low enough to be beat out the prevailing rates on almost every other type of consumer debt. In ...
|
»
Getting pre-approved for a home loan is one of the best ways to get a leg up on the competition when shopping for a home.
|
The real estate market is soaring because of low interest rates that have brought home buying to average Americans. All over the country, more renters are buying and homeowners are upgrading their properties. In this hot seller’s market, a pre-approval letter from your mortgage lender can help you secure a ...
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Mortgage Consumer Bill of Rights
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This bill of rights was laid out by Franklin Raines, President of Fannie Mae on January 15, 2000. The Mortgage Consumer Bill of Rights is a pledge of $2 trillion over 10 years to help consumers gain access to home ownership. It also includes an “Open Book” approach to underwriting ...
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Mortgage brokers can help you save time and money
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A good mortgage broker can help you search through hundreds of mortgage products, and lenders to find the perfect fit for your financial situation. The average buyer does not have years of experience in evaluating financial products and services. The average mortgage broker spends their entire day doing these ...
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»
Beware of Balloon Mortgages
|
This is a mortgage where the one payment, usually the last one is bigger than any other payments. Balloon Mortgages are usually set up like a regular 30 year mortgage except that at some date in the future, a large balloon payment will be due. The balloon payment is typically ...
|
»
Subprime mortgages: A growing option for customers with bad credit
|
Subprime mortgage are home mortgage loans to consumer with poor credit histories. This category includes customers with late payments, foreclosures, bankruptcies and more on their credit applications. It also includes some first time buyers and people without a long credit file. If you are new to the country of ...
|
»
A Blanket Mortgage covers multiple properties on the same loan
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Blanket mortgages are mostly used by commercial developers for one of two purposes: first, they might have a plot of land that they plan to develop into multiple lots and sell them off. Instead of getting a mortgage on each individual lot, they get a blanket mortgage for the ...
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»
You don't need 10% or 20% down to get a home loan
|
The rapid increase in home prices over the past couple of years have left many potential home buyers struggling to come up with their 10% or 20% down payment. If you live in a hot market like Los Angeles, Manhattan or Miami, you might be able to afford the monthly ...
|
»
Low mortgage rates are spurring the recent boom in home ownership
|
Anyone serious about buying a home has seen the recent ads offering low mortgage rates for first time buyers and current homeowners. One reason for this mass of offers is that most financial institutions now understand the economic importance of having home owners as a part of their clientele. ...
|
»
What is an Adjustable Rate Mortgage?
|
An adjustable rate mortgage is a type of loan where the interest rate and the monthly payments vary over time. The rates are adjustable usually starting out with the lowest interest rates up front and the highest rates coming later on in the life of the loan. The interest rates ...
|
»
Anyone can get free mortgage quotes online
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If you are looking a purchase a home in the near future you can get free mortgage quotes online and offline. If you have an existing relationship with a bank or credit union, you can contact their customer service department or walk into a branch office and speak with a ...
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What is an Assignment of Mortgage?
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Most mortgages are sold at least once during the life of the loan. A mortgage company or your local bank will sell the loan to free up their cash and then lend out more money other home buyers. When the mortgage is sold of it is called an assignment. The ...
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What is your Assessed Home Value?
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The numerical value The value of your property as determined by your county tax assessor. This is the numerical value of your home that is used to determine the amount that you owe in property taxes. Individual tax assessors have a great amount of discretion when they try to determine ...
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First time home buyers can find national and local mortgage lenders online
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If you're a first time home buyer, you might be intimidated by looking into home loans. There is a wealth of information online and offline to help you learn about the home loan application process, but you must know how to sift through all the information. So, where do you ...
|
»
How much of your home equity loan interest is tax deductible?
|
To find out how much of your home equity loan is tax deductible, you must look the amount of money that you borrowed and the purpose for borrowing it. As with all other financial products, before you start counting the savings from using a home equity loan to finance ...
|
»
So which is better fixed rate or adjustable rate mortgage?
|
This is a question that keeps coming up when customers start looking at purchasing or refinancing their home. If you look at the average 30 or 15 year mortgage, it seems that the better mortgage depends on the type of customer. The best mortgage is one that fits in ...
|
»
Short on Cash? Get a Mortgage with a Buy Down
|
A buy down is an alternative financing technique where you make significantly lower payments for the first few years of the loan, and make up the difference with larger payments in the later years of the loan. The initial payments might be interest only or less than interest payments, so ...
|
»
The Power of Home Equity Loans
|
A home equity loan is a great way to consolidate your debts, get a lower interest rate and manage your household budget. After a few years of paying down your mortgage you can use your new home equity to eliminate all your other debts. A home equity loan allows you ...
|
»
Get a biweekly mortgage or make extra payments on your own?
|
Consumers are more aware than ever of the advantages of a biweekly mortgage. This is a type of mortgage where you make two equal payments per month instead of one. A Biweekly mortgage is great because you end up making one extra payment per year. This extra payment will decrease ...
|
»
Why should I get a second mortgage? It's a good way to pay off high interest debt.
|
Second mortgages are basically any type of home loan that you take out while still making payment on the primary mortgage. This is not an arrangement to be entered lightly because you will end up paying a lot of fees and can rack up a huge debt that negates some ...
|
»
Home Equity Loan or a Home Equity Line of Credit?
|
A home equity loan is good for items that require one large payment. This is why so many consumers use it for debt consolidation. The interest rates on home equity loans are low enough to be beat out the prevailing rates on almost every other type of consumer debt. In ...
|
»
Are you so desperate for a home loan that you are stretching your finances too far?
|
Once you get a quote for a home loan don't be tempted to take the entire amount if it looks like you overqualified. Most consumers fill out an application for a home loan and hope they can get enough money to buy their dream house. A nice chunk of ...
|
»
Want to Buy a Home? What is your debt to income ratio?
|
Every time you apply for a credit or a loan, the lender must determine your debt to income ratio. This measures what percentage of your gross monthly income (everything before taxes are deducted) that goes towards paying off your debts. The debt to income ratio formula varies slightly according to ...
|
»
Shared Equity Mortgage
|
When you get a shared equity mortgage a private seller or investor will make a down payment on the home and share in the equity. The investor can pull their investment if you return the down payment plus all accrued equity once the property is sold. One alternative financing ...
|
»
How to get the best mortgage rates in any economy
|
Mortgage rates are intricately tied to the health of the overall economy as well as consumer demand for home loans. Two of the most important factors are the activities of the Federal Reserve Board and Fannie Mae. The Federal Reserve board sets interest rates for the overall economy and ...
|
»
Short on cash? Finance the Mortgage Points
|
Once you get a quote for a home loan don't be tempted to take the entire amount if it looks like you overqualified. Most consumers fill out an application for a home loan and hope they can get enough money to buy their dream house. A nice chunk of ...
|
»
What are "interest only" mortgages?
|
Mortgages are considered to be 'interest only' if your monthly payment does not cover the entire loan payment due, that is the mortgage interest and a payment to decrease the loan principal. Every month you are paying the interest only and this means that the loan is literally not ...
|
»
Home Mortgage Refinancing: A second chance for homeowners with high interest loans
|
Home Mortgage refinancing is a great option for homeowners who have a mortgage that is a couple years old, have built up some equity, but find themselves struggling with a high interest debt. The entire home mortgage refinancing process is basically getting your mortgage company or another lender to pay ...
|
»
Lease Options: Why buy when you can rent!
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A lease option agreement gives you the right to take possession of a property and then buy it later on. This is an alternative financing arrangement because you take possession of a home but you don't actually own the home. The seller, in this case the homeowner, has an obligation ...
|
»
The best way to use your home equity loan
|
A home equity loan gives you another option for financing big ticket items at a lower interest rate. Consumer debt is the single largest reason why consumers try to get a home equity loan. There are many ways for the average American family to buy more and spend more on ...
|
»
Get Approved: Mortgage Application Tips
|
Take time to complete the application Get a comfortable table or desk and spend the time to fill out your mortgage application neatly and correctly. This is not the time to be multitasking. If you are given a paper application at the bank or credit union, ask to bring ...
|
»
How Do I Get Preapproved for a mortgage?
|
Getting preapproved for a home loan is one of the best ways to get a leg up on the competition when shopping for a home. The real estate market is soaring because of low interest rates that have brought home buying to average Americans. All over the country, more ...
|
|
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