When you get a mortgage loan to buy your home, your lender will require an appraisal to confirm the value of the property. Why? The property serves as collateral for your loan, and lenders want to be sure that they can at least recover the amount loaned if they have to sell because of default. With your final … Continue reading Appraisals and Your Home Mortgage Loan
Tag: mortgage
What does the Monthly Mortgage Payment include? Taxes, Interest & Principal
With mortgage interest rates being at an all time low, many lenders have recommended to their customers different options when buying or refinancing their mortgage. Dependent upon the amount of years they plan to live in their home, more and more mortgage options have been reintroduced into the market and banks have now pushed some of … Continue reading What does the Monthly Mortgage Payment include? Taxes, Interest & Principal
Straight Talk about Mortgage Loan Points
When you are shopping for a mortgage loan, interest rates are most likely at the top of your mind. As you shop lenders for the best rate, however, you will hear another term linked to the interest rate. That term is “points.” For instance, a lender may quote an interest rate of 5.25 percent plus two points. As a … Continue reading Straight Talk about Mortgage Loan Points
How to find a Home Mortgage Lender you can Trust that will be Honest
The more mortgage lenders entering the market, the more potential for dishonesty to just close a deal. There are many websites that advertise, “make lenders compete for your business,” but the only problem with this is many of the lenders do not look properly at your information and send an email giving the basic quote, not … Continue reading How to find a Home Mortgage Lender you can Trust that will be Honest
Check your Credit History before deciding to Purchase a Home
As a home buyer, there are many rules that need to be followed before even placing a bid. Numerous papers need to be in order including a prequalification letter from a lender, the highest amount of price the buyer is willing to spend, the area where the buyer would like to reside, and your credit … Continue reading Check your Credit History before deciding to Purchase a Home
Mortgage Types: A Home Loan Overview
Today’s marketplace has an abundance of mortgage loan options. Choosing the loan that is best suited for you can be confusing and difficult, especially when you are unfamiliar with the jargon. Following are a few quick descriptions of basic mortgage types to help you gain insight in this area: Fixed-Rate MortgageWith a fixed-rate mortgage, borrowers get the … Continue reading Mortgage Types: A Home Loan Overview
The Benefits of using a Mortgage Broker
Trying to find the best mortgage for your needs, your circumstances, and your budget can be a difficult and often frustrating task. The wide selection of mortgage products available today means that consumers can enjoy incredible choice, and this choice increases the chances of getting a great value loan. However, the downside is that you … Continue reading The Benefits of using a Mortgage Broker
Adjustable Versus Fixed Rate Mortgages
One of the biggest decisions you will need to make when buying a home or property is what type of mortgage to choose. Your main choices will come under the umbrella of either a fixed rate mortgage or an adjustable rate mortgage. Both of these mortgages have pros and cons, and your personal circumstances combined … Continue reading Adjustable Versus Fixed Rate Mortgages
How you can Benefit from a Fixed Rate Mortgage
There are a number of different mortgage products available on the market today, and most potential property buyers can find a loan type that suits their needs perfectly. One popular type of mortgage is the fixed rate mortgage, and these have proven very popular over the years with people that want a little stability in … Continue reading How you can Benefit from a Fixed Rate Mortgage
A Comparison of Popular Mortgage Products
Property purchasing and investment has become big business over recent years, and this is reflected in the wide range of mortgage products available for potential property purchasers these days. With such a vast range of choices, it can be hard to decide what type of home loan to opt for. However, there are pros and … Continue reading A Comparison of Popular Mortgage Products
