|Mortgage & Refinancing Information|
Selecting the Right Mortgage for You
A mortgage is a loan you take out to buy a home. This loan covers the "principal" (purchase price of the house minus your down payment) plus the "interest," which is the fee a lender charges you to borrow the money.
There are various types of mortgages, including Fixed-rate, Adjustable-rate, Balloon, VA, FHA, and FmHA. It is important to select the one that is right for you.
With a fixed-rate mortgage, your interest rate stays the same, or "fixed," throughout the term of the loan. Therefore, your mortgage payment stays predictably the same, making it easier to plan your spending each month. However, lenders typically charge a higher interest rate to make up for the lost income that could be gained from a rate increase. Charging a higher interest rate lowers the total amount you can borrow. And though you're protected from rising interest rates, you're also stuck with a certain rate even if the going rates fall.
The most common fixed-rate mortgages are 15-year and 30-year, which refer to the time you have to pay off the loans. The interest rate on a 15-year mortgage is usually lower than a 30-year mortgage, meaning you'll pay less over the life of the loan. But your monthly payments will be higher since you have half the time to pay off the mortgage.
Adjustable-rate mortgages are also called ARMs or adjustables. These mortgages typically start off with a lower "teaser" interest rate that stays fixed for a specified time, and then "adjusts" periodically depending on changes in the market interest rate. The risk to you is that the interest rate-tied to a money market index such as the one-year U.S. Treasury bill or certificates of deposit-will fluctuate, and so will your payment. Your lender can tell you the highest possible monthly payment you would owe if the interest rate hit its max, or cap. You must be sure you can afford it!
A good reason for considering an ARM is if you don't plan to stay in your home for very long; another is if you're sure your income will increase enough to cover the maximum payment possible. And, of course, if interest rates go down, so will your payments. With these loans, the lender is taking less risk since he or she gets to charge you more interest when the rates go up. As a result, you can typically borrow a larger amount, making it possible to buy a home you wouldn't otherwise be able to afford.
An example of an ARM is the 10/1 ARM. This loan has a fixed interest rate (and monthly payment) for the first 10 years, with an annual (that's what the "1" in "10/1" refers to) adjustment to the interest rate for the next 20 years of a 30-year loan. The lower the first number, (for example 7/1 ARM, 3/1 ARM or even 6-month ARM), the lower your initial interest rate. How often rates are adjusted is established at the time you apply for your loan.
Balloon loans have a lower interest rate than a fixed-rate mortgage. The interest rate stays stable for a specified time-such as five, seven or ten years. But when that time is up, you still have to pay off the entire balance of the loan. Borrowers consider balloon loans when they don't qualify for a traditional mortgage, or during periods of high interest rates. The idea is to refinance when the loan balance is due.
VA, FHA and FmHA mortgages
If you have less than 20% of the purchase price to apply to a down payment, you can ask your lender about loans guaranteed by the government organizations below. These mortgages offer competitive interest rates, with little to no money down, such as:
* Veteran's Administration (VA) mortgage: Qualifying veterans can get VA loans with no money down for houses valued at up to $203,000.
* Federal Housing Administration (FHA) mortgage: Designed for people with modest income, these mortgages usually require a down payment of around 3% to 5% of the purchase price and offer competitive interest rates.
* Farmers Home Administration (FmHA) mortgage:. These no-money-down loans are for individuals with limited income who prefer to live in rural communities. Interest can be as low as 1%.
Here are some important questions to ask your lender to help determine which loan is right for you:
? Penalties. Can you pay off the loan early without prepayment penalties?
? Insurance and taxes. What are the provisions for homeowners insurance and property taxes? With some loans, lenders insist you pay these expenses directly to them on a prorated basis, while they hold the money in a separate escrow account. The insurance and tax bills come straight to the lender, who then pays them with your money.
? Loan limitations. Are there limitations on your right to borrow additional money from another source to facilitate your closing?
? Interest rates/mortgage balance. Will your mortgage balance increase if interest rates go up? This is called "negative amortization," and it's as bad as it sounds! It has to do with adjustable-rate mortgages that place limits on the increase in your monthly payment without capping the interest rate. The result is that if interest rates go way up, your payments don't cover all the interest on your loan, and so your mortgage balance increases. Your balance is supposed to amortize-or gradually decrease over time. With negative amortization, the reverse is true!
? Assumable mortgage. Is the mortgage assumable? When you sell your home, can the buyer take over what's left of your loan balance? Most assumable mortgages are adjustable-rate rather than fixed-rate mortgages.
? Second mortgage/home equity loan. Can you borrow additional money against the home with a second mortgage or a home equity loan at a later date?
? Selling limitations. Are there limitations on selling the property without paying off the loan?
? Total cost. What is the total cost of the loan, including service charges, appraisal fees, survey costs, escrow fees, etc.?
? What is a "point"?
Lenders make money on the interest they charge. "Points," (also known as "loan origination fees"), are up-front interest to compensate the lender for processing your mortgage. Each point equals 1% of the loan. For example, if you borrow $200,000, one point would equal $2000. Points are also referred to as "discount points" because usually the more points you pay, the lower the interest rate is, saving you money in the long haul. "Zero-point" loans exist, but the trade-off is you'll pay a higher interest rate, making for higher monthly payments over the life of the loan. Points, like interest rates, are negotiable; try to make them fit your situation.
Do your homework!
Since knowledge about the various options will affect your monthly mortgage payments for the next 30 years, it is important that you do your homework! Then consult your real estate attorney or another trusted source to discuss your options until you feel you can make the best choice for your situation.
Genesis Font is an SEO and Developer for LoansInteractive.com - Mortgage and Loan Officer Websites. We also offer Quality Web Hosting Services.
Mortgage rates are low. Here's how to figure out if you should refinance NBC News
Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage.
Mortgage rates are low. Here's how to figure out the best plan for your budget CNBC
The recent drop in mortgage rates may have you dreaming of buying a new home or refinancing your current house. But first, you need a plan.
Mortgage refinance boom goes bust as rates shift higher CNBC
A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. Mortgage application volume fell ...
Homeowners are rushing to refi mortgages as rates drop The Real Deal
Homeowners throughout the country are looking to refinance their mortgages thanks to lower borrowing costs, contributing to a sharp government bond rally.
These are the best (and worst) reasons to refinance your mortgage Bankrate.com
Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ...
Fixed mortgage rates increase for the fourth week in a row The Washington Post
It wasn't much of a lift, but fixed mortgage rates moved higher for the fourth straight week. According to the latest data released Thursday by Freddie Mac, the ...
Rising mortgage rates again reduce refinance application volume National Mortgage News
Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to ...
Refinance mortgage rates mixed for Monday Bankrate.com
Refinance rates were mixed today. If you haven't locked a refi yet, see how your future mortgage payments could be affected.
5 million homeowners suddenly "in the money" to refinance | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
5 million homeowners suddenly "in the money" to refinance | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Millions of homeowners could now save each month on their mortgage payments, according to a new report. That's because they're suddenly “in the money” to ...
Refinance mortgage rate eases for Monday Bankrate.com
Refinance rates were mixed, but one key rate slid lower. See what that means for you if you're in the market for a home loan.
Refinance mortgage rate dips for Saturday Bankrate.com
Refinance rates were mixed, but one key rate declined. See what that means for you if you're in the market for a home loan.
Mortgage Traders Breathe Easier as the Risk of a Refinancing Wave Ebbs Bloomberg
Mortgage investors are breathing a sigh of relief amid signs a potential surge in prepayments set to weigh on returns may be avoided.
Refinance mortgage rate slides for Wednesday Bankrate.com
Refinance rates were mixed, but one key rate declined. If you're in the market for a mortgage, see what that means for you.
Weekly mortgage applications fall as the highest rates in a month are spooking spring buyers CNBC
Homebuyers had been brushing off the slight rise in rates over the past few weeks, but as those rates move even higher, buyers are now pulling back.
Refinance rates move higher for Wednesday Bankrate.com
Multiple key refinance rates notched higher today. See what that means for your refinance.
Mortgage rates fall for Wednesday Bankrate.com
Multiple key mortgage rates fell today. See how that could affect your mortgage payments.
Refinance mortgage rates mixed for Saturday Bankrate.com
Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.
Did you refinance your home mortgage last year? You can still qualify for often-overlooked deductions - MarketWatch
Did you refinance your home mortgage last year? You can still qualify for often-overlooked deductions MarketWatch
f you refinanced your home mortgage last year, you may be in line for some often-overlooked tax deductions on your yet-to-be-filed 2018 Form 1040.
Here's how many borrowers should refinance after the recent drop in mortgage rates HousingWire
Mortgage rates fell 22 basis points last week to 4.06%, an event that will likely be a gamechanger for the refinance market. According to the latest report from ...
Refinance rates decline for Tuesday Bankrate.com
Multiple closely watched refinance rates decreased today. See what that means for you if you're in the market for a home loan.
Refinance rates dip for Monday Bankrate.com
Several benchmark refinance rates were down today. If you're in the market for a home loan, see what that means for you.
Closed loan and refinance shares grow on sinking mortgage rates National Mortgage News
Mortgage rates continued to decline through the spring home buying season, driving up the share of refinance loans and overall closing rates, according to Ellie ...
Mini refinancing boom is a boost for lenders The Real Deal
There has been a mini surge in mortgage and refinancing applications spurred by falling mortgage rates, the Wall Street Journal reports.
Refinance rates rise for Friday Bankrate.com
Multiple closely watched refinance rates notched higher today. See what that means for you if you're in the market for a home loan.
Refinance rates ratchet higher for Friday Bankrate.com
Several closely watched refinance rates advanced today. If you're in the market for a home loan, see how your payments might be affected.
Refinanced office and water park loans highlight $938M Wells CMBS Asset Securitization Report
A renovated office complex in Florida and a recently built Great Wolf Lodge resort in Orange County make up two of the largest loans in Wells' latest conduit.
Quicken Loans will now let Vrbo hosts use rental income to refinance their mortgage HousingWire
A little over a year ago, Airbnb partnered with some of the nation's largest mortgage players, including Fannie Mae and Quicken Loans, to allow hosts using the ...
Refinance rates ease for Thursday Bankrate.com
Several closely watched refinance rates fell today. See what that means for your chances of getting a better mortgage rate.
Refinance rates rise for Thursday Bankrate.com
Multiple closely watched refinance rates trended upward today. If you're in the market for a refi, see how your future mortgage payments could be affected.
Mortgage rates continue to nose-dive as 30-year fixed experiences biggest one-week drop in a decade - The Washington Post
Mortgage rates continue to nose-dive as 30-year fixed experiences biggest one-week drop in a decade The Washington Post
Just a handful of months ago, mortgage rates were soaring. Now they are sinking. According to data released Thursday by Freddie Mac, the 30-year fixed-rate ...
Refinance rates retreat for Wednesday Bankrate.com
Multiple benchmark refinance rates sunk lower today. If you're in the market for a mortgage, see what that means for you.
Important mortgage rate dips for Tuesday Bankrate.com
Mortgage rates diverged today, but one key rate declined. See what that means for you if you're in the market for a mortgage.
Refinance rates trend higher for Wednesday Bankrate.com
Several closely watched refinance rates notched higher today. If you're in the market for a home loan, see what that means for you.
Saudi Real Estate Refinance Co plans up to 4 bln riyal sukuk sale... Reuters
Saudi Real Estate Refinance Co (SRC), modelled on U.S. mortgage finance firm Fannie Mae, aims to issue up to 4 billion riyals ($1.07 billion) of long-term sukuk ...
Refinance rates slide for Friday Bankrate.com
Several key refinance rates decreased today. See what that means for you if you're in the market for a mortgage.
Mortgage rates up for Friday Bankrate.com
Multiple benchmark mortgage rates climbed today. If you're shopping for a mortgage, see what that means for you.
Jim's Credit Corner - April 14 The Grand Junction Daily Sentinel
Jim,. My wife and I have decided to start divorce proceedings. While we have both agreed to pay certain bills until the divorce is final, I'm concerned my spouse ...
Liz Weston: How debt 'solutions' could dig you in deeper Tampa Bay Times
Taking on a lower interest loan to pay off credit cards gives some a false sense they are free to spend more.
Refinance rates trend higher for Monday Bankrate.com
Several key refinance rates floated higher today. See what that means for you if you're in the market for a home loan.
Refinance rates tick lower for Friday Bankrate.com
Several benchmark refinance rates trended down today. If you're shopping for a refinance, see what that means for you.
Refinance rates drop for Saturday Bankrate.com
Several key refinance rates sunk lower today. If you're shopping for a refi, see how your payments might be affected.
Mortgage rates today, April 2, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage rates today, April 2, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Average mortgage rates rose again yesterday, as we predicted. However, they moved up much more sharply than expected. It was a bad day. Markets yesterday ...
Mortgage rates taper off for Friday Bankrate.com
Several benchmark mortgage rates dropped today. See what that means for you if you're in the market for a mortgage.
NerdWallet: How debt 'solutions' could dig you in deeper South Bend Tribune
Americans are slipping ever deeper into hock. To cope, many people turn to debt consolidation loans, cash-out mortgage refinancing and retirement plan loans ...
Novus Home Mortgage Launched National Mortgage Professional Magazine
Panorama Mortgage Group has launched Novus Home Mortgage as a new brand, focusing on conventional, government and specialty mortgages for the ...
How to Get a Mortgage for a Rental Property U.S News & World Report Money
Mortgages for a rental property are different from home loans for your primary residence. For example, the interest rates for a rental property may be higher.
The new digital divide is between people who opt out of | Cosmos Cosmos
Smart people are questioning the influence of artificial intelligence on many aspects of their lives. Anjana Susaria of Michigan State University in the US.
I Got an Adjustable-Rate Mortgage and Wow, What a Ride! Realtor.com News
I got an adjustable rate mortgage, or ARM—and here's how this decision impacted our finances over five, 10 years—and beyond.
Rent near me: Housing inequality mirrors income inequality, says study Curbed
Cost increases much higher for low-income renters than high-income homeowners, exacerbating income divide.
Key Factors to Impact New Residential's (NRZ) Q1 Earnings Yahoo Finance
New Residential Investment Corp. NRZ is scheduled to report first-quarter 2019 results on May 1, before market open. The company's results will likely display ...
Mortgage rates today, March 26, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage rates today, March 26, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Yesterday was another good day for average mortgage rates. As we predicted, they fell again, but nothing like as sharply as they did on Friday. Still, the ...
Saudi Real Estate Refinance Co. plans up to $1.07bn sukuk sale this year Arab News
RIYADH: Saudi Real Estate Refinance Co. (SRC), modelled on US mortgage finance firm Fannie Mae, aims to issue up to 4 billion riyals ($1.07 billion) of ...
Lower Mortgage Rates No Relief for US Home Sales WOLF STREET
Across the US, hot and cold housing markets all thrown into one bucket: Sales of “existing homes” (single-family houses, townhouses, condos, and co-ops) in ...
Mortgage competition banned at Laguna Woods co-ops OCRegister
What's up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary. From Freddie Mac's weekly survey: ...
Mortgage refinancing spree becomes a race against the clock Bankrate.com
Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ...
Why the world’s biggest bond investor is dismissing the yield curve’s recession warning - MarketWatch
Why the world’s biggest bond investor is dismissing the yield curve’s recession warning MarketWatch
Pimco's chief investment officer says the U.S. is unlikely to see a recession this year.
A Growing Gap in Consumers' Awareness of Algorithmic Influence Undark Magazine
Opinion | A digital literacy gap is widening between consumers who know how to opt out of the algorithmic curation of their personal data and those who don't.
Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes Credible News
Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind.
Quicken Loans includes rental income in mortgage qualification Mortgage Professional America
Owners of vacation properties rented out through Vrbo will now be able to use income from those rentals to qualify for a refinance mortgage from Quicken Loans.
Struggling widow’s big win over Westpac in mortgage battle 9news.com.au
A widow who battled with Westpac for years over a painfully high interest rate to her mortgage has had a big win after the bank apologised. Tracey Lewis's late ...
Boomerang buyers: More people who lost homes during housing crisis are buying again USA TODAY
More people who lost homes to foreclosures or short sales in the housing crisis are buying again. Many plan to buy within 3 years.
Linda Aparo: Missing, Defective Lien Releases are an 'Epidemic' Mortgageorb
PERSON OF THE WEEK: Lien release has always been a problematic area for mortgage lenders and title companies. With alarming frequency, lien releases ...
Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ...
What to consider before determining whether to refinance your mortgage Washington Post
REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ...
Key mortgage rate moves upward for Wednesday Bankrate.com
Mortgage rates diverged today, but one key rate climbed. If you're shopping for a mortgage, see how that could affect you.
5 Signs It's Time To Refinance Your Mortgage Forbes
You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ...
Mortgage refinance applications hit 18-year low CNBC
Mortgage refinance applications hit an 18-year low. With no major move in interest rates and continued weakness in home affordability, there was not a lot of ...
OpEd: Affordable Housing Requires A New Shape For The Mortgage Industry Africa.com
There are two essential parts to achieving affordable housing: building decent, low-cost homes, and developing a housing finance market that enables ...
Still haven’t refinanced your mortgage? You still have an opportunity to save big Bankrate.com
Mortgage rates seem to be the only thing that's affordable in today's low-inventory, high-priced housing market. This is good news for both homebuyers and ...
FNF Reports First Quarter 2019 Diluted EPS of $0.74 and Adjusted Diluted EPS of $0.43, Pre-Tax Title Margin of 19.2% and Adjusted Pre-Tax Title Margin of 11.3% - Yahoo Finance
FNF Reports First Quarter 2019 Diluted EPS of $0.74 and Adjusted Diluted EPS of $0.43, Pre-Tax Title Margin of 19.2% and Adjusted Pre-Tax Title Margin of 11.3% Yahoo Finance
JACKSONVILLE, Fla., April 24, 2019 /PRNewswire/ -- Fidelity National Financial, Inc. (FNF), a leading provider of title insurance and transaction services to the ...
Subservicer Products; Vendor Updates - Raising Money, Buying Lenders, and Using Blockchain - Mortgage News Daily
Subservicer Products; Vendor Updates - Raising Money, Buying Lenders, and Using Blockchain Mortgage News Daily
Should small, non-depository mortgage bankers be concerned about big banks renewing their interest in FHA loans? Probably. Bank of America is promoting its ...
Washington Prime Group Announces Execution of $180M Non-Recourse Mortgage Note Secured by Waterford Lakes Town Center - Associated Press
Washington Prime Group Announces Execution of $180M Non-Recourse Mortgage Note Secured by Waterford Lakes Town Center Associated Press
Press release *content* from Globe Newswire. The AP news staff was not involved in its creation.
Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com
Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...
Refinance rates slide for Tuesday Bankrate.com
Multiple closely watched refinance rates receded today. If you're in the market for a home loan, see what that means for you.
The main reason to refinance your mortgage: Save money Chicago Tribune
A substantial drop in interest rate on a fixed rate mortgage could save you money with a refinance. But you must factor in closing costs on the transaction.
Mortgage rates drop below 4.5%. Homeowners scramble to refinance | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage rates drop below 4.5%. Homeowners scramble to refinance | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
There is a quiet refinance boom brewing, as mortgage rates sink to 9-month lows. Not since April 2018 have rates been this low. Freddie Mac, in its weekly ...
How should I apply for a mortgage refinance: in person, by phone or online? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
How should I apply for a mortgage refinance: in person, by phone or online? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
You can apply for a mortgage refinance in person, over the phone or online. Just make sure that the company is legitimate before providing personal information ...
Mortgage industry crucial in creating self-reliant citizens Arab News
The opening day of the Financial Sector Conference in Riyadh addressed big themes — macro-economics, capital markets, multibillion-dollar bond issues ...
Refinance rates ease for Friday Bankrate.com
Multiple benchmark refinance rates ticked downward today. If you're in the market for a mortgage, see what that means for you.
How to refinance to pay off a mortgage faster | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
How to refinance to pay off a mortgage faster | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
You probably have a number of ways to pay off a mortgage faster. You can refinance to a shorter term, pay more on your existing mortgage or free up your ...
Should You Refinance Your Mortgage? Forbes
Evidently many mortgage borrowers fail to understand that mortgage refinances have a variety of possible purposes, and their success depends on a variety of ...
Refinance mortgage rates mixed for Tuesday Bankrate.com
Refinance rates were mixed today. If you're in the market for a refi, see how that could affect you.
Neighbourhood Stops and Shops: Trusted services from top-tier Mortgage Broker John Filice - Beach Metro News
Neighbourhood Stops and Shops: Trusted services from top-tier Mortgage Broker John Filice Beach Metro News
By SURINA NATH. Local residents are saving money on their mortgages with help from licensed AMP Mortgage Broker John Filice. With more than 30 years of ...
Mortgage application increase led by higher refinance volume National Mortgage News
Mortgage applications increased last week but unlike the prior period, it was driven by refinance volume as interest rates fell to a one-year low, according to the ...
How The 2020 Candidates Will Address Student Loan... The University Network
As graduating seniors unravel their freshly-printed diplomas, it's hard for them to see anything but a bill. Today, U.S. college students are paying more in student ...
Refinance rates move lower for Monday Bankrate.com
Several benchmark refinance rates tapered off today. If you're shopping for a home loan, see what that means for you.
Refinance mortgage rate moves lower for Wednesday Bankrate.com
Refinance rates were mixed, but one key rate fell. The average for a 30-year fixed-rate refinance trended down, but the average rate on a 15-year fixed refinance ...
Couldn't qualify to refinance last year? Lenders more likely to say yes in 2019 | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Couldn't qualify to refinance last year? Lenders more likely to say yes in 2019 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
If you have been wanting to refinance but had a hard time getting approved, 2019 might be your year. Lenders are allowing higher debt-to-income ratios, ...
Factors to weigh when considering whether to refinance your home Washington Post
Q: I was offered a mortgage “recast” and I need help evaluating if it is a sound financial move. My home is worth $250,000. I owe about $68,000, as I have been ...
My second mortgage rate is too high! What should I do? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
My second mortgage rate is too high! What should I do? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
If your second mortgage rate is too high, you have many options. The trick is to identify the best one. Here's how you can do that.
Freddie Mac Enhanced Relief Refinance (FMERR) 2019 guidelines, rates, and benefits | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Freddie Mac Enhanced Relief Refinance (FMERR) 2019 guidelines, rates, and benefits | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
The Freddie Mac Relief Refinance Program (FMERR) allows homeowners to refinance with little or no home equity. Home value dropped since you purchased?
Refinance mortgage rate moves higher for Monday Bankrate.com
Refinance rates were mixed, but one key rate trended upward. If you're in the market for a mortgage, see how your payments might be affected.
New VA rules aimed at curbing predatory lending for cash-out mortgage refinances Bankrate.com
An interim final rule on VA-guaranteed cash-out refinance loans was published on February 19 to protect borrowers from predatory lenders. The rule executes ...
Mortgage refinance applications decline to 18-year low: MBA National Mortgage News
Mortgage applications decreased 1.8% from one week earlier as refinance submissions fell to their lowest in nearly 18 years, according to the Mortgage Bankers ...
Refinance rates fall for Wednesday Bankrate.com
Multiple benchmark refinance rates declined today. Nationwide averages for 30-year fixed and 15-year fixed refinances both slid down. The average rate on ...
Refinance rates drop off for Monday Bankrate.com
Multiple benchmark refinance rates fell today. The nationwide average for a 30-year fixed-rate refinance ticked downwards, but the average rate on a 15-year ...
Refinance rates retreat for Monday Bankrate.com
Multiple benchmark refinance rates tapered off today. If you're in the market for a mortgage, see how your payments might be affected.
Ellie Mae: Millennials' interest in mortgage refinance spikes HousingWire
In January, slightly lower interest rates led to Millennial homebuyers increasing their requests to refinance their mortgages. In fact, according to Ellie Mae's latest ...
Refinance mortgage rate advances for Tuesday Bankrate.com
Refinance rates were mixed, but one key rate floated higher. See what that means for your chances of getting a better mortgage rate.
Key an Eye on Your Mortgage Payments
In previous decades, when a borrower missed a payment on a mortgage, the lender would often consider them one month behind until they eventually caught up. Most lenders would impose a late fee and other interest or penalties, tacking them onto the back end of the loan as long as the lender stayed current with the rest of their payments.
Should You Choose to Refinance?
Refinancing has become a valid option for many individuals with high interest rates on their mortgage. Refinancing is essentially a replacement loan, with a different lender and (hopefully) a lower interest rate.
Home Owner Loans Explained
How To Release Equity Locked Up In Your Home For Immediate Use.Free up the monetary worth tied up in your property by asking your financial advisor for information on a secured home owner loan.
Tips For First Home Buyers On Getting Home Loans
Buying your first home will likely be the biggest and most important purchase you will ever make. It can be a very stressful and may even leave you sleepless for nights on end wondering whether you are making the right decision - especially where choosing the right home loan is concerned.
Lesser Known Facts About Home Equity Loans
Refinancing your debt via a home equity loan shifts your debts loan to your home. The flip side to such a move is that your home is on the line.
Home Equity Loan - Good Choice for Luxury Purchases?
Home equity loans or lines of credit have increased dramatically in popularity in recent years. One of the reasons is that interest rates are at or near historic lows; borrowing money has rarely been more affordable.
Home Mortgages: Think Before You Borrow
In today's overheated housing market, lenders are making it easier and easier to get a mortgage. For example, some lenders have lowered the credit score needed to qualify for a mortgage.
Financing the Purchase of Foreclosed Homes
Homes that have been foreclosed can be one of the most economical ways to get into a nice home without having to pay exorbitant costs. It's also a great way to get in on the real estate investment game as a beginner.
The biweekly mortgage has been around for years but with the recent media attention to the real estate industry in general and the mortgage industry in particular, the biweekly has been getting thousands of home owners to use this simple, yet powerful, way to speed up the principal payment process. Why is this so popular? How does it work? How can I do this?Here is why this is so popular to hundreds of thousands homeowners.
Is an ARM Right For You?
Let's start by taking a look at 7 key elements of an adjustable rate mortgage:1) ARM defined: While a fixed rate loan is constant and never changes throughout the life of the loan, an adjustable rate mortgage changes periodically. The interest rate of an ARM goes up and down based on whatever external index it is tied to.
Buying a Home With Poor Credit Is Easier Than Ever
Buying a home with poor credit is easier than ever with online mortgage brokers. You can easily find sub prime lenders, compare rates and terms, and complete the process on your schedule, not the banks.
The Real Truth About Those: Online Get a Better Loan Web Sites - 6 Things to Look For
You have seen the Commercials on TV go this or that web Site and Refinance your Home and Save thousands. Tempting isn't it? Do they really save you money?But what if you need help or Advice? What if you have questions? Can an online Internet Robot Design a Mortgage Plan customized for your unique situation.
How to Save Money by Using an Independent Commercial Mortgage Broker
Being a creature of habit can cost you plenty when it comes to applying for a commercial mortgage instead of going through an independent commercial mortgage broker. Let me tell you why.
Mortgage Sales Hit Problems
The housing market has been buoyant over the past few years, but mortgage providers and first-time buyers are both now facing a tough time. Following announcements from the Bank of England that there has been an overall decline in the total number of UK home-buyers, and a declaration from the Financial Ombudsman Service (FOS) that the number of disputes concerning mis-sold mortgage endowments has now hit record levels, it seems that mortgage lenders are facing a bleak time.
Refinancing Your Home Mortgage - Get Up To 125% Cash From Your Homes Value
With the low interest rates being offered by lenders today, now can be the perfect time to refinance your existing mortgage. Remember that you do not have to refinance your home through the same lender that provided your initial mortgage.
Types of Mortgages
Here is a useful guide to the different types of mortgages that are available.A mortgage is a loan you take out to buy property.
Reverse Mortgages - A Tax Free Income For Senior Citizens
I fully realize if it sounds too good to be true, it probably is and There Ain't No Such Thing As A Free Lunch (TANSTAAFL) immediately jumped into your head when you read the title of this article. However, if you are 62 or over, you may have just found the goose that laid the golden egg.
Homeowner Loans - Whats Available?
It isn't difficult to get a homeowner loan if you own your own home, hundreds of UK lenders will lend up to 95% Loan to Value of your property and some as much as 125% Loan to Value if you find you have little or no equity at all.Homeowner loans are available to those that own or pay a mortgage on their house, bungalow, flat or cottage.
Home Equity Loan - Beware of the lingering lien!
A problem that often arises when people try to refinance their home is the discovery of a pre-existing lien from a previous loan that was not removed by the lending company. The cost of removing a lien and returning the title to the homeowner, a process known as reconveyance, is usually included in fees associated with a home equity loan.
Home Loan Applications Made Easy
You have finally found the home of your dreams. You have searched all over and are ready to purchase it.
|home | site map|
|© 2006 TIGER MEDIA|