Mortgage & Refinancing Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Things that You Need to Know before Financing Your Home


Frequent Asking Questions:

What are Points? A. There are several types of mortgage related costs called "points" and their definitions and purposes vary. Generally, points are costs that must be paid to a lender in order to receive mortgage financing under specified terms. One point means 1% of the loan amount. 1% Disount point means, it will cost you 1% of the loan amount to buy the rate down by mostly .25% ( 1/4 of a rate ). 1 point origination fee means, it will cost you 1% of the loan amount by a lender or a broker to do the loan for you.

What does it mean to "lock" the interest rate? A. Due to interest rate movements, mortgage rates can change between the day you apply and the day you close. To protect against uncertainty, a lender can " lock-in " and gurantee you or 30, 60, 90, or 120 days. The longer the days are the higher the rate will be.

What is the lowest down payment I can use or a down payment on my home purchase? A. A 20% down payment used to be a standard, and most lenders today allow the buyer to put down as little as 5% down, or $5,000 on $100,000 loan. In fact, over 75% o the borrowers are now putting 0% down payment. If you put 20% down, then you will not pay PMI ( private mortgage insurance ) monthly to insure the loan for the lender. However, if you have a credit score below 620 and aquire a sub prime loan ( higher rate ), you will not pay PMI. PMI is only applied on prime loans ( prime rates ) with less than 20% down payment. The more down payment you put, the less will the monthly payment on the mortgage.

George Tesfa. Sr. Loan Officer
American Mortgage
http://www.Amerimort.com
http://www.CashMyEquity.com


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


CNBC

Mortgage refinance applications hit 18-year low - CNBC.com
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 ...
US mortgage applications drop last weekXinhua

all 37 news articles »


Askari Bank signs agreement with Pakistan Mortgage Refinance Company
Daily Times
Askari Bank and Pakistan Mortgage Refinance Company (PMRC) signed Master Refinance Agreement. Under this agreement PMRC will provide Askari bank with long-term funding at fixed rates to promote housing finance. The agreement was signed by Mr.



'Flat' mortgage market ahead
CUNA News (press release)
This year is turning out like most people predicted in the mortgage arena. Rising interest rates have significantly hampered the mortgage refinance market. The growth of the purchase market can only be as great as the inventory of available homes. In ...



The Mortgage Reports (blog)

Mortgage refinance checklist: what you need to refinance your home
The Mortgage Reports (blog)
Preparation is vital prior to applying for a mortgage refinance. You have to do the math and figure out if it makes financial sense. Plus, you need to learn the facts and shop around. Getting your paperwork in order is crucial, too. Tackling these and ...



National Mortgage News

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 Association. The MBA's Weekly Mortgage Applications Survey for the week ending Sept. 7 found ...

and more »


CNBC

Rocky stocks and rising rates hit mortgage applications, down 3.2%
CNBC
While tight supply of homes for sale had been plaguing buyers for much of this year, listings are increasing, but so are prices and interest rates, weakening ...
Mortgage applications can't stay afloatHousingWire
Mortgage applications drop as refi volume falls to an 18-year lowNational Mortgage News
Mortgage Applications Continue to Slide, Interest Rates Slightly Higher24/7 Wall St.
Scotsman Guide News
all 15 news articles »


ETF Trends

Mortgage Applications Dropped by Rising Rates and Stock Declines
ETF Trends
The Mortgage Bankers Association reported that mortgage applications fell last week–dropped by a one-two combination of rising interest rates and stock declines. Overall, mortgage application volume suffered, falling by 22% compared to a year ago and ...

and more »


How Credible works
Credible News (blog)
It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score. 2. Compare rates from multiple lenders. View the interest rate and cost breakdown of each loan to choose the ...

and more »


National Mortgage News

Mortgage refinance candidates cut by half in the past four months
National Mortgage News
The number of mortgage borrowers for whom it made sense to refinance declined by nearly half since the end of last year and is at its lowest since November 2008. Approximately 2.3 million mortgagors are candidates for a refinance, a decline of 2 ...



The Mortgage Reports (blog)

How should I apply for a mortgage refinance: in person, by phone or online?
The Mortgage Reports (blog)
If Artificial Intelligence (AI) becomes a bit more intelligent, there may be no reason not to apply for a mortgage refinance online. Truly intelligent AI will offer the speed and convenience of today's online applications with the personal service that ...

and more »

Google News

home | site map
© 2006 TIGER MEDIA