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Mortgage & Finance

A mortgage, or a home loan, can come in many different forms. A 30-year fixed rate, a 15-year fixed rate, an adjustable rate mortgage, a jumbo loan. And what about prepayment or foreclosure? The articles, blog posts, videos and radio shows on this page will answer all your mortgage questions and help you find the right mortgage for you.

You need to consider the fees and closing costs that you may be charged in obtaining a mortgage, the length of the loan and the amount of the loan. In addition, while the interest rate you obtain is quite important, you need to understand all of the other issues involved in obtaining a mortgage loan for your home or investment property.

Take a look at our hundreds of articles on our site. Some of these articles are listed below. These articles relate to obtaining a mortgage, finding a low interest mortgage loan, the difference between a fixed rate or ARM loan, whether to pay points to buy down your interest rate, and avoiding prepayment penal

Bank Underwriting Commitment Needed For New Home

By | February 28th, 2001|

A home buyer is having trouble securing financing for a mortgage and hopes a bank underwriting commitment may help. His home purchase contract has a no-financing contingency. There are several options for getting a loan but also warns against signing a purchase offer without a financing contingency.

Finding A Loan For Land Purchase

By | February 28th, 2001|

Buying land to build a home on requires a different kind of financing. A mortgage broker who deals in construction property is one way to look into financing. Another option is to find a lender in the area who is familiar with financing land purchases.

Purchasing An Additional Lot And Refinancing

By | February 28th, 2001|

A family would like to purchase an additional lot that borders their property but isn't sure how to go about financing it. One possibility for financing is to take out a home equity loan on their current residence and use it as a down payment on the lot. Talking to mortgage lenders in the area will help ensure they get the best financing.

Refinancing Depends On Whether You’re Paying Interest

By | February 28th, 2001|

Does it make sense to refinance your mortgage loan after you've paid off much of your mortgage loan? Toward the end of a mortgage loan you're paying mostly mortgage loan principal so the interest rate on the loan won't affect your payments. Refinancing a mortgage where you're not paying much if any interest is likely not worth it.

Research Financing Options When Buying A Home

By | February 28th, 2001|

Is borrowing from your 401(k) plan a good option for making a down payment on a home? It depends on the rules of your 401(k) plan. Start by talking with the plan administrator but also consider a 100 percent financing deal may be a better option.

Pay Off Mortgage With Home Equity Loan

By | February 28th, 2001|

A couple wonders if they should have paid off their mortgage with a home equity loan. They now no longer have a tax deduction. Paying off the mortgage with a home equity loan means they have a lower interest rate, which they can use to build their retirement savings. However, with retirement approaching, they need to evaluate how to pay off the home equity loan and keep saving for retirement. A fee-only financial planner can help evaluate their options.

Common Questions About The Right Time To Refinance

By | December 25th, 2000|

Interest rates are a tough call, and so is the best time to refinance. There are a few things you can look at to determine if it's the right time to refinance your home. Here are some answers to common questions about refinancing.

Is Reverse Mortgage Right For You?

By | May 29th, 2000|

Is a reverse mortgage right for you? Ilyce says if you're a home owner over age 62, you can cash in on a reverse mortgage which is a lot like a home equity loan. The amount of cash you receive depends on your age, where you live and your home's value. She offers tips on where to find information on reverse mortgages.

Mind Your School District Before You Select A Home

By | March 16th, 2000|

If you have children, scouting out potential schools seems a natural way to choose a new neighborhood. You'll want to be close to the schools that will provide them with the most opportunities. But even if you don't have children, the quality of the local grade, grammar or high school plays a significant role in your future home's appreciation.

Home Equity Loan Can Pay Off Other Debt

By | September 6th, 1999|

You may be considering taking out a home equity loan to pay off other debt. A benefit to having a home equity loan is that you can deduct the interest on your taxes. The downside to taking out a home equity loan is if you don't keep up with payments the lender can repossess your home.

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