A mortgage loan, 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 loan questions and help you find the right mortgage loan for you.
What Kind Of Loans Should You Get When Interest Rates Are Rising (Part II of II)
Two things come into play when deciding between a fixed rate mortgage or an adjustable rate mortgage -- how long you plan to stay in your home and how concerned you are about rising interest rates. The good news is that you have plenty of loan choices today when it comes to financing your home. While you can get a 30-year fixed-rate loan, or a 1-year ARM, there are plenty of hybrid loans that combine the best features of each.
Calculating The Costs Of Homeownership
The First Family becomes first-time home buyers as they purchase a home to move into when President Clinton leaves office. While their home purchase might be on a larger scale than other first-time home buyers, they still have to go through the same process. Like any other home buyers, the First Family had to find a neighborhood that worked for them, and a house that met their wants, needs, and budget.
Financing Options Include ARM Mortgage Loan
Choosing the right type of financing depends on factors such as interest rates and how long you intend to stay in your home. If you're financing or refinancing and interest rates are high, it may make sense to get an adjustable rate mortgage (ARM). Learn also about financing with a fixed rate loan.
Mortgage Loan Decisions Include Points
When you're applying for a mortgage loan or refinancing a mortgage loan you'll face many decisions. Mortgage loan decisions include what type of loan you want: an adjustable rate mortgage or a fixed rate mortgage. In addition you can choose whether to lock your loan rate right away or to float the rate. When you apply for a mortgage you can also think about paying points to reduce the interest rate on the loan.
World Of B-C Mortgage Lenders
Who is a B or a C borrower? They're primarily good people who have a bad credit problem, according to a lender. You might be a B-C borrower if you've had a bankruptcy any time within the past 7 to 10 years, or if you've had medical bill problems, or other situations where your credit score is so low you can't get a mortgage through the regular channel, if you own too many pieces of investment property, need a "no-document" loan because you don't wish to disclose all of your income, you've been self-employed for too short a period of time, or you're purchasing a unique piece of property that doesn't fit into the secondary lending market's A-borrower mold.
Avoiding Junk Fees Could Pay Off At Closing Time
Mortgages can include a long list of fees you'll have to play at closing. Some of these are legitimate fees and they will appear in every mortgage loan. Others are "junk" or they come from the mortgage company attempting to pass costs on to you, the borrower. Knowing what fees you should be paying will save you money at closing time. Ilyce runs down the fees typically included in a mortgage and what they should cost.
Homeowners: Best Time To Refinance Mortgage
There are several indicators that help homeowners decide that it's the best time to refinance their mortgage. When interest rates drop low is one of the best times for homeowners to refinance their mortgage. Just because homeowners have bad credit doesn't mean they can't refinance their mortgage but they might have limited options.
Dangers Of Co-Signing A Loan
While low interest rates certainly help more people to qualify for a home loan, interest rates won't always be low. By "co-signing" a loan, you are sharing someone else's buying power. This strategy can be used to buy a home, rent an apartment, buy a car, or get a credit card. However, what most folks don't realize is that co-signing a loan makes them entirely responsible for paying off the debt, should the landlord, credit card company, or mortgage lender not be paid.
Good Credit Score Helps You Get Better Mortgage Loan
Having a good credit score is crucial to getting a good interest rate on a car loan, a home mortgage loan or other loan. Whenever you apply for a loan, the creditor will check your credit report. Having too many creditors check your credit report or score within a month may result in your credit score dropping. When you're shopping for mortgage loan financing credit bureaus will give you 30 days to have unlimited checks of your credit.