There are many people who are considering refinancing their home mortgage during this rough economic time. The goal for refinancing ones mortgage loan is being able to find the lowest rate possible. People looking to refinance commonly make the mistake of not preparing themselves prior to applying for refinancing loan. To ensure you get the best rate when you refinance there Continue reading
The home loan rate applied to your home mortgage is the cost of the money that you have borrowed. The money itself is called the principal, while the price you pay to borrow the money is considered the interest. In addition, you can expect to pay at least a few of the closing costs on your home loan. Usually, it is the seller who pays closing costs, but that is traditional, Continue reading
Do lenders issue a mortgage refinance to people with no job?
Many people have already lost their jobs because of the recession. Some companies are reducing their workforce and some are reducing the wages. Is a refinance possible for the unemployed people? I would say ‘No’ because the lenders are not ready to take risks. Most of the major lenders were giving the mortgage refinance earlier Continue reading
The tenet of being mortgage-free is a particularly tasty one to many of us. The thing is, to realize it, you’re going to require some major motivation to compel you to aim towards this worthwhile goal. It’s the same as losing weight – if you don’t have the motivation to do it you may never achieve your goal. If you don’t have the motivation, the correct reasons for you, you will never even try to even Continue reading
No deposit mortgages can help people who are unable to come up with lavish down payments on a standard mortgage and use the no deposit mortgage to buy a new home. With these types of mortgages no cash down payment is required from the borrower and the loan will cover 100% of the value of the home. The first time home buyer who cannot manage to save up for a cash down payment Continue reading
The truth in lending act goes back to 1968 and serves as protection for consumers requiring clear and full disclosure of the terms in relation to all credit transactions, especially on all involved costs. Loan officers and mortgage brokers who remain on top of regulations will be able to plan these changes, but it is necessary that you know them as well, specifically if you want to make Continue reading
Refinance opportunities for people with challenging credit come in two main areas:
mortgage lenders hard money lenders New Loan Options One of the most critical factors helping someone with bad credit is equity in the property.
If there is enough equity in a property then lenders will look much more favorably on a borrower with bad credit. For example. if the property Continue reading
Are you looking to find the best mortgage rates? There is nothing like being able to compare mortgage rates, and find the best possible. The results can be amazing, and saving thousands, if not tens of thousands, is fully possible. In this latest article, you will discover the information that can make all the difference and save you money!
There are many benefits to comparing Continue reading
Let’s discuss something that has been in question more and more by seniors I am visiting…the notion that the FHA Reverse Mortage is a fraudulent product designed to steal homes.
While we all know that the protections in place do prevent a large amount of fraudulent activity, examination of what is ‘possible’ is something that I believe all loan originators should Continue reading
With mortgage rates being lower than they have been in decades, now is a great time to consider refinancing. It is a fast and easy way to save yourself money every month, starting right away and lasting for the life of your mortgage. It also gives you the opportunity to consolidate debt and take out equity on your home. Even if you have a lower rate with a government insured loan, you can still Continue reading