There are several types of 0 down mortgage loans available on the market right now, for potential homebuyers who can’t afford too much down payment – or even any of it at all. Their increased availability nowadays can be attributed to the fact that the US economy is still … [Read more...]
Archives for April 2015
Reverse Mortgage Solutions
Now that you know the basics on how a typical mortgage works, you may be wondering what on God’s great Earth a reverse mortgage is. According to lenders on this market segment, reverse mortgages are financial instruments that seek to provide additional welfare to retirees. … [Read more...]
How Much Are Closing Costs on My Mortgage?
To answer your question upfront, typically closing costs will amount to anything from 2 to 5 per cent of the total purchase price of a home. Now, the same way you can get a rough idea on the total amount of loan you can afford, via an online mortgage estimator, you can also … [Read more...]
How ‘Estimate My Mortgage’ Calculators Work
There are plenty of ‘estimate my mortgage payment’ calculators online, but some of them don’t take into account all the expenses a mortgage and a new home entail. Others only give you the monthly payments, without explaining how much goes toward the principal and how much is … [Read more...]
How to Get Pre Approved for Mortgage Loans?
Before a proper discussion on how to get preapproved for home loan, it’s important to define mortgage loan terms and conditions. In very simple terms, a mortgage is the type of loan that real estate buyers will use as a form of financing for their property purchase. For … [Read more...]
What Is a Good Credit Score?
We’re not going to get into why a good credit score matters. After all, those three little numbers that make up your score is what mainly influences your ability to get a loan on good terms, for the amount you need and with low rates. That being said, it’s not often easy to … [Read more...]