An articles I recently read (that can be found here) makes some good points...There are a few things I want to point out and add. -Have a conversation with your Loan Officer before you start your application process. He or she should be able to tell you what their bank's … [Read more...]
Mortgage Rates
Mortgage rates strongly affect the process of purchasing a house since they directly dictate how much your monthly payments will be. In order to fully understand where these rates come from and what makes them go up and down, you really need a finance or economics degree. … [Read more...]
How to Reduce Your Mortgage
One Additional Mortgage Payment a Year There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal. This is the … [Read more...]
Bi-Weekly Mortgages
If you search for "bi-weekly mortgages" with an Internet search engine, you will be overwhelmed by the number of companies offering "Bi-weekly Mortgage Reduction Services" or "Bi-weekly Savings Programs." Beware, you are entering dangerous … [Read more...]
Types of Mortgage Loans
Before approaching a bank, it is important to be familiar with the types of mortgage loans that exist. Since mortgages come in all shapes and sizes, familiarizing yourself with every option may seem like an impossible task; to ease this process refer to the list below in … [Read more...]
FAQ’s on Reverse Mortgages
One of several significant financial instruments available for seniors today is a Reverse Mortgage. No matter what you may have heard, Reverse Mortgage can be used for either purchase or refinance of a property. What is a Reverse Mortgage? A Reverse Mortgage … [Read more...]
203K Loan
In a different article we described a common scenario: when an FHA appraiser finds potential safety hazards and, for the bank to approve the loan, the seller must carry out the repairs necessary to address the problems. If the seller refuses the only option for the buyer - … [Read more...]
FHA Loans
During the boom of sub-prime lending, when anyone and their mother qualified for a mortgage, FHA lending was almost non-existent. Conversely, during the past several years anyone who does not have a 20% down payment or who has sub-par credit turns to FHA as the only … [Read more...]
Cooperative Mortgages
Due to the nature of this subject, we will use a little more technical jargon than we have in most other articles. We will try to keep it clear. If you have never come across a coop property before you probably live in an area of the country where these types of properties … [Read more...]