Mortgage Loans - Tips for Real Estate Investors and Buyers   

       When you apply for a mortgage loan, you will have to go through a process which will determine whether or not you will actually receive the loan. This process starts with you meeting the mortgage lender, who will assess your financial situation and decide whether or not you qualify for the loan. More...

 

 

How Many Times Can You Refinance A Mortgage ?

How Many Times Can You Refinance A Mortgage           Usually when people have financial problems, they want to refinance their mortgage. The reason for this is that refinancing a mortgage helps the borrower to save money, especially when the current mortgage was taken at a high interest rate. However, if you end up refinance too often, you could actually end up losing more money than saving each time you refinance the mortgage.So, How Many Times Can You Refinance A Mortgage ?? There is no rule to state that you can refinance a mortgage once or twice.More...

 

How Are Adjustable Rate Mortgages Calculated ?

How Are Adjustable Rate Mortgages Calculated           For choosing the best mortgage, one needs to understand the calculation process of an adjustable rate mortgage (ARM) done by the lender. Basically, it involves the use of an index and a margin to calculate what will be the interest that will have to be paid by the person who takes the mortgage.The index, which is used by the lenders to estimate the rate of interest that has to be paid monthly on the mortgage, are of different types such as London Interbank Offered Rate (LIBOR), Constant Maturity Treasury Securities (CMT), Cost of Funds Index (COFI) and others.More...

 

Where Can I Find An Afordable Fixed Rate Mortgage ?

Where Can I Find An Afordable Fixed Rate Mortgage           Many home buyers are actually buying their dream home later in life. That is why it is important for them to ensure that they repay the loan as soon as possible. The only way they can do this is if they have an affordable fixed rate mortgage as they will not be pressurized into making monthly payments they cannot afford or keep up with..Invariably the most common fixed rate mortgage is the 30-year mortgage or the 15-year mortgage. However, before pouncing at the first available offer, it is best to check everything properly to ensure that you are really getting an affordable fixed rate mortgage.More...

 

Repayment Mortgage Plan

Repayment Mortgage Plan               You need have a repayment mortgage plan in case you have defaulted on the mortgage. With this plan in place, you can start repaying a part of the defaulted amount each month when you make your monthly payments.Usually lenders are quite understanding if you inform them that you are having a temporary financial problem. They will work with you to help resolve the matter as most lenders do not want to go for a foreclosure. Therefore, if you have defaulted, instead of avoiding the lender's call or email, it is best to talk to them and explain your situation.More...

 

Are All Reverse Mortgages The Same ?

Are All Reverse Mortgages The Same            Reverse mortgages are made for senior citizens as a way of providing them with steady source of income. Usually this type of mortgage is available only if the senior has equity in his or her home, which cashed until the senior decides to sell the home or move away. The senior has to be 62 years and older to be eligible for reverse mortgage.Reverse mortgage is a unique concept, and is quite different from the traditional mortgage. In reverse mortgage, the lender gives the senior a fixed amount each month. The amount will be paid as long as the person lives in the house.More...

 

What Is Variable Rate Mortgages ?

What Is Variable Rate Mortgages             Variable rate mortgage is also called as adjustable or floating rate mortgage. It is a loan whose interest rate will change, and if the interest rate changes, the monthly payment will also change to reflect new interest rate.As the home cost is increasing, more and more people are opting for variable rate mortgages. When compared to the fixed rate mortgages, the starting interest rates for this type of mortgage are low. As payments are affordable, the qualification for variable rate loan is easier when compare to fixed rate loan.More...

 

 

    
 

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