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Mortgage & Refinancing Information:
Please feel free to use our online mortgage calculator.
A few notes of importance: This only applies to a homestead
property, that is the customers primary residence LTV refers to Loan to Value, meaning the loan amount as compared to the value
of the home. As an example, a loan of $75,000 on a home valued at $100,000 would be a loan at 75% LTV.
Whether you're looking to buy your first home, or trading up to a
larger one, there are many costs - on top of the purchase price - that you must figure into your calculation of affordability.
These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you're not informed and prepared.
Before you consider taking out an interest-only mortgage, you should first understand what they are. Unlike traditional,
fixed-rate mortgages, interest-only mortgages allows the borrower to initially pay the interest on the principal for a short period
of time, rather than making payments on both the principal and the interest.
You've finally found that dream home that you have always been
searching for, but you are afraid to apply for a mortgage because you have bad credit or less than perfect credit. Before you give
up entirely, there are many mortgage programs that are geared towards people just like you.
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MORE RESOURCES updated Fri. September / 29 / 2023
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Mortgaging - Refinancing
related ebooks tips do it yourself how to articles:
Save Money on Your Mortgage
You should say goodbye to PMI. You may not notice it in the
crush of your monthly mortgage statement, but many
Americans pay for a line item called PMI.
What Are Mortgage Brokers And Why To Use One
"Mortgage" is formed from two words: the French word "mort"
meaning "dead" and the word "gage" from Old English meaning
"pledge". Sir Edward Coke (who lived from 1552 to 1634)
explained the term: the land as considered "dead" to the
mortgagor, as if the person never had it.
Thinking About Re-mortgaging? Read These Tips First
More and more of use are signing up for limited time low
interest rate mortgages and then switching to a different
mortgage when the low interest period expires. It's a great
way to save money and can, potentially, save you thousands
in repayments.
Buying a Home With Bad Credit - Why a Recent Bankruptcy Will Not Stop You From Getting Approved
Buying a home with bad credit is possible with the help of
a subprime lender even if you have a recent bankruptcy or
foreclosure. These mortgage lenders specialize in financing
home loans for people with poor credit.
Finding the Best Homeowner Loans for Your Money
Looking for the best homeowner loans can be stressful,
especially when there are so many different lender options
to choose from. Banks, finance companies, and online
services all claim to offer the best homeowner loans? which
one should you choose? The answer can depend upon what
you're wanting out of a loan, what past business
relationship you have with the lender in question, and the
amount of equity that you have in your house to use as
collateral for the loan.
Mortgage Prepayment Penalties - Just Say No
One of the most common terms found in a new home loan is a
prepayment penalty. This type of penalty says that if the
borrower pays off the loan early, commonly during the first
five years of the loan, then the borrower will be
responsible for paying an additional amount of money,
typically about six months interest on 80% of the mortgage
balance.
Mortgages - Which Loan is Right For You
When buying a home, you need to take a home mortgage loan,
either because as a debtor, you end up paying less tax, or
because in a market where property prices rise faster than
salary levels, the money you have saved falls short of the
amount required. When searching for a home mortgage loan,
you can select from a wide variety.
Secured Lending - a Guide to Releasing the Value in Your Home
The recent boom in house price values have made some
homeowners more wealth than they could have possibly earned
though working in their jobs, however what use is all that
wealth if you can't get your hands on it until you've sold
your house? The quickest and easiest way to unlock the
increased value in your home is often a secured loan that
will allow you to receive a lump sum upfront without having
to move or remortgage your house. Why take a secured
loan? Perhaps it's time to take that amazing touring
holiday, perhaps it time to replace the kitchen or even
build an extension to your home, with unsecured lending
normally restricted to amounts less than £25,000 if
you need borrow more money then the best option will be a
secured loan.
Home Loans and Mortgages - Watch Out for Dangerous Subprime Loans
With the growing interest in real estate purchasing and
speculation, more and more lenders are offering
"nontraditional" types of mortgages. These include
adjustable rate mortgages (ARM) of every shape and size,
the more popular interest-only mortgage, and the very
dangerous Option ARM mortgage, which can cause the amount
you owe to actually increase as time passes.
Choosing a Real Estate Agent
Before you go looking at houses, you'll need to find a real
estate agent. Hiring a real estate agent takes a little bit
of time to do.
Financing the Purchase of Foreclosed Homes
Homes that have been foreclosed can be one of the most
economical ways to get into a nice home without having to
pay exorbitant costs. It's also a great way to get in on
the real estate investment game as a beginner.
Who Else is Ready to have Their Money Work Harder for Them?
What does it mean to refinance? Why would anyone want to
consider it? There are numerous situations when someone
would refinance. When we use the word refinance, we are
basically referring to a loan: for example a car or house
loan.
The Best Way To Get The Right Mortgage
Are you thinking of buying a home? If so, then there are
many things that you need to research first. For example,
do you know what a mortgage is and do you know all the
details of getting a mortgage? The more you know before you
get into it, the easier the whole process will be for you.
Fees Paid To Brokers By Mortgage Lenders Are Far Too High
Procurator fees paid by some sub-prime lenders are too high. Fact.
Using a Home Mortgage Calculator
There are a variety of tools online that you can use to
determine how much you can afford to pay for a home, how
much the monthly payment will be based on the sale price of
a home, and calculators to tell you whether it is better to
rent or buy based on your personal situation. Using a home
mortgage calculator online doesn't cost any money, and can
be an extremely useful tool in your preparation and
research for buying a home.
Total Cost Of Credit vs Monthly Payments
I read a press release the other day which points
to the fact we need to be very careful with our finances.
The subject of the release was home mortgages.
First Time Buyers Fail To Shop Around
Almost two thirds of first time buyers accept the first
mortgage they are offered and fail to shop around, often
missing out on better deals. Many first time buyers feel
pressurized by their estate agents into quickly organizing
a mortgage for fear of losing out on a property or are
attracted to a low interest rate without looking at the
mortgage deal as a whole.
Remortgage Serves To Rewind The Reimbursements Of Mortgage
It takes a mighty big effort to secure a home and even
mightier to convert it into an earning member. Can a home
be converted into an earning member? In contemporary
configuration anything is possible! You must be aware of
the advantages of mortgage, for you certainly have opted
for that before going for a remortgage.
Stated Income Mortgage Loan - Get Approved Online
A stated income or no doc mortgage loan allows individuals
with difficult to document income to buy a home. With a
documented credit score and reasonably stated income, you
can qualify for a mortgage at a slightly higher rate.
No Deposit Home Loans
A few years ago, many of us would have had a light chuckle to ourselves if someone mentioned that you could borrow money to buy a house with only the promise of solid future earnings. But today this is a regular occurrence.
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