Mortgage & Refinancing Information
"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.
What is a Fixed-To-Adjustable Rate Mortgage? This type of mortgage
offers fixed payments for an initial loan period of up to10 years
then followed by an adjustable interest rate for the remaining
term of your mortgage. Payments are usually lower than most fixed
There are several reasons why you might be in the market for a
bad credit remortgage. You might be wanting to try to lock in a
lower interest rate, or perhaps you simply need to use the bad
credit remortgage as a way to consolidate some of your debts.
Finding the right buy to let mortgage is crucial to your success
as a property investor. Unlike other forms of property
investment, a lot of the capital you invest into a buy to let
investment property is likely to be borrowed.
Financing and buying a home can help improve your financial
situations, especially if you have a bad credit history. Adding a
mortgage payment to your monthly expenses seems like a mistake if
you are having financial difficulties, but in the long run a
mortgage can save you money on your living expenses.
Purchasing a home involves certain important, even essential,
steps that every buyer should take before closing on a purchase.
Let's examine these "essentials" which, if properly implemented,
can help you save valuable time and aggravation.
"How much should you borrow?" is a question people with adverse
credit wrestle with. The answer is simply as much as you can
Home loans may seem like a bad idea for people with bad credit,
but there are times when a home loan can help your credit score
and your budget. To know if a home loan is best for you, consider
factors such as your current financial situation, current rent
payment, and future goals.
Interest rates on home mortgages are often quoted with and
without points. A point equals one percent of the amount you are
There has been so much fraud discovered in the FHA program
allowing gift funds for down payment that Lenders and borrowers
are required to absolutely document every step of the gift
transaction to prove it was legitimate. Here's how it works: FHA
allows the required down payment to be a gift from someone who
would logically be concerned about housing for the borrower.
Add the term 'online' and it will open for you an exhaustive
assortment of opportunities. Add online to mortgage and it will
have the same effect.
While trying to find the lowest rates, many homeowners fail to
examine the type of mortgage, and which type of mortgage is best
suited to their needs. Whether you are buying a new home or
refinancing, it is important to understand the different mortgage
types, and evaluate which one best meets your needs.
This is a great time to Refinance Your Home or Buy a New Home --
the Mortgage Rates are so low, these days! It's always worth a
shot to find out what the costs of switching over to a new
mortgage would be, to see if that's the right move for
you. Whether you are building your own house, buying a new
property, gathering funds to do a renovation project, or
Refinancing your current Mortgage at a much Lower Rate, you'll be
looking for Funding -- Money, Money & More Money! Here are
some commonly asked questions regarding funding for a Mortgage or
a Home Improvement Loan.
In days gone by, the family typically spent their evenings
watching television in the den or living room, crowded around a
black and white television set that may have measured no more
than nineteen inches in diagonal size. For decades, this scenario
was pretty much the same in most American homes, with the only
change being the replacement of black and white televisions with
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.
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CUNA News (press release)
'Flat' mortgage market aheadCUNA News (press release)This year is turning out like most people predicted in the mortgage arena. Rising interest rates have significantly hampered the mortgage refinance market. The growth of the purchase market can only be as great as the inventory of available homes.
How Credible worksCredible News (blog)It's quick and painless. Tell us a little bit about you and your home to get accurate prequalified rates without impacting your credit score. 2. Compare rates from multiple lenders. View the interest rate and cost breakdown of each loan to choose the ...and more »
RELATED MORTGAGE AND REFINANCING ARTICLES:
Home Equity Can Create a
Never-ending Money Cycle
What could you do with $10,000? Well, you can have it, now
in a new home equity loan! Did you know that if you have
been in your home for just one full year, you may already
have the opportunity to take out huge dollars in equity
from your home -- tens of thousands, even! Did you also
know that you can get this money with no closing costs, use
it any way you like, and, best of all, it will cost you as
little as the price of your cable bill each month, and you
can create an amazing money cycle that will give you an
endless supply of cash. Unlike conventional mortgages, home
equity loans are paid back with interest-only payments, and
have no taxes or insurance added, which make for extremely
Why Its Important to Get
Having a pre-approved mortgage will give you the confidence
of knowing exactly what you can spend on a home before you
start looking. You will also be protected against interest
rate increases while you look for your new home.
Guide to Interest Only
Here is a useful guide to interest only mortgages. An
interest only mortgage is one where your regular payments
only go to pay off the interest on the money you borrow.
Refinancing Your Loan?
Refinancing your home or property is a big decision that
could drastically affect your financial future, for the
good or the bad, depending on how smart you go about the
process. Take the time to explore all of the different
refinancing options you have available to you.
Understanding a UK
In many ways a commercial mortgage is just like a
residential mortgage in that you pledge real property as
collateral against a loan to either buy or refinance that
property. You can also receive a commercial re-mortgage and
use it as a line of credit for any business purpose.
Home Equity Loan
There's more Regulation Z compliance on the way, courtesy
of the Home Equity Loan Consumer Protection Act. This fall
banks will have to implement the new home equity loan
disclosure rules the Federal Reserve Board was required to
issue under the act.
5 Ways to Use Your Home
Equity Line of Credit
Your home is a source of pride and accomplishment. Did you
know that your home can also be an affordable source of
income? As your home appreciates and you make your monthly
mortgage payments you build what's called equity.
Home Loans - Repair
Credit Errors in Three Days!
Most consumers are aware that a history of paying bills
late or not at all can hurt one's ability to obtain a loan.
All financial transactions are recorded by three credit
bureaus and offered to lenders upon request in the form of
a credit report.
Jumbo Mortgage Loans -
Getting Approved for a Jumbo Mortgage Loan
Getting approved for a jumbo mortgage loan online is
similar to getting approved for a traditional mortgage when
you use a mortgage broker. However, you can expect to find
lower interest rates online with better terms.
Commercial mortgages are similar to residential mortgages.
Usually taken by businesses, commercial mortgages are
secured against business property.
An adjustable rate loan, most simply stated, means that
your interest rate can be adjusted up or down over the
months and years. By adjusting the interest rate your
monthly payments might also change.
Mortgage Glossary of
A brief list of some of the most common Mortgage
terms.Adverse Credit The term used if the borrower has a
poor credit history.
Home Equity Increases $1
Trillion in Five Years - Is the Market Peaking?
A new survey reveals that in the last five years, the
equity in the California real estate market has increased
by more than one trillion dollars. A trillion dollars is a
large number to ponder, but put in concrete terms, it can
be represented by a stack of one hundred dollar bills that
is six hundred thirty one miles high! This astronomical
increase in California home values isn't all that unique,
Top 10 Things to
Consider on Home Loans
Here are our Top 10 most important things to consider when
shopping for a Home Loan, Equity Line of Credit, or
Refinance, courtesy of
Loans-Directory.Org:Down-PaymentFixed Versus Adjustable
RateAPRLoan TypesLoan Amount Qualification, IncomeLoan
Amount Qualification, ExpensesEmployment and Credit
Are Biweekly Mortgages
You may have heard people, especially mortgage lenders,
extolling the virtues of biweekly payments, saying that you
can save thousands of dollars and take 5-7 years off your
mortgage--and then offering to set up a biweekly plan for
you for as little as $400. But you don't have to spend $400
to begin saving money and time on your mortgage.
Know Your Mortgage Fees,
and You'll Never Pay Too Much for Your Loan
If you buy new windows, you'll not only pay for the
windows, you will also pay an installation fee. When you
purchase a car, you pay tax, title, assumption fee, etc.
Home Equity Loan
In other words, the benefit of the loan must outlast the
loan period. Taking a loan for financing that elusive
vacation is a strict no-no.
A mortgage is borrowing money using property as a security,
a type of secured loan in other words. Primarily, the
purpose in borrowing the money is to purchase a property.
Mortgage Brokers or
Banks: Which is Right For You?
When you're looking for a home loan, you might work with an
officer at a bank or other lending institution, or you
might choose to work with a mortgage broker. The end result
is the same - a new house, but the two types of jobs
Loans Create Amazing Power and are Quite Easy to
The power of home equity and interest-only payments,
provided from most home equity loans is amazing. You can
get a home equity loan, with no closing costs and pay as
little as $30.
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