Mortgage & Refinancing Information:
As interest rates have risen in the last six weeks from record lows, homeowners are once again face with finding viable options to reduce the amount of interest paid on their home loans. The rush to refinance provided borrowers with good to excellent
credit the opportunity to take advantage of low interest rates, that helped to reduce their monthly mortgage payments, which was the only benefit provided by the lowered rates.
If your down payment on a home is less than 20 percent of the appraised value or sale price, you must obtain private mortgage insurance, known as PMI, with your lender. This will enable you to obtain a mortgage with a lower down payment because your
lender is now protected against any default on the loan.
Your goal is not only to find the best rates and programs, by searching through a huge number of lenders products, and save yourself thousands of dollars on mortgage payments every year, but also, to save time and hassle by simplifying the loan process
and reducing the paperwork. Here are some things you can keep in mind when selecting a mortgage provider.
If you are considering a new home loan anytime soon, and you do not want to get an adjustable rate mortgage (remember, ARMs are very strong loans), you should consider a 2/1 buy-down. This is a great mortgage program for people who require a smaller payment
now, knowing that they will have more money in the following years.
I have a lot of friends and family who are currently buying houses. Many of them have had a problem with timing.
I continue to see the same For Sale signs in my neighborhood. The houses just aren't selling.
Homeowners facing foreclosure should be aware of unscrupulous lenders and scammers. Don't get me wrong, most lenders and agencies are reputable and legit.
When you need a mortgage -- either because you are buying, refinancing, taking out equity or getting into investment real estate, you need a good mortgage professional. Now, you may be tempted to go to your local savings and loan, as they may promise lower fees or zero costs.
Today, FHA will loan up to 97 percent of the purchase price of a home, meaning a borrower only needs 3 percent. The three percent down payment can come in the form of a gift, and closing costs can be financed into the loan, making this a true no money out of pocket purchase transaction.
Do you need cash? Here's a mortgage for you. If you are not in a good position to take an equity line of credit on your home, because you have not built enough equity or a poor credit situation is making bankers steer clear of you, altogether, there is another option -- the cash-out refinance.
We live in a society where people are losing their homes at an alarmingly high rate. There are several reasons for this, but one could certainly be avoided -- buying a house that creates a loan that is too large for you to handle.
What the average homeowner or home buyer fails to realize is that bankers, loan officers, mortgage brokers, or whatever your lenders call themselves, are salesmen. Certainly, if you purchased your home from a realtor and used her lender, you most
likely got a feeling of trust in that person, because the realtor referred him.
Some people in the real estate industry have a terrible reputation. Why, because they deserve it.
Do you know what it takes to qualify for mortgage and refinance loans? There are several factors involved with qualifying for a purchase, refinance or equity line of credit, and having an in-depth understanding of these could make the difference in you
being accepted or turned down by a bank loan officer. Here are some things loan underwriters use in seeing if you qualify for a loan: your credit rating; your income; the amount you wish to borrow vs.
Buying your first home will likely be the biggest and most important purchase you will ever make. It can be a very stressful and may even leave you sleepless for nights on end wondering whether you are making the right decision - especially where
choosing the right home loan is concerned.
More Articles from Mortgage & Refinancing Information:
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MORTGAGE-REFINANCING NEWS updated
Tue. September / 17 / 2019
Is it time to refinance your mortgage? KOMO News
Maybe you've noticed: The cost of borrowing money to buy a home is way down. Current rates on a 30-year fixed mortgage are well below 4%, down from above ...
Is now the time to refinance? Las Cruces Sun-News
Since there is no “one size fits all” reason why one may desire to refinance, the first order of business is to identify the purpose of the refi.
FHA sets limits on cash-out refinancing Washington Post
TOWN SQUARE | Beginning Sept. 1, FHA borrowers will now be limited to cash-out refinancing a maximum of 80 percent of their home value, down from 85 ...
loanDepot Opens Two New Hawaii Locations National Mortgage Professional Magazine
loanDepot has announced the opening of two retail locations on Oahu and Maui, which will be led by established Hawaii mortgage industry veterans, Jason ...
Is It a Good Idea to Refinance a Home? Demotix.com
There are a few key reasons why someone would refinance a home loan, including:Attempting to get a lower interest rate. The first and most noteworthy motiva.
Refinance rates ease for Friday Bankrate.com
Several benchmark refinance rates slid lower today. If you're shopping for a home loan, see how your payments might be affected.
Free online ebooks tips news reports do
it yourself how to articles
Ohio Real-Estate Contractors
Mortgaging - Refinancing
related ebooks tips do it yourself how to articles:
Florida Refinance - Refinancing in Florida
The decision to buy a home in Florida can be one of the best you will ever make. If you own a home in Florida you may be considering refinancing.
Tips for First Time Home Buyers
When looking at tips for first time home buyers, you've come to the right place. Many people are looking all over the Internet for reliable information.
Things that You Need to Know before Financing Your Home
Frequently Asked Questions: What are Points? A. There are several types of mortgage related costs called "points" and their definitions and purposes vary.
This Secret Weapon Will Enable You To Close Up To 200% more Home Remodel Sales
Many Homeowners are not aware of all the options that are available to them when it comes to Home Loans. As a Home
Remodeling Specialist you have a very powerful sales tool that most of your competitors don't even know exists.
No Fee Mortgages Coming Soon
Buying a home, especially for the first time, can be a daunting experience. There are endless credit checks, bank
checks, employment checks, appraisals and more paperwork than seems to make sense.
Should You Refinance Your Mortgage if Interest Rates Drop?
Mortgage refinancing is when you take a mortgage of a certain interest rate and term length, and change it for a
different interest rate and term. If you are looking to refinance your home loan it is usually done when rates have
dropped considerably therefore making it advantageous to do so.
Home Equity Loan Information - How to Use One Wisely
Using a home equity loan to get out of debt or make improvements to your home is usually a smart move. You have
earned the equity, so it only makes sense that you put it to good use.
Getting The Best Home Equity Loan
Owing to the popularity of home equity loans, there are numerous lending agencies offering a variety of mortgage
products. A bad choice of mortgage can lead to disastrous effects, as there is a risk involved of foreclosure and losing one's home.
Imagine Cutting Over $8,000 Off Your Mortgage This Year
I once helped a customer cut over $700 off his monthly mortgage payment. That's right, over $8,000 each year and over $40,000 in just five years.
Ten Things a Mortgage Processor Must Know to be Effective
From time to time, we hear a story about a processor gone bad. A processor that seemed so knowledgeable early on but
now isn't keeping pace and can't seem to get along with anyone.
How To Save Money On Your Mortgage
Obtaining a home loan is arguably the most expensive transaction you'll experience in your lifetime. Therefore,
getting the best home at the greatest value is an endeavor worth pursuing.
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.
First-time House Buyers: to Buy or Not to Buy; that is the Question
Buying your first house is always a difficult time. There are so many important decisions to make, and problems to be
solved, which combine to make it one of the most stressful events that will occur in most people's lives.
How to Secure the Best Mortgage Deal and Save Yourself Thousands in Interest
When you consider that the average home owner will pay out far more in interest over the lifetime of their mortgage
than their home actually cost in the first place, you can see why working to secure yourself the best possible
mortgage deal now could save you tens of thousands of dollars in interest over the 25 - 30 year lifetime of your
home loan. For the majority of us our house is the single most important and expensive purchase we ever make! Because
this is the case we invest a lot of time and effort into finding the perfect property in the most ideal location,
however few of us invest the time and effort we should into researching and securing the best possible finance method for purchasing our home.
Hard Money Loans - Reasons Why You Might Want To Try Applying With A Subprime Mortgage Lender
Before you apply for a hard money loan, try applying with a subprime mortgage lender first for lower rates and fees.
Hard money lenders charge excessive fees to high-risk borrowers, but will only lend 50% to 75% of the value of the property.
Subprime Mortgage Loans Online - What To Expect
Applying for a subprime mortgage loan online can seem intimidating at first. With so many lenders to choose from, it can appear difficult to find the best mortgage loan.
A Guide to Direct Homeowner Loans
Are you considering applying for direct homeowner loans? Perhaps you're simply wanting more information on direct
homeowner loans so that you'll be able to make an informed decision? Direct homeowner loans can be very useful for a
wide variety of purposes ranging from purchasing new vehicles to consolidating old debts, but as with all loans
should be researched and carefully considered before any final decisions are made. How direct homeowner loans
work. Direct homeowner loans are based upon the equity that you have in your home? equity, of course, being the
percentage of your home's value that is free from any mortgage or loan.
Home Equity Loans
Home equity loans are a popular way for homeowners to borrow money using the equity in their home as collateral.
With this type of loan you can use the equity in your home to finance a multitude of things, from home improvements to large purchases and more.
Consolidate Your Debt With a Home Equity Loan and Improve Your Credit Score
A home equity loan is a loan based on the difference between what your current home value is and what you
currently owe on your house. There are also mortgage companies that will loan a little over the equity you have in your home.
Stop Foreclosure - 7 Tips to Save Your Home
Faced with the threat of a foreclosure on their home, with all the weight of the mortgage industry and its army of
attorneys against them, the average homeowner might feel like David facing Goliath. But David defeated Goliath! David had a sling and some pebbles.
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