Mortgage Articles

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Loan and Interest Rates

Whether you are purchasing a new home, or refinancing and existing mortgage, do your homework to ensure you are getting the best mortgage program and best home loan for you. So, how do you accomplish this? More

Mortgage and Payment Options

If you are considering refinancing your home or purchasing a new one you need to look at your short and long term goals to determine which mortgage and payment options will best fit your needs. Why is this important? More

Second Mortgage

If you need some cash and are considering accessing some of your home’s equity, instead of refinancing your first mortgage, consider a second mortgage instead; a second mortgage just might be your better deal. More

The Wisdom of Mortgage Refinancing

A mortgage refinance is when you renegotiate the terms of your home mortgage. Home loan or mortgage refinance is done to alter your payment schedule, raise or lower payment amounts, change between fixed or floating interest rates, and to achieve a better rate of interest.  More

Low Refinance Rates Save You Money on Your Mortgage

When considering making changes to any of your financial services that should be the first person you contact. However, there is a lot to know before you are even ready to make the decision to discuss refinance rates with your banking professional. More

Mortgage Payment Types and Terms

When you take out a loan to purchase a home, one of the major decisions you will face is how long you wish to take to pay it off. The length of time the loan is financed over is referred to as the mortgage payment term.  More

Understanding Home Equity and Debt Consolidation

For the great majority of people, the single largest investment they will make is the purchase of their home. Similarly since almost no one is able to afford the outright purchase of a home, their home loan or mortgage is also the largest debt undertaking they will make as well.  More

Mortgage Basics

You may have the desire of getting a home of your own, but lack of finance may prevent you from fulfilling your dream. This is where a mortgage can help you. It provides a financing option that can make your dream come true. More

Discount Points Can Lower Your Interest Rate

Discount Point, also known as point, is a kind of fee which a lender charges at the time of closing, when the relevant documents in a mortgage deal are signed. These points include prepaid interest which if paid by a borrower can offer him a loan with lower interest rate for the entire loan term.  More

Do You Need an Appraisal for Your Mortgage?

An appraisal involves the evaluation of the market value of real property including mobile home. It gives an estimate of the price that can be obtained by selling the property in a competitive real estate market.  More

Mortgage From a Bank or Credit Union?

Mortgage loan programs available with the bank, lender or the credit union may differ in various aspects. In order to get the best of their services, you need to know how these organizations differ and how you can benefit from each of their services.  More

Credit Score and Its Importance

The very first thing that your loan officer checks when you apply for a mortgage or any kind of credit is your credit score. You are rated in terms of the score which in most cases influences the amount you borrow.  More

Basics and Importance of Down Payment

A down payment is the amount of cash deposited towards the purchase of a property, whether residential or business property. The down payment is not included in the loan amount.  More

What Closing Expenses Should You Expect?

Closing Costs are the expenses of the borrower at the time of closing of the mortgage loan. These costs comprise of the following charges: More

Second Mortgage - Features and Benefits

Second Mortgage is a home loan taken against home equity that is kept as collateral for the loan. It carries rights subordinate to those of the first mortgage.  More

Common Mistakes When Looking for a Second Mortgage

Getting a second mortgage or a home equity loan involves similar costs as in case of the first mortgage. So you should look out for a loan program offering suitable rates and terms so that you can pay for both the mortgages simultaneously.  More

Common Mistakes When Refinancing Your Mortgage

The process of getting a refinance loan is similar to getting a mortgage loan for the first time. Refinancing involves a lot of money towards the payment of closing costs.  More