Generally, mortgage loans are taken out so as to make some real purchases. Mortgages are very complicated financial instruments. The entire mortgage industry is based upon a large number of mortgage rules and regulations. There are rules for mortgage lenders,…
What types of home equity loans are there? There are two types of home equity loans: • Fixed-Rate (Term or Closed-End Loan) • Line of Credit Both are secured by your property like your original (or first) mortgage, and for…
Choosing and buying a new home can be overwhelming. Here is how to buy a home in 8 simple steps. 1) Brainstorm and Gather the Facts Whether you are a first time homebuyer or planning on investing in property it…
Completing a loan application is the first thing you’ll do when you refinance your mortgage. You may also need to provide a variety of documentation to help your mortgage lender approve you to refinance your home loan. The documentation will…
When you apply for a mortgage, the lender is required to tell you the interest rate and the annual percentage rate, or APR. But what exactly is the APR? The APR is designed to help you shop for loans by…
This all depends on your situation. However, there are some scenarios where the choice is apparent. For instance, let’s say you need $15,000 to pay for your daughter’s wedding next month and $5,000 to fix your roof next week. In…
There are many reasons that you would consider to refinance your mortgage. The most common is a rate in term refinance where you are trying to lower the monthly payment of your mortgage, by reducing your interest rate. You can…
When escrow is used, a monthly mortgage payment is called a PITI payment. That’s because each one covers a portion of the following four costs: Principal — the loan balance Interest — interest owed on that balance Real estate Taxes…
When you mortgage refinance you are basically taking your current high interest loan and replacing it with a new mortgage loan with a lower rate. And when you Mortgage Refinance Online you save by cutting the cost required to process…