Real Estate

Types of home equity loans: Fixed-Rate Loan vs. Line of Credit

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 this reason are referred to as second mortgages. Home equity…

Buying A Home In 8 Easy Steps

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 is always a good idea to go in with a…

Refinance Checklist that you need to go through to complete a loan application

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 vary depending on the lender you choose, your loan program,…

Understanding Mortgage APR

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 making them more comparable. “It’s the one common denominator by…

Which type of home equity loan should you choose?

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 this scenario you know exactly how much money you need…

Tips on how to refinance your mortgage

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 also refinance to consolidate debt, pay off a car, take…

What’s in a PITI payment?

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 — taxes assessed by different government agencies to pay for…

Reasons to Refinance your Mortgage

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 your loan. Customers refinance to get cash out for home…

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