You had mortgaged your home and now you need money. What will you do now? Take another loan or borrow some money from your friend and increase your credit burden. I have a better option for you, you can go for Remortgaging.
Remortgaging means replacing your existing mortgage for a new...
Something that is very important for you to take into consideration when purchasing or refinancing your home is the closing costs.
I would love to tell you that closing costs are not expensive, but believe me they are. Once you add up all the fees involved, such as points, taxes, title...
Remortgage or refinance is a right that lenders of the yesteryear were afraid to offer to borrowers. In fact, remortgage was severely prohibited through clauses such as early repayment penalty. The logic was that by refinancing the borrowers were actually paying off the mortgage earlier. In this...
Ever wonder how lender’s come up with the rates they do? You can stop wondering, cause I’m going to tell you how. We all answer to a higher mortgage rate power, namely the secondary market. The secondary market is where Fannie Mae, Freddie Mac, and other mortgage lenders ply their...
Are you tired of paying high-rate of interest on your mortgage? Want to get rid off this situation? Looking for an option that will suit your pocket? There is only one solution to solve all these problems. That is remortgage- a best option that will be your pocket-soothing indeed.
Now the...
A relatively newer concept in the lending market has been the emergence of brokers. The role of a broker becomes all the more important in an adverse credit mortgage or mortgages aiming to meet specific requirements. A broker is different from a lender. While lenders themselves lend to...
In certain cases, the amount of interest that an individual pays up front on their home loan or other form of mortgage is known as ‘points’ in relation to the mortgage. Since the interest of a mortgage is tax deductible up to a certain amount each year, individuals need to be aware...
If the last time when you thought about your mortgage was when you bought your home, then it is time you gave it a fresh reflection. I know, I know probably you have a good mortgage and you probably find remortgage too chaotic there are still reasons why remortgage is advantageous for you. You...
Mortgage foreclosure can occur if homeowners, who have taken a VA, conventional loan, or an FHA insured loan, default on the mortgage payments. Foreclosure can lead to the lender gaining possession of a borrowers home. If the value of the home is less than the mortgage amount, the homeowner may...
How a Reverse Mortgage Can Benefit Homeowners 62 or Older
Reverse mortgages give eligible homeowners the ability to access the money they have stored up as equity in their homes. They are designed to build seniors’ personal and financial independence by providing funds without the...
More than 25% of homeowners are paying for their homes with an interest-only mortgage say the Abbey. The reason is obvious their monthly payments are much less. For example, a 125,000 interest only mortgage at an interest rate of 5% and repayable in 25 years time, costs 525 per month –...
How A Mortgage Calculator Can Save You Bundles Of Time
A mortgage calculator is perhaps the most valuable tool for anyone shopping for a new home. The reason is because a mortgage calculator can provide a variety of different figures, including monthly payments, affordability and interest...