Traditionally, homebuyers could look to two forms of mortgages fixed rate and adjustable mortgages. While there are now many more options, this article takes a look at the adjustable rate mortgage.
What is an ARM Loan?
An adjustable rate mortgage [ARM] is a basic mortgage with one...
When you refinance your home, you get a new loan to replace the one you already have. You might do that to:
Get a lower interest rate
Combine or pay off bills
Get money for home improvements or repairs
Things to consider before you refinance
Refinancing to get a...
Your lender uses your home as security for your mortgage payments. This means that if you do not make the payments, they can take your home. The process they use to take your home is called foreclosure.
If you are behind on your payments, it is important that you act quickly to prevent...
Annual Percentage Rate (APR): Magical Number or Myth When Shopping For Mortgage Refinancing Or Second Mortgage Loans?
Analyzing APR during mortgage refinancing or second mortgage loan shopping can be a very tricky proposition. Many people have come to believe that a loans APR, or...
House hunting can be an exhilarating process as you try to pick that perfect property. Applying for a mortgage isnt nearly as much fun. Following is an overview of how the mortgage industry works.
An Overview of the Mortgage Process
You have a nice chunk of money saved away for a...
If you own a home, you know mortgage products have moved beyond the basic 30 year fixed option. Reverse mortgages are one such product and here is an overview.
An Overview of Reverse Mortgages
A typical mortgage is created when a lender provides you with a lump sum amount of cash...
If youve just started working and saving but you desire to have your own house and own car, you may not need to wait for a decade or so for your dreams to come true. But thats only possible if your mortgage application gets approved.
Mortgage has been viewed by many as a form of lifesaver...
Purchasing a home is a major expense that requires a significant and long term financial commitment. When you initially apply for a mortgage, you are approved for loan funding based on your financial status at the time of application. Most people do not expect that their financial situations...
Mortgage loans are financial loans taken for real estate properties that the borrower has to repay with interest within a fixed period of time. A mortgage loan requires some sort of security for the lender. This security is called the collateral and in most cases, it is the real estate property...
What Are Mortgage Backed Securities?
Mortgage backed securities are securities that are backed by the principle and interest payments on a group of mortgage loans. Lenders group together mortgages and the money that is repaid by the borrowers’ pays investors in the mortgage...
To secure a commercial mortgage efficiently, you would do well to go through a mortgage broker who is a specialist in the area. There is a lot of paperwork to be completed when applying for a loan. Even if you prepare your application carefully and provide all required documents, you may not get...
What is a Home Repair Grant?
Home repair grants are a way for people to pay for home repairs that may otherwise remain unfixed. Home repair grants can bring electric wiring up to code, repair or replace septic systems, and add energy saving features such as insulation and storm...