Mortgage Articles

Finance » Mortgage | By Chris Esposito @ Sunday, 8th June 2008 @ 8:59 AM

The appraisal is just as important to your construction loan qualification as your income, assets and credit. The appraisal for a home to be built is even more important than an appraisal for a home that already exists. For a construction loan, the appraiser will do what is called a "plans and specs appraisal," meaning they will examine the plans and specifications for the home to be built and compare it to existing homes in the immediate area that are similar. An appraisal is an... more...

Finance » Mortgage | By Cindy Heller @ Sunday, 8th June 2008 @ 5:31 AM

Taking up a refinance mortgage loan, also referred to as a second mortgage, may at the start seem daunting. Nevertheless, if you use a methodical approach, it will be as easy as 1-2-3. Prior to taking out a refinance mortgage loan, you should decide precisely why you want to do that. A home loan could be compared to buying a vehicle. While countless options exist, only a few seem right for you. A choice of varieties of mortgages satisfies various needs of the customer. In particul... more...

Finance » Mortgage | By Shaun Greer @ Sunday, 8th June 2008 @ 4:59 AM

Unlike the last generation, there are a number of influences that can go into your mortgage payment. These different factors have contributed to some homeowners losing their property entirely. When some of these influences catch the homeowner unaware, they can translate into foreclosure and bankruptcy. The biggest warning that financial investors give to homeowners now days is to avoid biting off more house than your financial future can swallow. After all, there is more in your future th... more...

Finance » Mortgage | By Cindy Heller @ Saturday, 7th June 2008 @ 8:02 PM

Mortgage refinancing can be a superb source of extra cash and it can help you pay off other bills when you are behind. It can also help you to purchase a home or to obtain funds for an investment, among other things. If you are taking into consideration refinancing your own mortgage then before you get too ahead of yourself you should get some mortgage refinancing advice. Where to Look If you are looking for some mortgage refinance advices there are a few great options available to... more...

Finance » Mortgage | By Cindy Heller @ Saturday, 7th June 2008 @ 7:00 PM

Although a home mortgage refinance is extremely profitable the majority of the time, there are certain situations where it is not indispensable going to be ideal. Each homeowner is only one of its kinds and it is important to take all of the necessary information into consideration and consider all options before making any rash decisions and following through. When it comes to a home mortgage refinance, there are some things that you can do in order to agree on whether or not it is the ... more...

Finance » Mortgage | By John Navata @ Saturday, 7th June 2008 @ 6:19 PM

A mortgage payment represents one of the greatest expenses of the typical American citizen. But mortgages never seem to get paid off (even though we know it happens). The reason for the seemingly endless duration of a mortgage note is that a mortgage payment is much more about interest on the loan than it is about the loan amount, or "principal". Until the final years of a mortgage, most of your monthly payment to the lender goes to finance the interest payments on the p... more...

Finance » Mortgage | By Jared Martin @ Saturday, 7th June 2008 @ 11:41 AM

"FHA" and "First Time Homebuyers" are real buzzwords as far as home buying is concerned, especially when those terms are used in combination. Many readers have heard the "FHA loans are great for first time homebuyers" street talk, but without detailed, supporting information as to why. The intent of this article is to quantify the features of this loan, both good and bad, and discuss the circumstances under which it's a beneficial program to the homebuyer (eit... more...

Finance » Mortgage | By Jared Martin @ Saturday, 7th June 2008 @ 11:33 AM

A common question most borrowers have is, "how is my loan application evaluated", or "what is an underwriter looking for?" There are 4 main criteria by which an underwriter evaluates a loan: capital, capacity, character, and collateral. The first three relate to the borrower, and the fourth refers to the evaluation of the property. Most of the documentation that must be provided in the loan application is for the verification and validation of these 4 parameters. The following is... more...

Finance » Mortgage | By Helen Hecker @ Thursday, 5th June 2008 @ 4:51 PM

Mortgage fraud is on the rise today in the housing market, significantly so since 2001. In a real estate market where mortgage fraud was few and far between it has grown to high levels for both buyers and sellers and has created havoc and financial damage in the lives of many homeowners and home buyers. First-time home buyers and seniors are two of the highly targeted markets for home mortgage scams. Mortgage fraud actually refers to a variety of scams. Most of these scams involve inflat... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Thursday, 5th June 2008 @ 10:17 AM

There are a number of benefits which may be associated with re-financing a home. While there are some situations where re-financing is not the right decision, there are a host of benefits which can be gained from re-financing under favourable conditions. Some of these benefits include lower monthly payments, debt consolidation and the ability to utilize the existing equity in the home. Homeowners who are considering re-financing should consider each of these options with their current fi... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Wednesday, 4th June 2008 @ 5:47 AM

In 1938, Fannie Mae was established by the US Government to promote the growth of home ownership by providing a secondary mortgage market. What is a secondary mortgage market? Well, the secondary mortgage market exists in the buying and selling of a mortgage from one lender to another. The bank, or Mortgage Company that provided you with your loan, can turn around and seek to sell your mortgage to a company such as Fannie Mae. This frees up their cash to make another mortgage loan. ... more...

Finance » Mortgage | By Chris Esposito @ Tuesday, 3rd June 2008 @ 5:48 PM

Whether you are building your home as an Owner Builder or hiring a General Contractor, there are several people that will be involved with your loan process in addition to the loan officer with whom you choose to work. Knowing the roles of each of these people will make your loan process flow smoothly and quickly. Here is a brief summary of each person and their job description. All of these people working together are needed to get you from application to closing in a timely and stress-f... more...

Finance » Mortgage | By Michael Branson @ Tuesday, 3rd June 2008 @ 5:12 PM

After 31+ years Mortgage Banking experience working for large banks and Mortgage Bankers, we decided it was time to start serving our senior clients as mortgage brokers. When asked why we chose to do this rather than accepting positions with large banks, we tell people it was an easy decision to make, we love what we do, and we believe in servicing our senior borrowers with nothing but the best. As mortgage brokers, we deliver the best for our customers in both products and service. Allo... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 4:58 PM

Where do you find low interest, interest only mortgages? Almost every store on the street offers these types of mortgage products, but who is the best, and who is the lowest? That's going to take some work on your part, and maybe just a little luck. What kind of information will you need in order to shop for and secure a great interest only mortgage, with a great low interest? Well, you're definitely going to need a good credit rating, proof of income, an appraisal on the ... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 4:53 PM

The real estate market and the mortgage market are great friends; they generally are seen hand in hand, wherever they may go! One fuels the other's ambitions. Never a truer statement has been made and they (the real estate and the mortgage market) seem to feed off each other, as they both have continued to grow over these last few years. If a potential buyer has the greater possibility of securing a mortgage, the greater the opportunity to sell a home or buy a home become... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 3:55 PM

Alright, you've been a homeowner for some 10 years now, and you've decided it's time for improvement and expansion. What is the best way to obtain the funding for home improvement projects? A home equity line of credit is often the most feasible and profitable way to access extra cash for home improvement. How do you obtain home equity credit? What lenders provide home-equity credit? And who qualifies for home-equity created? All these questions will be answered in t... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 9:55 AM

One of the most important decisions a homeowner will have to make when deciding to re-finance their home is whether they want to refinance with a fixed mortgage, an adjustable rate mortgage (ARM) or a hybrid loan which combines the two options. The names are pretty much self explanatory but basically a fixed rate mortgage is a mortgage where the interest rate remains constant and an ARM is a mortgage where the interest rate varies. The amount the interest rate varies is usually tied to a... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 9:52 AM

Choosing a lender is a very important part of the process of re-financing a home. Understanding the different re-financing options and knowing how each of these options work is very important but none of this matters at all, if the homeowner is unable to find a lender who is willing to offer them the rates and terms they are seeking. Choosing a lender can be a long and difficult process but there are some ways to make it easier. One simple way to make it easier is to ask for advice from ... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 9:49 AM

Homeowners who are planning to re-finance their home may find the Internet to be a very worthwhile resource. The Internet is useful because it can give the homeowner a wealth of information as well as the ability to compare different rates from different lenders at their convenience. While these options have made re-financing a more convenient process there is more potential for danger. However, homeowners who exercise a small amount of common sense in using the Internet for re-financing... more...

Finance » Mortgage | By Uchenna Ani-Okoye @ Tuesday, 3rd June 2008 @ 9:25 AM

Homeowners who are considering re-financing their home may have a wealth of options available to them. However, these same homeowners may find themselves feeling overwhelmed by this wealth of options. This process doesn't have to be so difficult though. Homeowners can greatly assist themselves in the process by taking a few simple steps. First the homeowner should determine his refinancing goals. Next the homeowner should consult with a re-financing expert and finally the homeowner ... more...