When shopping for a mortgage loan, every lender will have different rates, fees and points for each loan program. When shopping for a mortgage loan, it is important to understand the three components of a Rate and Fee Quote: (1) Premium Rates (2) Lender Fees and (3) Discount Points.
Picking A Home Loan Short Term
Youve found a home, your credit is in good shape and you have money for a down payment. So, how do you go about picking the right home loan for you?
Reasons to Refinance When Rates Are Moving Up
Thinking of refinancing even though rates are increasing? You are not alone, here are some valid reasons to refinance as mortgage interest rates rising.
Reasons to Refinance Your Home
Many people will take whatever mortgage they can get when trying to purchase a home. Sooner or later, you will start wondering if you can get a better deal. Welcome to the world of refinance.
Mortgages And Interest Rates
Interest rates can affect the type of mortgage you choose and dictate when its wise to make a change. Here are a few of the factors that can be affected by a swing in interest rates:
Choosing a mortgage
When interest rates are rising, a fixed-rate mortgage is usually a good choice, since it locks in the current rate and protects you from the higher rates to come. When rates are falling, an adjustable-rate mortgage (ARM) becomes more attractive, as its interest rate chan…
Mortgages Points and Interest Rates Go Hand in Hand
When it comes to mortgages, many people tend to look at points and interest rates as to separate issues. In fact, they can almost always be used as leverage against each other.
Mortgage Interest Rates 101
Many things affect mortgage rates – which is why they fluctuate. So it pays to understand a little about how mortgage interest rates are generated. The more you know about the economic factors that change rates, the more prepared you are to find the perfect home loan at an interest rate that’s perfect for you as well.
Market Conditions
When the Federal Reserve Board raises or lowers rates, there is usually an impact on the rate you will get for your fixed rate home loan, …
Mortgage Investment and Interest Rates
Let’s begin with the premise that you are a homeowner, have a mortgage and have at least a small amount of money left each month to invest. Where do you invest it? You’ll want a safe investment that pays more than those bond funds. It would be nice if your investment compounded monthly. How about accessibility? Yeah, that’s very important. No problem.
Balloon Home Loans Be Careful
In this modern economy, lenders provide loans tailored to just about any situation. Balloon loans are one such loan, but carry a serious downside if youre not careful.
Bridge Loans From One Home to the Next
Youve lived in your home for some time and circumstances such as an expanding family mean you need a new one. This brings up the subject of bridge loans.
Home Equity Loans The Best 2nd Mortgage for Financing Home Improvements
Tired of looking at those avocado green kitchen appliances? The wood paneling and shag in your family room? The worn fiberglass tub enclosure in the guest bath? Home improvement is sweeping the country. Approximately half of fixer-uppers are do-it-yourself, while the other half is contractor driven. People are financing these improvements with home equity loans.
30 Year vs. 15 Year Mortgages
Discussions of mortgages often focus on interest rates, but there is a much more basic decision to make. Should you go with a 30 year mortgage term or a 15 year mortgage term?