Interested in getting a home mortgage loan soon? Here is some basic information you need to now about home mortgages. Arm yourself with these pieces of information before moving further.
Before You Buy That House – Do You Know These 7 Things? I Didn’t
1. You can negotiate a better interest rate. Although the general consumer knows you can often get a better deal by shopping around, most people do not transfer this technique to obtaining a mortgage. Keep in mind that the interest rates quoted by lenders are almost always flexible, so all you have to do is ask for a lower rate. Many times, the lender will come back with a better offer if theyre worried that youll take your business elsewhere.
Are You Being Charged These “Fees” On Your Mortgage Loan?
Many mortgage brokers add in fees to your mortgage loan that aren’t completely necessary to process your loan. Sometimes, either the fee itself is not necessary or it can be too inflated. If you are educated about your mortgage loans and the fees involved, you may be able to negotiate for lower fees.
Avoiding PMI – Private Mortgage Insurance
PMI – a recurring, monthly, unwelcome guest. It sounds similar to and is about as welcomed as a similar acronym. PMI is private mortgage insurance. This insurance policy is paid for by the homebuyer when the amount of their primary mortgage is greater than 80% of the value of the property.
Adjustable Rate Mortgages: Good Or Bad?
Deciding whether or not to finance your home using an adjustable versus a fixed rate mortgage is a very important decision. Each of these options has both strengths and weaknesses. However, the final decision comes down primarily to ones level of personal and financial risk, as well as to a simple matter of preference.
100% Financing – No Down Payment Home Loans For People With Bad Credit Or Past Bankruptcy
What’s Going to Help You Get Approved? – To get 100% financing on your mortgage, that means that you have no down payment, which puts more emphasis on the other factors going toward your mortgage loan. For example, you will need to be stronger in the areas like income, employment, recent payment history, low debt-to-income ratios. If you can strengthen some of these factors you will have a better chance of getting approved. If you can find a home with a low loan-to-value rate…
The Pitfalls of Selling Your Home Alone
Many homeowners think that selling home alone without the help of a Realtor will help simplify the process and will save them money in the end. The fact of the matter is that selling your home on your own isn’t easy work. Find out the pitfalls here!
What Do Home Buyers Really Want?
While every homebuyer is different, there are some common themes among those that are looking for a new home. Knowing what the home buyers really want will help you sell your house fast. Read more here!
How To Use Equity to Your Advantage
Once you have purchased a home and are making monthly payments, you are in the process of building equity. The opportunity to use the equity you have built up in your home is one of the benefits of homeownership. Read this article to get more information on how to use equity to your advantage.
5 Ground Rules for Home Buying Success
There are five basic ground rules that you must know when it comes to buying a home and shopping smart, and they are ….
Buying and Selling Home in a Balanced Market
For the first time in a long time, the market is shifting toward a balanced market, where it favors neither buyers nor sellers. When the market is more balanced, you need to approach the buying and selling of real estate a bit differently.
Mortgage loans Obtaining Mortgage Loans Depends on FICO scores
Mortgage loans – Obtaining your loan depends on your FICO scores. Four tips to improving your score. Get pre-approved for a loan.