Need Mortgage Help?
888-760-0222
Fast Mortgage Rate Quotes

Tag Archive | "mortgage basics"

Financing Closing Costs: Is it Worth it?

Financing closing costs might save you having to come up with a lot of cash, but is it worthwhile doing? Here we shall discuss closing costs and the pros and cons of financing them in full or in part. Closing costs include items such as loan-origination fees (0.5% – 1.5% of loan amount,) credit check fees, […]

Read The Full Post »

Tags: , ,

Mortgage Amortization and Mortgage Repayments

Mortgage amortization is designed to allow you to pay the same monthly mortgage repayments for the entire term of your mortgage loan. The interest on a mortgage is a large part of your monthly repayment. However, it reduces each month – why is that when your payment remains the same? Briefly, the relative amounts you […]

Read The Full Post »

Tags: ,

Mortgage Loans: Types of Mortgage Lenders and Loan Officers

Mortgage loans are available from different types of mortgage lenders. Many people are confused by the differences between types of lender, and also by the role played by loan officers. Here is a brief explanation of the parts played by those that may be involved when you apply for a mortgage. Mortgage Brokers Mortgage brokers […]

Read The Full Post »

Tags: , , ,

Joint Mortgage and Joint Ownership: Which is the Better?

A joint mortgage means nothing more than that two people are sharing the responsibility for paying the mortgage loan. Both names are included on the loan agreement, and both are equally responsible for ensuring that the mortgage loan is repaid as contracted.  It does not infer that each has a share in the ownership of […]

Read The Full Post »

Tags: ,

The FHA 203(k) Loan Program: Mortgages for Distressed Homes

The FHA 203(k) loan program is an ideal platform to receive mortgages for distressed homes. If you have a new home in mind, but it requires a great deal of renovation, a 203(k) mortgage would be ideal for you. First, let’s discuss what the term means, and then how it would help you to save […]

Read The Full Post »

Tags: , ,

Simple Interest Mortgages Vs Regular Mortgages

The fundamental difference between a simple interest mortgage and regular mortgage is in the way the interest is calculated. With a regular mortgage, interest is accrued monthly, while with a simple interest mortgage it is daily. When interest is accrued daily, you could end up paying more that were it calculated on a monthly basis […]

Read The Full Post »

Tags:

Mortgage Questions: Prepaid Interest and Escrow Accounts

This mortgage questions post will cover the topics of prepayment. Several questions we have received have related to the topics of prepaid interest and also escrow accounts. Many find it difficult to understand the concept of ‘escrow’ in general. We shall try to make that clearer here. First, however, the question of prepaid interest. Mortgage […]

Read The Full Post »

Tags: , , ,

Mortgage Questions: Mortgage Terminology Explained

The mortgage questions we are asked are often based upon mortgage terminology. Some terminology is difficult to understand. We will start with some that relate to simple terms that are often misunderstood, and then progress to those that can really be confusing. Mortgage Questions: What is Preapproval? When you are looking for a new home, […]

Read The Full Post »

Tags: , , , ,

Mortgage Escrow: What are Escrow Services for Mortgages?

Mortgage escrow is a term used when money is placed into a third party account for further use with a second party. It cannot be used either by the payer or the recipient until certain conditions have been met. The third party will then release the funds as directed. Such services are generally operated by […]

Read The Full Post »

Tags: , ,

Property Investment: Real Estate Investment in Your Portfolio

Property investment can be volatile, so should real estate investment be a component of your portfolio?  The problems of the sub-prime mortgage fiasco have never really disappeared, and we still hear of foreclosures, short sales, opportunities and lost dreams – so does real estate offer good investment potential or not? Here are some pros and […]

Read The Full Post »

Tags: ,

Mortgage Rates