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

Tag Archive | "mortgage basics"

How Comparable Sales Affect Your Appraisal: Comp Sale Basics

Comparable sales are used to appraise residential properties in the same area. Such a sale is generally known as a comp sale, and is an important factor in determining the value of homes is similar neighborhoods Fundamentally, when appraising a property, an appraiser will check out the selling price of homes of the same size […]

Read The Full Post »

Tags: , ,

Mortgage Escrow: Why an Escrow Account is Necessary

Mortgage escrow is a form of insurance for your lender. An escrow account gives the lender security that your property taxes and home insurance will be paid. This means that your home is not under threat of seizure should you fail to pay your taxes, and that it is insured in case of it being […]

Read The Full Post »

Tags: ,

Estate Planning and Mortgage Loans: Protecting Your Heirs

What do you do about your outstanding mortgage loans in estate planning? At one time it was everyone’s goal to clear their mortgage and for their property to be owned outright with no payment burden on their heirs. Today, however, this is not always possible due to high property and land prices, and various mortgage […]

Read The Full Post »

Tags: , ,

Housing Bubbles – What Are They and Why do They Happen?

Housing bubbles are characterized by steadily increasing property prices in economic situations where homeowners and speculators assume they will continue to rise, and might take equity loans based upon that assumption. This is not in itself a bubble, but is generally taken as such when the bubble bursts, and equity collapses. Not only do those […]

Read The Full Post »

Tags:

How to Find a Mortgage and Lock in a Rate

Most people do not know how to find a mortgage properly, and have little idea of how to lock in a rate. Seeking the best mortgage for your needs is no longer a matter of choosing the lowest interest rate. There many other factors to take into consideration. Here are some generalized suggestions that will […]

Read The Full Post »

Tags: ,

Title Insurance: Is it Necessary and Why?

Title insurance protects you from problems relating to the title or ownership of your home. Most properties have passed through many different hands, involving many different contractual agreements. It only takes one of these to have been sloppily researched for somebody to lay claim to your home because their great-grandparents were cheated out of it […]

Read The Full Post »

Tags: ,

Mortgage Point Basics: Why Paying Points is an Investment

Mortgage points, also referred to as ‘discount points,’ are payable at closing. Each point is charged at 1% of your mortgage loan and reduces your interest rate by a certain amount.  The amount by which the rate is reduced for each point varies according to your mortgage and your lender, though an average is 0.25% […]

Read The Full Post »

Tags: , ,

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: , , ,

Mortgage Rates