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Tag Archive | "mortgage basics"

As Prices Go Up How Soon Can I Refinance My Mortgage?

Don’t Just Churn Your Finances Once you have closed on your mortgage, collected the keys and settled into your new home, you might start thinking about how you can get a better deal. Maybe your payments are high, compared to the market rate, or you want to change the term over which you repay the […]

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What Will Influence The Price Of My ARM Rate-Hike?

The Adjustment Depends On The Index When you take out an adjustable rate mortgage (ARM), you agree to allow your lender to make periodic adjustments to the interest rate that you pay on the balance of your home loan. The mechanics of the adjustments come from the terms that you agreed to at the beginning […]

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Is Co-Signing A Mortgage A Good Idea? The Pros And Cons

There are at least as many ways to finance a home purchase as there are circumstances in which to buy your home. Help from a friend or family member is one way to get that first home when it would otherwise be just out of reach. Co-signing the loan for a beloved family member is […]

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Move In Together And Merge Your Finances, But What About Refinancing?

It is an exciting time when you move in with a partner, one that should be the epitome of happiness. However, organizing cohabitation is more complicated in practice, especially if either one of you already owns the home and makes payments on a home loan. The question of whether you should refinance is a part of […]

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Back To Credit Score Basics – What You Can Do To Qualify

How Do You Get A Credit Score? The consumer finance tool known as your FICO Score came from its namesake, The Fair Isaac Co., in response to a need for financial institutions to have a mathematical snapshot of consumer financial health. For sixty years it has helped American financial services companies to judge the credit […]

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Do Adjustable Rates Make Home Loans Dangerous?

Adjustable rate mortgages or ARMs are home loans where your payments change with the state of the economy, to reflect changing interest rates. A typical ARM has a period fixed for five years and then adjusting annually after that. The hazard for ARMs is that, if the economic conditions are right, they can become very […]

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Private Mortgage Insurance Is Your Conventional Loan Leverage

But Leave It Behind At The First Opportunity If you thought that borrowers have to put a twenty percent down payment on a home to conventional home loans, you would be pleasantly surprised to find that this is not the case in fact. Borrowers can purchase insurance on conventional loans. The innovation of private mortgage […]

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Marking The Path To Home Ownership With Information

Use Your Personal Financial Information To Help Yourself The digital age gives consumers the chance to find out how they appear to credit agencies, to track changes in credit and manage finances better. With a little determination, consumers who know how to exploit the technology and interrogate the right information sources can use it to […]

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Jumbo Loans Unlock Dream Homes

Financing A Worldly Paradise If price were no limit what kind of house would you buy? If you look around at your local housing markets from this point of view, it’s incredible what you can purchase with sums of money that are not that far out from the typical home loan. If you have excellent […]

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Should You Take The First Loan Your Lender Offers?

Crafting The Right Loan For You The principle here is to get prequalified with confidence but get pre-approved sparingly. The difference is that for the latter, you will have to have a hard inquiry on your credit report that adversely affects your credit score every time you do it; too many home loan inquiries could […]

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