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Tag Archive | "mortgage basics"

Should A Mortgage Be Cleared On Retirement?

There are many people who, upon retirement, receive a lump sum payment. While it could be very tempting to pay off the mortgage, is this really a wise move? The lump sum payment could also be used to pay off loans which have been taken out in the past and which have high interest rates. […]

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The Mortgage Application Process In Four Stages

The mortgage application process is all about the paperwork and you can generally determine your eligibility for a home loan in advanced of making any decisions on a particular property. There are a few things that you can do that will put you in a position of strength at the bargaining table. One of the […]

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Mortgages For Retired People: Can Retired Home Buyers Get A Mortgage?

Ever wondered what a person should do who is currently retired from his or her job but always had a dream of buying a home? If he or she is not actively earning, then is that person eligible for a loan? The answer to this question is very comforting. As per the Equal Credit Opportunity […]

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Three Tips To Close Your Home Loan Faster

There are two ways to look at how you close your home loan. When you are taking out a home loan to buy a home, the term closing means the initial setting up the loan with your bank, as part of the escrow process. Indeed you can close your home loan faster by taking precautions […]

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Private Mortgage Insurance Basics

Do You Need Private Mortgage Insurance? Good practice in real estate lending and homeownership suggests that the homeowner ought to have at least a 20% equity stake in their home. That is all well and good but it would put ownership out of the reach of most people in the country. As a nation we tend to […]

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Newlywed Mortgage Basics

Purchasing a new home together can be a wonderful way to start a new journey of togetherness for newlyweds. This new home will be an abode in which to share beautiful memories and happiness. Buying a new home involves a huge investment; you need to be quite cautious at every step of buying a new […]

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FHA Mortgage Versus Conventional: Which is Best?

If conventional loans are like square pegs for square holes, FHA loans have government backing that square’s the circle and helps put the round peg in that same square hole. There is a cost to this, so logically you don’t want to pay any more than you have to. FHA and similar government backed home […]

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Balloon Mortgages And When They Make Sense

It sounds a little strange doesn’t it that companies would come up with the name “balloon” to describe a mortgage. However, it makes more sense when you understand what a balloon mortgage is. It allows you to borrow a larger amount, paying only on a percentage of what is borrowed, and then making one “balloon” […]

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Home Loan Financing Basics: How Much Home Can I Afford?

How much home can I afford? That has got to be the question in every potential homebuyer’s mind. Regardless of your savings, credit history or monthly budget, when it comes to home loan financing, it can be tricky to guess at home much home you can afford. Home Loan Financing Gets You Into The Market The […]

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Fixed Rate Vs Adjustable Rate Mortgages

There are many ways that you could structure a home loan payment but there are some that are more popular and well known than others. Overall, they fall into one of two main categories defined by the terms of the interest payment: Fixed interest rates throughout the term of the loan and adjustable rate mortgages (ARMs). […]

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