Home Loan Advising Made Simple
An FHA mortgage is a home loan insured by the Federal Housing Administration. The FHA does not provide money directly to borrowers; rather they insure the mortgage against a default. This makes Federal Housing Administration borrowers particularly … [Read more...]
A rate lock is a short-term agreement for a lender to "hold" an interest rate on a home while the buyer negotiates the actual sale. Rate Lock Requirements Requirements for rate locks vary from state to state. Within states, individual lenders often … [Read more...]
Before you become a first time homebuyer, it's a good idea to stop and ask yourself a few questions. Depending on your circumstances, renting for a few more years may be the sound financial move to make. How Long Do You Plan to Stay in the Home? If … [Read more...]
Is it wiser to rent a home or to take out a mortgage and purchase one? In the past, conventional wisdom has held that buying is more sound financial decision. In today's market, however, there are some cases where you might actually come out ahead … [Read more...]
With interest rates at all time lows, many homeowners are attempting to refinance their mortgage, and with the economy in a spiral it makes perfect sense to refinance or seek a home loan. ItÕs also important to remember the many factors that go … [Read more...]
Within three days of receiving your loan application, your lender must give you a good faith estimate that clearly describes the terms and fees for mortgage you selected. As of January, 2010, HUD provided a standard three-page form to make it easier … [Read more...]
Most people who are in the market for a new car would never dream of going to only one dealership, yet those same people often neglect to shop around to find the home loan that works best for them. If you are in the market for a new home loan, try … [Read more...]
The historic foreclosure level is no secret these days, and many homebuyers are seeking to find the best deal possible. Buying a foreclosed property might just be the offer of a lifetime! With interest rates at historic lows and refinancing … [Read more...]
Its hard to look at todays rates and not wonder if its time to refinance your mortgage. You also might be asking yourself if you have the credit ranking, and financial ability to do so. This economy has affected everyone, and having a lower mortgage … [Read more...]
Fundamentals of Understanding Your Mortgage Rate A mortgage rate is the interest rate you pay on your home loan. Understanding your mortgage rate is important, because your rate, along with your loan type and your loan amount, determines your monthly … [Read more...]