.: Mortgages Top Related Articles
1). Offset Mortgages. A dream for well off homeowners.
Offset mortgages represent one of the biggest mortgage innovations seen in recent years. Six years ago there was hardly an offset mortgage to be seen. Now they and the current account mortgage, to which they are closely related, account for £10 out of every £100 of new lending.
What's more, one of the UK 's large lenders believes that 25% of existing mortgage holders would be better off with an offset mortgage.
Article tags: mortgages, mortgage, offset, well, off, homeowners
2). Mortgage Loan – Understanding FICO Scores
Apply for a mortgage loan and you’ll soon become familiar with FICO scores. Here’s a primer on the infamous FICO scoring process.
FICO scores are merely a mathematical representation of your credit record. Credit records are simply a recording of your debts and assets. Credit card balances, for instance, are a debt that appears on your credit record, as do late payments, bounced checks and so on.
Article tags: fico, mortgages, fico scores, mortgage loan, home loan, highest fico score, lowest fico scores
3). Reverse Mortgages – A Tax Free Income For Senior Citizens
I fully realize if it sounds too good to be true, it probably is and There Ain’t No Such Thing As A Free Lunch (TANSTAAFL) immediately jumped into your head when you read the title of this article. However, if you are 62 or over, you may have just found the goose that laid the golden egg.
A reverse mortgage is exactly what the name implies. Rather than you paying a monthly sum of money to a mortgage company, a mortgage company pays you.
Article tags: mortgages, reverse mortgages, senior citizens, lenders, lending, interest rate, social security, appraisal, home ownership, taxes, medicare, ftc
4). What Do The Terms APR, AER And EAR Mean?
Mortgage lenders have a derogatory name for people who switch mortgage lenders to follow lower rates – they call them “Rate Tarts”. The author has a much more apt description – Shrewd Shoppers! After all, who spends more for exactly the same product, in this case money, when you can get it cheaper elsewhere? After all a £ from one lender as effective.
Article tags: apr, aer, loans, mortgages
5). Remortgages - Worth The Switch?
It’s becoming more popular to remortgage your house these days – all this means is switching to a different mortgage and sometimes a different lender to take advantage of a better deal.
If your circumstances have changed since you first took out your mortgage, you may find you want to switch to a new mortgage that better suits you. Likewise, if you chose a mortgage with a special rate for the first few years, once it reverts you’re paying more than other mortgages.
Article tags: mortgages, remortgage, deal, second, offer, equity, spend, home, loan, improvemeny
6). Subprime Mortgages – How Large Of A Down Payment Do You Need?
Subprime mortgages offer more flexibility with down payments than conventional home loans. You can choose to put nothing or over 20% down. And with a subprime mortgage, you don’t have to worry about paying private mortgage insurance.
Zero-Down Mortgages
Zero-down mortgages allow people with little money for initial costs to buy a home. Even with a zero-down mortgage you can expect to pay loan fees and points, which can still add up to a couple of thousands.
Article tags: subprime mortgage, mortgages, bad credit, down payment
7). Using Points To Cut Your Interest Rate
The general mantra in the real estate world is you want to avoid paying points when obtaining a mortgage. As with most assumptions, this is not always true.
Using Points To Cut Your Interest Rate
When discussing mortgages, it is important to understand what points are. Points are essentially an upfront cost you pay a lender in exchange for getting the loan in question.
Article tags: mortgage, mortgages, points, interest rates, buying, lower interest rates, monthly payments
8). Time to put an end to the payment protection insurance witch hunts
THERE has been so much written in the past few months about payment protection insurance it has all become a little confusing. Most of what has been written has been very negative, indeed dangerously negative – witch-hunt proportions even in some quarters. A mortgage magazine even ran a campaign to have single premium accident, sickness, unemployment banned.
Article tags: loans, mortgages, credit, payment protection, insurance, finance, money
9). Securing A North Carolina Farm Loan
If you live in the state of North Carolina, you know that farming plays a valuable role in the North Carolina economy. With nearly 9 million residents, the state has farms producing a wide variety of products. Indeed, North Carolina is a leader in the production of tobacco, sweet potatoes, and turkeys and the state is second in hogs and Christmas trees.
Article tags: north carolina farm loans, farmers association, mortgages, retirement funds, equity loan, usda, hogs
10). How to get the REAL low Home Loan interest rates online
I've been involved with home loans and refinancing for several years now: As I use to work for a large mortgage firm and as a landlord of over 11 properties, and I've tried nearly all the major online loan companies like eloan, and others to compare rates (especially to refinance my income properties). And guess what, other then the largest online loan companies: the ones you see on TV, most of them are not very competitive at all!
These firms don't offer the loans, nor even broker the loan direct to a bank, like most mortgage companies do.
Article tags: home loan, home loans, mortgage, mortgages, refinance, refinancing, student loan, loan, loans, homeowner, house, consumer credit, credit, interest rates, interest rate, rate, rates
11). Mortgage Brokers – The Nuts and Bolts
Using a mortgage broker to shop for home loans can make the borrowing process a lot less stressful than doing it yourself. Here are the nuts and bolts on getting a good broker.
Competent Mortgage Brokers
There are a couple of obvious situations where going with a mortgage broker makes perfect sense. If you have less than perfect credit, a mortgage broker is going to be able to open your eyes to numerous loan options a traditional bank would never tell you about.
Article tags: mortgage, mortgages, home loan, loans, refinance, heloc
12). How to fix your credit score and qualify for a home loan
One might be wondering why some lenders turn down a mortgage application while some others might consider it fit for approval. The answer may well lie in the credit report and the credit score to be precise which plays a crucial role in loan sanctioning.
Credit history is an important factor affecting loan granting decisions by the lender or mortgagee.
Article tags: credit score, credit report, credit rating, mortgage, mortgages, pre-approval
13). Bad Credit Rating - Getting Out The Mess
It sounds like a terrible diagnosis – you’ve got a poor, bad or adverse credit score – as far as a mortgage goes, surely now nobody would touch you with a bargepole?
Article tags: credit, mortgages, loans, bad, history, lender, interest, check, spending, income, payments
14). Home Equity Lines of Credit – Be Careful
Appreciation rates for real estate have been phenomenal in many parts of the country for the last five years. This creation of massive amounts of equity has lead to interest in home equity loans.
Home Equity Lines of Credit – Be Careful
A home equity line of credit provides a homeowner with the liquid equivalent of a hard asset. Real estate has returned excellent rates of appreciation recently.
Article tags: equity, home loans, mortgages, line of credit, equity line, heloc, credit cards
15). First Time Buyers Beware
Although it’s a big undertaking, buying your own home is one of the wisest moves you can make. Rather than pouring money away on rent, you will effectively be investing in your property with every mortgage payment.
You will also become a ‘homeowner’, which should please your bank manager no end. You may find offers of loans and credit suddenly become a lot more frequent, and when you’ve just moved into a new home it can seem tempting to borrow money to kit the place out.
Article tags: mortgages, first, time, buyers, home, house, loan, interest, cost, fee, charge, deal, secured