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The Critical Role of the REALTOR®
Category: Real Estate/National
... 45. Obtain current mortgage loan information; company and loan account numbers 46. Verify current loan information with lenders 47. Check assumability of loans and any special requirements 48. ...Friday, 11 January 2008 -
The Mortgage Checklist
Category: Real Estate/Mortgages
... for loans. The exact types of documentation required may differ slightly between lenders, and depending on your specific situation. Income Names and addresses of your employers for the last ...Wednesday, 26 December 2007 -
How Much Can You Afford to Borrow?
Category: Real Estate/Mortgages
... here. Calculating Your Monthly Debt ServiceTo calculate your monthly debt service, include credit card debt, loans, personal debts, and any other ongoing financial obligations. You don't need ...Wednesday, 26 December 2007 -
When to Fire Your Mortgage Lender
Category: Real Estate/Mortgages
... that press you to accept higher risk loans that allow you to borrow more than you can afford (interest-only mortgages and balloon mortgages fall into this category). Mortgage companies that promise ...Wednesday, 26 December 2007 -
The Truth About Private Mortgage Insurance
Category: Real Estate/Mortgages
... insurance once you have 20% equity in the house. This means that you must reach a point where you have paid 20% of the principal of the loan. In some high-risk situations, such as bad credit loans ...Wednesday, 26 December 2007 -
Tips for First-time Buyers
Category: Real Estate/Buyer
... can avoid common first-time buyer mistakes. Try to Refrain from Large Purchases If possible, don't make any big purchases or take out loans that you can't pay off in full within six months. When ...Wednesday, 26 December 2007 -
Overcharges Run Rampant in Home Loans
Category: Real Estate/Mortgages
... standard was not an effective way to deal with bad mortgage selection, unaffordable loans or refinances that don't benefit borrowers. This article looks at suitability in connection with the problem ...Wednesday, 26 December 2007 -
All About Escrow Accounts
Category: Real Estate/Mortgages
... prepare statutory disclosures (such as smoke detectors, environmental hazards, and zone disclosures), provide the escrow agent with information about existing loans, make sure the property is available ...Wednesday, 26 December 2007 -
Deciding on a Mortgage Lender
Category: Real Estate/Mortgages
... options carefully before choosing which type to go for. Banks and Credit UnionsBanks and credit unions use money deposited with them to make loans and mortgages. If dealing with a local institution ...Wednesday, 26 December 2007 -
Mortgage Glossary
Category: FAQs/General
... first fails. Balloon mortgage - Balloon mortgage loans are short-term fixed-rate loans with fixed monthly payments for a set number of years followed by one large final balloon payment for all of ...Wednesday, 26 December 2007 -
Everything You Need to Know About Mortgage Interest Rates
Category: Real Estate/Mortgages
... inflation, by setting terms for the federal funds rate (the interest rate which banks charge each other for short-term loans), and the discount rate, (the interest rate lenders pay to borrow from ...Wednesday, 26 December 2007 -
Is an Interest-only Loan for You?
Category: Real Estate/Mortgages
... or if mortgage interest rates rise sharply (most interest-only loans have an adjustable interest rate). And if the worst happens and the value of your property decreases, you stand a good chance ...Wednesday, 26 December 2007 -
Tighter Lending Rules Could Backfire
Category: Real Estate/Mortgages
Case histories of subprime loans that have gone to foreclosure often generate righteous indignation. With benefit of hindsight, many if not most of them look as if they never should have been made. ...Wednesday, 26 December 2007 -
Four Reasons for Getting a Home Equity Loan
Category: Real Estate/Mortgages
... problems, and it is in fact how most people use home equity loans. It's an attractive prospect, because you can use a home equity loan to pay off multiple smaller debts, leaving you with one monthly ...Wednesday, 26 December 2007 -
How to Find the Best Loan for You
Category: Real Estate/Mortgages
If you're not familiar with the various types of mortgages and loans, you stand the chance of paying out thousands of dollars more than you should during the life of your loan. There are several ...Wednesday, 26 December 2007 -
How to Finance a Remodel
Category: Real Estate/Mortgages
... it substantially later on. FHA 203(k) Mortgage These are FHA-insured loans which let you refinance your first mortgage and combine it with your remodeling costs into a new mortgage. This type of ...Wednesday, 26 December 2007 -
The New 40-Year Mortgage
Category: Real Estate/Mortgages
... 40-year loans usually carry a higher interest rate than 30-year loans, because the extended term means that lenders carry more risk. Another significant problem with the 40-year mortgage is that ...Wednesday, 26 December 2007 -
Mortgage Mistakes to Avoid
Category: Real Estate/Mortgages
... purchase, it makes sense to shop around. Many lenders often push the loans for individuals with lower credit as there is often more of a payout for them. If you don't know what the common interest rates ...Sunday, 23 December 2007 -
Best Way to Buy Home That Needs Repairs
Category: Real Estate/Buyer
... can credit a buyer at closing. On a mortgage for 100 percent of the purchase price, lenders usually limit the amount of a credit to 3 percent of the purchase price. On loans for 90 percent or less of the ...Saturday, 22 December 2007 -
Shopping for the Best Mortgage
Category: Real Estate/Mortgages
... for purchasing or refinancing. Don’t let the confusion of mortgage options keep you from a new home or lower interest rate. Here is an introductory lesson to the four most common types of home loans. ...Friday, 21 December 2007