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Finding The Absolute Lowest Interest Rate

Where Do You Find The Lowest Interest Rate On Offer Today? Many factors play roles in determining home loan interest rates. Some of these things are structural and economic, and others are because of the terms that you accept when you take out a new home loan. The Prime Interest Rate The prime rate is the lowest […]

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Funding Home Upgrades By Cash Back At Closing

Options For Financing Rehab And Home Repair When you buy a home, whether to occupy or as an investment, no lender is going just to give you cash at closing and hope that you do the right thing; being smarter than that is how they stay in business. Fortunately, if you do need to find […]

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Funding Home Improvement With Home Equity

How To Withdraw Equity For Home Improvement It may be that you are purchasing a property that needs renovation or perhaps you want to give your existing home a tune up. The cost of doing major renovations is likely to be too high for you to fund it out of pocket, so what do you […]

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What Do Mortgage Originators Do After Your FHA Home Loan Closes?

Mortgage Originators Initiate The Process Your mortgage lender is part of an extensive and wealthy system of residential real estate finance. The person at the very knife-edge of the lending process is the loan originator, the loan officer or independent arranger who helps loan applicants fill out forms, gather documents and submit the loan application; […]

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Use A Second Mortgage To Avoid The PMI Trap

When you finance the purchase of a home, in most cases, you will either have to make a sizable down payment or take out a private mortgage insurance policy (PMI). The choice is cut and dried for most borrowers. But in some cases, if you want to have the most refined control over your costs, […]

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Why Mortgage Back Securities Are A Good Thing For Home Buyers

Bonds are just loans that are so big that the institutions that create them divide them into standardized securities and slice them up into affordable units. That is what Fannie Mae and Freddie Mac do with residential mortgages; they bundle home loans together so that many small streams of income become giant securitized cash flows, […]

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Ginnie Mae Fannie Mae And Freddie Mac – Is There A Difference?

What Are These Bonds And Why Should Home Buyers Care? When you borrow from a bank or finance company to buy your home, the loan itself becomes a valuable asset for the holder. The value comes from your promise to pay the amount due each month, on time, every month. Given the time and effort […]

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When Should You Use Financing With A Balloon Payment?

Balance Due At Maturity The conventional residential real estate mortgage has a structure, which includes monthly repayments of principal and interest, where the payments over the term of the loan pay off the principal entirely, and nothing is due at maturity. In other lending instruments, such as corporate bonds, the borrower has to make payments […]

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Assuming The Loan When You Purchase A Home

Assuming a fixed rate mortgage loan is possible if you can meet some very stringent requirements. Loan assumption is a more compelling prospect if interest rates are rising and it would be harder to get equivalent terms any other way. An assumable mortgage just means that you can transfer the responsibility to repay the loan […]

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All Cash Or Small Home Loan, Pros And Cons Of Each

When you have the funds to pay cash for your home, do you apply for a mortgage a loan or do you pay cash? It is a luxurious dilemma. If you are considering a home purchase and you have the financial resources to pay cash, without the expense and stress of borrowing from a bank […]

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