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Tag Archive | "Mortgage News"

Qualifying For a Mortgage: Mortgage Qualification Factors

Most find qualifying for a mortgage easy, though there are mortgage qualification factors that can trip some people up. It is best to understand what these factors are, so that you can take steps to rectify any potential problems in advance of your mortgage application. In doing this, keep in mind that the mortgage business […]

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Who Should Apply for FHA loans and VA Mortgages?

Who should apply for FHA loans rather than take regular home loans, and are veterans better with FHA or VA mortgages? Let’s first look at why people apply for FHA mortgages, and then discuss the FHA vs. VA question. FHA Loans If your credit score is low and your credit record has a few blemishes, […]

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Home Staging Tips: Make Your Entrance More Appealing

These home staging tips are intended to help you to make a good impression on potential buyers when they first enter your home. Home staging is a very important aspect of selling your property. In turn, an important aspect of staging is to make a good impression right from the start. You should first make […]

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Happy Memorial Day Weekend!

From Our Family to Yours: Happy Memorial Day Memorial Day is a federal holiday observed annually in the United States on the last Monday of May. Formerly known as Decoration Day, it originated after the American Civil War to commemorate the fallen Union soldiers of the Civil War. (Southern ladies organizations and southern schoolchildren had decorated Confederate graves in Richmond and […]

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FHA Streamline Refinance Basics

FHA Streamline Refinances are a very convenient way for those with an FHA mortgage to refinance a home. In fact, it is a very rapid and straightforward method of refinancing real estate – but only if you have an FHA mortgage. The service is not available to those with regular Fannie Mae or Freddie Mac […]

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Amortization Periods: Short or Long Term Mortgage?

Amortization periods have a profound effect on your mortgage repayment figures. Here we discuss the difference between a short and long term mortgage. Once the down payment has been deducted from the price of your new home, the balance is amortized over a period years. Each monthly repayment includes the decreasing principal owed after the […]

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Mortgage Escrow: Mortgage Impound and Escrow Accounts

Mortgage escrow / impound accounts are a means of paying future large payments in advance, with smaller monthly payments. Mortgage impound or escrow accounts may be a requirement placed upon you by your lender, here are some examples. Mortgage escrow accounts are usually set up by a lender who want to insure that you have […]

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Balloon Mortgages – What is a Balloon Loan?

Balloon mortgages involve the payment of a lump sum to clear the outstanding mortgage loan after a specific period of time. A common form of balloon loan in the auto industry is to borrow a certain sum to purchase a car, and agree to a balloon payment at the end of the loan period. For […]

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Cash or Mortgage: Is a Mortgage Better than Buying Outright

Cash or mortgage: which is best? Is a mortgage better than buying your home outright? On the face of it there is no question. Surely paying cash for your home, meaning buying it outright, beats taking a loan every time. You have no interest to pay and no monthly payments to make. So does the […]

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Mortgage Down Payment: Importance of a Deposit on a Home

If you are only able to make a small mortgage down payment on the home you wish to buy, then that will affect the type of loan available to you. In fact, a small deposit on a home will also limit the amount of closing costs that the seller will be allowed to pay for […]

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