|Mortgage Refinance Information|
Unlock your Home Loan Piggy Bank
With the recent sharp increase in property values your current home could be a pot of gold.
Property prices have increase about 20% - 30% over the past year but according to economists this current boom will not continue or much longer despite recent changes in property taxes announced in the budget speech.
Home Loan investments
You could get a health profit by selling your home at this time while the property market is hot, but remember you'll need to spend about the same for a home of similar size and in a similar location.
There is another way to access that pot of gold your house currently sits on. You can unlock the value of your property by staying right where you are.
You, as a property owner, can have your property revalued and apply for a further advance on your home loan of up to 100 percent of the new value of the property.
Advancements on your Home Loan
So for example, your home was initially valued at R250 000 and your home loan at the time was R250 000 and your property has since be revalued to be worth R500 000 - you will be entitled an extra R250 000 on your home loan.
It doesn't matter whether you want to use the equity in your home to make an investment or to splurge on consumer goods - banks generally lend subject to the normal credit criteria: whether you can afford the monthly repayments.
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Multi Family Property Living
While most multi family properties are designed to allow the peaceful coexistence of many families within their separate units, some apartments and houses give you the feeling that you're actually living in one big family. Things like sharing one washer and dryer between five families means you never know whose underwear you'll have to fish out of the washer before you start your own laundry. And a shared water heater means that now there's an incentive to early morning classes. Catching the 'Cosby Show' every night at seven through your living room wall keeps you conveniently updated on the latest goings-on in the Huxtable home.
Adjustable vs Fixed Rate Mortgages
Mortgage rates can either be fixed for the duration of your loan or can be adjustable. An adjustable rate mortgage is a loan that is set up with an interest rate that changes based on pre-determined criteria, primarily tied to the federal interest rate. If the interest rates are up, then your interest rate on your loan will be higher, if the interest rates are low than the interest rate on your loan will go down.
Choosing The Right Buy-To-Let Mortgage
Buy-to-let took off during the 1990s with the increasing availability of specialist mortgages tailored towards the sector.
Mortgage Refinancing - Does Size Matter After All?
Hopefully your ego has never had to experience the words, "It's okay honey. Size doesn't matter." After all, what's important is the quality right? In a perfect world, perhaps this is true, but in the realm of mortgage refinancing, what is best is usually based on length. Let me explain.
Home Equity Increases $1 Trillion in Five Years ? Is the Market Peaking?
A new survey reveals that in the last five years, the equity in the California real estate market has increased by more than one trillion dollars. A trillion dollars is a large number to ponder, but put in concrete terms, it can be represented by a stack of one hundred dollar bills that is six hundred thirty one miles high! This astronomical increase in California home values isn't all that unique, however. Prices on the East Coast, particularly in the Washington, D.C. area, are increasing just as rapidly. There are areas on both coasts where home prices have tripled during the last five years. This, along with the dramatic increase in interest-only mortgages among homebuyers, suggests that home prices may be peaking.
Student Home Purchase Plan
Tuition costs are climbing, housing costs are climbing, it seems like all the costs for students are climbing these days. Students can afford cost increases less than any other demographic in Canada. Because of this, parents and students alike are looking for new ways to offset the costs of education.
Home Improvements Turn Average Homes into Dreams Come True
If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage consultant needs to know why you want a home improvement loan. Here are some factors to take into consideration.
Should You Get an Interest-only Home Mortgage?
Before you consider taking out an interest-only mortgage, you should first understand what they are. Unlike traditional, fixed-rate mortgages, interest-only mortgages allows the borrower to initially pay the interest on the principal for a short period of time, rather than making payments on both the principal and the interest. This is how it works: say, for example, you've taken out a mortgage for $100,00.00, which would require a monthly payment of around $1,000.00. However, with an interest-only mortgage, the same payment would only amount to around $695.00. You could use the extra money to pay existing debts, like credit cards or student loans, or perhaps invest it.
Why Choose a Home Improvement Loan?
Many people choose to take out home improvement loans so they can give their house a new look before selling.
Home Equity Loan Improvements
There's more Regulation Z compliance on the way, courtesy of the Home Equity Loan Consumer Protection Act. This fall banks will have to implement the new home equity loan disclosure rules the Federal Reserve Board was required to issue under the act.
Mortgage Lead and Mortgage Leads
A mortgage lead is an exciting thing because you are filled with the thought of buying a house. Mortgage leads are listings of information dealing with how much a house will be. Although the thought of a mortgage lead can be kind of scary, the time when you are looking for a mortgage is one of the most exciting times of your life. Mortgage leads can be found through many different sources, but first you must look at your financial situation before even beginning the thought process of buying a house and looking for a mortgage.
Home Equity Loan ? Beware of Equity Stripping Scam
The market for mortgage refinancing has been brisk during the last few years. The boom in business can be attributed to interest rates that have been at or near historic lows, and to lenders who have more money to lend now that they aren't investing in risky tech stocks anymore. Low rates and agreeable lenders are certainly good for consumers who might be interested in refinancing their home or taking out a home equity loan. Those considering such loans should be aware that the booming market for refinancing has led to increased competition among lenders. And when the competition increases, so does the number of lending scams.
Home Equity Loans Online
If you are in the market for a home equity loan, consider an online lender. Home equity loans online are fast and easy. You could be approved in just minutes when you apply online for a home equity loan. The online lending industry is highly competitive. Online lenders are offering home equity loans with the lowest interest rates in years. When you apply for a home equity loan online, you will be assured of professional service, prompt attention to your questions, and expert advice throughout the entire loan process.
First-time House Buyers: to Buy or Not to Buy; that is the Question
Buying your first house is always a difficult time. There are so many important decisions to make, and problems to be solved, which combine to make it one of the most stressful events that will occur in most people's lives.
What Are Mortgage Brokers And Why To Use One
"Mortgage" is formed from two words: the French word "mort" meaning "dead" and the word "gage" from Old English meaning "pledge". Sir Edward Coke (who lived from 1552 to 1634) explained the term: the land as considered "dead" to the mortgagor, as if the person never had it.
A Home Equity Loan - What You Should Know?
Asking yourself, "Is a home equity loan right for me?" is the first and most important step to take.
Poor Credit Home Mortgage Loans - The Role of the FICO Score
If you have bad credit history and are looking to get a home mortgage loan, then chances are you are going to need to know all about how the FICO credit scoring system works.
2nd Mortgage Loan After Bankruptcy - Get Approved Online
A 2nd mortgage loan after a bankruptcy is possible in as little as two years. Refinancing your mortgage can help you make needed home improvements or pay off high interest debt. Refinancing with adverse credit history requires savvy shopping on your part to ensure that you get a reasonable 2nd mortgage loan.
When Not To Agree To A Home Equity Loan
Before you borrow money on your home's equity, think twice so you don't end up paying more than you expected.
5 Tips for Savvy Use of Your Home Equity Line of Credit
Tapping your home's equity to pay college expenses, consolidate credit card debt or even to buy a new car or boat is common place. Many economists attribute the additional buying power afforded consumers through home equity debt as a primary reason the nation's economy has been able to emerge from the recent recession. Yet, aside from simply allowing consumers to spendmore, the flexibility and efficiency of a home equity line of credit (HELOC) can provide the financially savvy person with the means to savemoney, make money or simply take advantageof opportune situations he or she might otherwise miss out on. Here are five tips to show you how:
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