Mortgage Refinance Information

No Money Down Home Loan


Are you in the market to purchase a home but are concerned about not having enough money for the down payment? No down payment home loans or 100% financing for your mortgage loan used to be only advertised during late night infomercials and in obscure real estate publications. The good news is that if you want to buy a house but have little or no money available for the down payment, there are mortgage lenders who are offering no money down home loans in your area. Currently, less than half of all homebuyers put down the standard twenty percent. Among first time homebuyers, less than half put ten percent down, and nearly thirty percent of homebuyers financed the total purchase price of their new home.

Home Loans -- The Hot New Product? The 30-year, Fixed-rate Mortgage


In recent years, the mortgage industry has introduced dozens of new types of loans. The needs of every borrower are different, so the mortgage companies have tried to come up with an answer for every problem. They?ve introduced 40-year mortgages, promoted 15-year mortgages, and introduced the wildest array of variable-rate mortgages imaginable. There are mortgages that have interest rates that adjust every few months, every few years, or just once. A recently popular product that thrives on the East and West coasts is the interest-only mortgage, which reduces payments by not requiring payment on the loan?s principal for the first few years of the loan. The prospective homebuyer could have as many as one hundred possible types of loans to choose from when searching for a mortgage. Amidst this huge array of loan types, one type is growing in popularity faster than all the rest, and it may surprise you. The fastest-growing type of mortgage in America right now is the traditional 30-year, fixed-rate loan. Last year, only about 35% of all borrowers took out a 30 year, fixed-rate loan, but so far this year, the rate has increased to nearly 50%.

Home Loans -- Federal Regulators Warn Lenders to Be More Careful


Federal banking regulators have recently expressed some concern over the housing market as home prices in the United States have risen to record levels. While homes are more unaffordable than ever for many people, the lending market remains strong, mostly because of the introduction of new, ever-more-flexible types of loans. While these newer loan types, such as the interest-only loan, make buying a home easier for some borrowers, they also propose a greater risk to the lender.

Gearing Up for Bad Credit Mortgages


Mortgage would have never happened, had mortgages been a no profit venture for the mortgagees or the mortgage providers. The lender receives much more than he had actually lent. And you feared that you would not qualify for the mortgages having a bad credit history. Mortgagees somehow find ways to match borrowers with the offers available with them in order to have your business.

What is a Commercial Mortgage?


A commercial mortgage is a loan that uses commercial property as collateral. A commercial mortgage is a business loan which is secured against a commercial property.

Home Equity Loan Information - How to Use One Wisely


Using a home equity loan to get out of debt or make improvements to your home is usually a smart move. You have earned the equity, so it only makes sense that you put it to good use. Usually this type of loan offers a lower interest rate than credit cards or traditional loans, so it is a wise move for many circumstances. Perhaps one of the smartest uses of a home equity loan is for home improvements. You can take a $10,000 dollar loan, put it towards a new kitchen, and then turn around and sell your home for a profit. There are a few tips to getting the most out of your home equity loan. Use your head and ask questions, and you should have no trouble making the right decision.

Home Equity Lines of Credit Vs. Other Conventional Loans


When it comes to getting money, you have two basic options. If you are a homeowner you can choose to take out a home equity line or credit (HELOC), or you can take out a conventional loan. Both of these products will provide you with the funds needed, but the similarities end there. With varying interest rates and repayment options, you have a wide array of choices. We will discuss the differences between these two options, and then decide on which one is best for the typical homeowner. Remember, that everyone?s situation is different, so use your best judgment when choosing a loan product.

Home Equity Loans - 5 Useful Application Tips


Obtaining a home equity loan does not have to be a major ordeal. Unlike your first mortgage, you are already in the home, and usually time is not such a major factor. You can close the loan at your own leisure, and take your time researching the different options available to you. Below you will find five tips that will help you make the process as painless as possible. Remember that your best defense is a good offense, so understand the process and everything that is involved. Don?t let your lender pressure you into something that you don?t understand.

Homes, To B(uy) or Not to B(uy)


Whether you are just moving out on your own for the first time, or you?ve moved ten times before, there is always a big choice to make. Do you rent or buy your home? There are valid arguments on both sides, and in different scenarios either one could be the right choice. When you start looking into your next, and possibly final living space, there are a number of things you should consider.

Remortgages Guide


Outlined below is a useful remortgages guide. Remortgaging has become increasingly popular due to the relatively simple and flexible process.

Should You Refinance Your Mortgage if Interest Rates Drop?


Mortgage refinancing is when you take a mortgage of a certain interest rate and term length, and change it for a different interest rate and term. If you are looking to refinance your home loan it is usually done when rates have dropped considerably therefore making it advantageous to do so. When I say considerably it usually means a drop of at least 1% from what you're paying now.

10 Questions To Ask Your Mortgage Rep or Banke


This post is a must read for anyone considering purchasing a home be it today, tomorrow or next year. It is sound advice.

What Is The Best Deal For A Mortgage?


Few of us invest the time and effort into researching and securing the best deal for a mortgage to purchase our home.

Council Right To Buy Mortgage ? Transform Your Accommodation Into Home


Homeowner - does this term catch your attention every time you hear it? It is a powerful term. It is hard being a tenant for long. Eventually you want to own a house perhaps that was your aim all along. If you dream of your own home every night then perhaps council right to buy is the scheme which you need to look out for. If you have lived in your council house for long then you may be able to buy the house at discount through council right to buy.

Financial Rebirth Through Remortgage


Seldom in ones life do we get a chance to alter the mistakes we made in the past. Remortgage offers a once in a life time opportunity to change from a mortgage to another that is more desirable.

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Mortgage Refinance Sources 2005