Mortgage Resources
Conventional Loan Financing
Conventional loans are secured by government sponsored entities or GSE's such as Fannie Mae and Freddie Mac.
Mortgage Resources
7 Costly Mortgage Mistakes
Avoiding all seven mistakes and getting financing for your home arranged in advance takes time but it doesn't need to be difficult.
Mortgage Resources
Adjustable Rate Mortgage ARMs
Various types of adjustable rate mortgages and the differences between them.
Mortgage Resources
Balloon Mortgage
Balloon loans are short term mortgages that have some features of a fixed rate mortgage.
Mortgage Resources
Breckenridge Colorado Bridge Loan
A bridge loan as the name implies is a loan used to bridge the financial gap between monies required for your new property completion prior to your existing property having been sold.
Mortgage Resources
Breckenridge Mortgages for Built Green Homes
As a mortgage professionals,we take into consideration everyone enjoys the outdoors and we are always willing to help protect our environment.
The great news is that the mortgage industry is now developing energy and environmental products that make sense for the consumer.
Mortgage Resources
COFI Index
Mortgage Resources
Credit-Blemished Borrowers- Home Ownership is Possible!
In a lot of cases an experienced Mortgage Banker can help credit-blemished borrowers obtain home financing.
Mortgage Resources
Fannie Mae Home Loan
Fannie Mae helps families achieve the American Dream of home ownership.
Mortgage Resources
FHA Home Mortgage Insurance
Programs that help low and moderate income families become homeowners by lowering some of the costs of their mortgage loan.
Mortgage Resources
Freddie Mac Home Loan
Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing.
Mortgage Resources
Ginnie Mae Home Loan
Ginnie Mae's goal is to support the expansion of affordable housing in America.
Mortgage Resources
Graduated Payment Home Mortgages (GPM)
The GPM is an alternative to the conventional adjustable rate mortgage, and has a fixed note rate and payment schedule.
Mortgage Resources
Hard Money Loans
Hard money loan criteria varies from one lender to another. The more flexible the lender is about the terms, LTV (loan to value), financial qualifications, etc., the higher the risk to the lender and therefore the higher the rates you will pay.
Mortgage Resources
Home Equity Loans Reverse Mortgage
A reverse mortgage is a special type of loan made to older homeowners to enable them to convert the equity in their home into cash.
Mortgage Resources
Home Mortgage Down Payment
There are several ways buyers, including first time home buyers can obtain down payment assistance.
Mortgage Resources
How to Avoid Home Loan Foreclosure
The guidance below (and in the "How to Avoid Foreclosure" pamphlet) is applicable to homeowners with FHA Insured loans. While a good deal of this information may apply to all homeowners in danger of losing their homes, not all of the foreclosure avoidance tools mentioned may be available to you if you have a VA or conventional loan. Additionally, HUD/FHA does not have any Loss Mitigation oversight over VA or conventional loans. Please contact your lender or a housing counseling agency.
Mortgage Resources
Interest Only Home Mortgage Loan
Interest only products are an easy way to save money and a very popular alternative to traditional fixed rates but they are not without risk. An "Interest Only" loan can offer consumers greater purchasing power, increased cash flow and a number of other benefits which are listed later in this article.
Mortgage Resources
Lenders Are Required to Disclose Rate and Terms
The Homeownership and Equity Protection Act of 1994 was enacted to offer consumers protection regarding certain home-equity loans that may charge high interest rates and high fees. This act does not limit the finance charges or rates that may be imposed on such loans, but it requires lenders to offer several disclosures to potential borrowers making them fully aware of the the applicable loan terms.
Mortgage Resources
LIBOR Index
LIBOR is the rate on dollar-denominated deposits, also know as Eurodollars, traded between banks in London. The index is quoted for one month, three months, six months as well as one-year periods
Mortgage Resources
Mortgage Debt Consolidation
Debt consolidation is taking out a big loan to cover one or more smaller loans. In essence, you borrow an amount of money large enough to pay of the loans you have.
Mortgage Resources
Mortgage Interest Rate Buydowns
The most common buy down is the 2-1 buy down. In the past, for a buyer to secure a 2-1 buy down they would pay 3 points above current market points in order to pay a below market interest rate during the first two years of the loan. At the end of the two years they would then pay the old market rate for the remaining term
Mortgage Resources
Mortgage Pre-Approval Counts; Pre-Qualified Doesn't
Although some lenders hand out letters saying someone is pre-qualified, those letters usually are considered useless and a waste of time because they are based solely on the borrower's word rather than on verified fact.
Mortgage Resources
Mortgage Terminology Defined
I have complied a list of terms used in the Mortgage Industry and defined them for you.
Mortgage Resources
Mortgages for Landlords Differ from Single-Family Home Loans
Getting a mortgage to buy a single-family home is a complicated process. Getting one to buy a duplex, triplex or four-plex is harder, even if you plan to live there yourself.
Mortgage Resources
Negative Amortization Loans
Negitive amortization occurs when the monthly payments on a loan are insufficent to pay the interest accruing on the principal. The additional interest expense is added to the loan balance.
Mortgage Resources
New Construction and a Mortgage to Pay for It
Lenders know if you default on your monthly payments they can repossess the house, sell it, and get their money back. But what secures a home loan when the home is gone?
Mortgage Resources
Raising Credit Scores
Below, we have outlined the most important steps for raising your credit score. Good credit and a healthy credit score are very important. If you want to buy a house, a car or obtain a credit card, all investors will want to know your creditworthiness.
Mortgage Resources
Second Home Mortgages
Loan programs designed to help you take advantage of the equity in your home.
Mortgage Resources
Streamline Home Refinancing for FHA Mortgages
FHA has permitted streamline refinances on insured mortgages since the early 1980's
Mortgage Resources
Subprime Home Loans
Programs for those that have less than perfect credit.
Mortgage Resources
The Truth About Credit Inquiries
The Truth About Multiple Credit Inquiries; [FINAL Edition] Michelle Singletary. The Washington Post. Washington, D.C.: May 5, 2005. pg. E.03 Full Text (806 words) Copyright The Washington Post Company May 5, 2005 - Reprinted with Permission.
Mortgage Resources
Things to Know While Financing a Home
Don't make the mistake of rushing out to buy things to fill your new home as soon as the seller accepts your purchase offer and the lender pre-approves their loan.
Mortgage Resources
VA Home Loan for Veterans
Special programs available to those who qualify by military service.
|
