Rate Locks And How They Work
Remember, rates change all the time, and it can be one or two months between the time you apply for a loan and when your sale closes... and rates can have jumped in that time.A lock commits the lender to lend at a specified interest rate and points, provided the loan is closed within the specified ...
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Getting 100% Financing With Bad Credit - Is No Down Payment a Good Idea?
Getting 100% financing with bad credit can get you into a home with little out-of-pocket expense. However, higher rates will make the loan more expensive than financing with a down payment. There are some cases when zero down can be a benefit, especially if you plan to move or refinance soon.The ...
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Home Mortgages: Think Before You Borrow
In today's overheated housing market, lenders are making it easier and easier to get a mortgage. For example, some lenders have lowered the credit score needed to qualify for a mortgage. Others have increased the debt load that borrowers can carry or have made it easier for borrowers to get loans ...
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Home Mortgages: Does It Ever Make Sense to Pay Points?
Interest rates on home mortgages are often quoted with and without points. A point equals one percent of the amount you are financing. This means that on a $150,000 mortgage, one point is $1500.00 and two points would be $3,000. These points are in addition to whatever other closing costs you might ...
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5 Simple Steps for Serious Saving and Financial Growth
1) Pay off your loan, credit and store card debt and resist the temptation to keep on spending money you dont yet have.Credit cards and store cards attract the highest rates of interest and are the most inefficient way to work your finances. The average annual percentage rate (APR) for credit ...
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Subprime Mortgages Low Down Payments And No PMI
Sub-prime mortgages offer financing for those with poor credit to finance the purchase of a home. Todays sub-prime mortgages offer low down payment options with no private mortgage insurance (PMI). As a result, more people are finding it easier to buy a home.Sub-prime Mortgage OptionsSub-prime ...
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How to Utilize Your Cash Investment in Your Home
Have you ever noticed how hard it can be to get to the equity in your home?Recently I had a client come to my office who had quite a bit of equity in their home. Im not talking about $50,000 or even $200k, Im talking about over $250k. I was asked to get 80% out of their home so that they could ...
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Refinancing Your Home - How and Why?
Chances are you may need a little extra money to get some work done around the home or perhaps your current interest rate is 7.5% and the prime interest rate is 6.0% there is a benefit to restart the clock on an existing mortgage and save thousands of dollars over the life of the loan. The first ...
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Buying A Home With No Money Down or Bad Credit - PMI Can Make It Easier
Private mortgage insurance is an excellent method for homebuyers who have trouble saving money, are short on money, or have bad credit, to get into a home now. Private mortgage insurance is provided by a third party to protect the lender in the mortgage contract. This allows you to purchase a ...
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Home Equity Loans A Big Benefit Or A Big Mistake?
When the bills are piling up and there doesnt seem to be any way out, a home equity loan can seem like the answer to your prayers. Home equity loans can also be a great way to jumpstart a business or investment portfolio. However its important to realise that in some circumstances, a home equity ...
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Live Like A King Not A Pauper In Retirement
We all have choices in life, and we know that some choices we make affect not just us but our family and we also know that many choices we make today will affect us for the rest of our life.You have to make a choice about the quality of life you would like to enjoy in retirement and you have to ...
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Debt Relief From Debt Consolidation
If you are up to your neck in debt, there may seem like there is no relief in sight. In fact this is not necessarily the truth. There are ways to take all of your stifling bills and roll them up into one neat package by using debt consolidation in two very popular forms Home Equity Loans, ...
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10 Things You Shouldn't Do When You're Buying a Home
Home Buying Don'tsYour home buying process is well underway. The sellers accepted your offer to purchase. The home is officially under contract and you're counting down the days to closing. The lender pre-approved you, so buying the house is a sure thing, right?Not quite. Nothing is certain until ...
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Home Equity Line of Credit Pro and Cons
Home equity line of credit pro and cons are important if you decide to tap your equity in your home. Whether you are choosing a home equity loan vs equity line of credit, each loan is considered a second loan and is secured by your home.Here are some home equity line of credit pro and cons to ...
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The Real Truth About Those: Online Get a Better Loan Web Sites - 6 Things to Look For
You have seen the Commercials on TV go this or that web Site and Refinance your Home and Save thousands. Tempting isn't it? Do they really save you money?But what if you need help or Advice? What if you have questions? Can an online Internet Robot Design a Mortgage Plan customized for your ...
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