Fannie Mae and Freddie Mac Mortgage Loans - Conforming Loans Provide Low Interest Rates
Conforming loans provide low interest rates since they are almost guaranteed to be purchased by Fannie Mae or Freddie Mac, which allows more funds to be available for borrowers. However, these corporations have terms, such as maximum loan, that limit how much you can borrow. If you dont meet their ... more...

Reverse Mortgage Providing Peace of Mind Without Sacrificing Safety or Security
For many seniors one of their greatest sources of security is their home. It not only provides a comfortable and familiar environment, but it provides a sense of independence and a source of many fond memories. The equity in that home represents a financial nest egg and a legacy for them to pass ... more...

Real Estate Wealth Protection Through Short Sales
Is a sharp correction in store for the real estate market?Fannie Mae, the largest buyer of mortgages in the US, is worried. They recently warned that the probability of a housing bust has risen sharply in certain parts of the country.Fannie Mae and Freddie Mac financed about 43% of new home ... more...

Sub-Prime Mortgage Loan - How Sub-Prime Loans Differ from Conventional Loans
Sub-prime mortgage loans offer more flexibility than their conventional mortgage loan cousins. With terms determined by Freddie Mac and Fannie Mae, conventional loans have strict guidelines on loan amounts, terms, and PMI requirements. With sub-prime mortgages, lenders can provide more ... more...

Financing Houses
What Real Estate Lenders Look ForLenders control many programs -- some make use of over 200! Generally, lenders look for the following typical standards, with many exceptions:1. Absolutely no late mortgage payments 2. Credit score above 580 3. If bankruptcy, no charge-offs or collection accounts ... more...

Adjustable Rate Mortgage - How They Work?
How does an ARM work.The borrowers interest rate is determined initially by the cost of money and the time the loan is made. Once the rate has been set, and it is tied to one of several widely recognized and published indexes , and future interest adjustments are based on the upward an downward ... more...

Eight Common Predatory Lending Schemes
Predatory lending is far more prevalent in refinancing than in the purchase market. One reason is that buyers tend to look for mortgages from established and recognized lenders, many of whom are bound by rules put forth by Fannie Mae, FHA, or the Veterans Administration. If they don't follow the ... more...

Credit Scoring: What it is, and How It Affects You
If you have applied for a mortgage in the past five years, youve probably heard of credit scoring by now. Perhaps you were told that your credit scoring was wonderful, or needed work. Or maybe your mortgage would have been lowered by several points, if you had better credit scoring.Credit scoring ... more...

Types of Mortgage Loans The Basics
In the past, homebuyers more or less had limited mortgage loan options. These days, there are more options than you can shake a stick at, but heres a primer on the basics.Mortgage LoansWith the real estate market explosion over the last 10 years, a call has gone out for unique mortgage loan ... more...