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Mortgage Professor about refinance calculate: | |||||||||||||||||||||||
Lies Mortgage Shoppers Hear
December 2, 2002, Revised July 16, 2004 "I am about to shop the market for the mortgage I need to finance my home purchase. Is there a danger that people won?t tell me the truth? Any lies I should look out for in particular ... more... Is a Balloon Loan Better Than an Adjustable Rate Mortgage? May 4, 1998 "I have been offered a 5-year balloon loan at 6.5% and zero points, and a 5-year ARM [adjustable rate mortgage] at 6.125% and zero points. Is there any reason why I should not choose the ARM?" No reason, provided you confidently expect to be out of ... more... |
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refinance calculate related definitions |
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Refinance
Refinance Refinancing refers to applying for a mortgage loan intended to replace an existing loan secured by the property. Homeowners usually consider refinancing for the purpose of getting a better interest rate, loan term, or to draw cash from the equity. ... more... Wraparound Mortgage Wraparound Mortgage Mortgage Loan which provides a buyer with the amount of the remaining balance on a seller's mortgage plus an additional amount which is requested by seller as part of the contract of sale. Payments are made to the lender who holds the wraparound loan. ... more... |
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