By: Frugal World Home Loans Views: 3220 | Comments: 0 | Votes: 0
Relative to the growth in home prices over the last few decades, Americans are earning less and therefore they are saving less. PMI is a financial guaranty that protects the lender against any loss in the event the borrower should default as well as allowing the borrower to make a lower down payment. Such mortgages are increasingly in demand in today's home market. More
By: Inman News Home Loans Views: 2070 | Comments: 0 | Votes: 0
NeighborWorks campaign generates $5.39 billion in new loansInman NewsA national campaign that seeks to bring home ownership within reach for low-income and moderate-income families has generated more than $5.39 billion in new mortgage lending from Jan. About 22 percent of the campaign's recent home buyers are African-American. 137. Reprinted with permission of Inman News More
By: Trmnotary Home Loans Views: 2074 | Comments: 1 | Votes: 0
What exactly is a "Rent-Back" offer, and when should they be used? In most real estate transactions, the buyer takes possession of the property at or shortly after closing. A rent-back is an offer made by the prospective buyer to allow the seller to remain in possession of the home for a longer period of time. More
By: WiseSaver Home Loans Views: 2236 | Comments: 0 | Votes: 0
Throughout the years, mortgage rates have varied by loan-to-value and by term only. Items such as mortgages and variation in credit risks were not taken into consideration. A variation in interest rates was typically due to an additional charge for mortgage insurance (PMI) for home loans with loan-to-values greater than 80 percent, or higher rates due to the length of amortization. More
By: Kenneth R. Harney Home Loans Views: 3778 | Comments: 0 | Votes: 0
Remember when you refinanced your home mortgage to get a lower interest rate and pay less every month?How quaint. And how utterly out of date. The 88 percent cash-out refinancing rate was close to the all-time record and could surpass it later this year.Meanwhile, the typical refinancer hasn't been scouring the market for an interest rate lower than that on his existing first mortgage. More
By: Kenneth R. Harney Home Loans Views: 3131 | Comments: 0 | Votes: 0
Home buyers and refinancers face higher fees for credit reports this year – a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or “thin” credit files. More
By: Art Of Saving Home Loans Views: 1878 | Comments: 0 | Votes: 0
Rent versus Buying in this market: Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price. Is there a "bubble"? The simple answer is "no". Even if interest rates move a bit higher, it won't be enough to cause a nationwide slide in home prices. The key to a healthy housing market is the job market. But is it too late? More
By: Art Of Saving Home Loans Views: 3295 | Comments: 0 | Votes: 0
A home equity line of credit means a homeowner can use his home as collateral for a loan. In other words, your home can be a source of credit to pay for education, purchase of a car, retirement plans or improvement of home. The bank or the institution will provide you the detailed information as to how you can make use of HELOC. Interest rates are subject to change now and then. More
By: Goldfish Home Loans Views: 3667 | Comments: 0 | Votes: 0
One of the popular ways to save money on mortgages is to use what is known as the biweekly mortgage payment plan. With the biweekly mortgage payment plan the borrower makes payments on his mortgage every two weeks, instead of once a month. The biweekly payment is one-half of the monthly payment. There is no doubt that this will save you money. This seems astounding! Doesn't it? More
By: Academix Home Loans Views: 3160 | Comments: 0 | Votes: 0
There has been a lot of talk about mortgage refinancing over the last couple of years. One thing that you need to bear squarely in mind when considering doing this is that you must be prepared to pay your costs at closing. This is very similar to what happened when you initially purchased your home. Any money owing for this service will usually be paid at the point of settlement. More
