Mortgage Articles
What Is a Mortgage Payment?
A monthly mortgage payment is an amount that's paid on a mortgage loan each month. . Depending on whether you have a fixed or adjustable rate mortgage (ARM), your mortgage payment may be set to a specific amount each month, or it may adjust periodically based on market...
A monthly mortgage payment is an amount that's paid on a mortgage loan each month. . Depending on whether you have a fixed or adjustable rate mortgage (ARM), your mortgage payment may be set to a specific amount each month, or it may adjust periodically based on market...
Should I Pay Off My Mortgage Early?
Most homeowners dream of owning a house and being able to stop making mortgage payments. In fact, most homeowners have dreamed paying off their mortgages early. Even making one extra payment per year on a $200,000 mortgage could save upwards of $65,000 in the long run. . The...
Most homeowners dream of owning a house and being able to stop making mortgage payments. In fact, most homeowners have dreamed paying off their mortgages early. Even making one extra payment per year on a $200,000 mortgage could save upwards of $65,000 in the long run. . The...
What Happens if I Miss a Mortgage Payment?
Worried you might miss a mortgage payment? Perhaps you are facing a temporary financial hardship or an unexpected event, such as a job loss or serious illness.. Contact your mortgage lender immediately to discuss your repayment options.. Whether you have already missed one...
Worried you might miss a mortgage payment? Perhaps you are facing a temporary financial hardship or an unexpected event, such as a job loss or serious illness.. Contact your mortgage lender immediately to discuss your repayment options.. Whether you have already missed one...
How to Transfer a Mortgage
A mortgage transfer is defined as a transaction in which the borrower, or lender, assigns an existing mortgage to another person or entity. If a mortgage can be transferred, it is referred to as “assumable".. Assumable mortgages fade in and out of popularity...
A mortgage transfer is defined as a transaction in which the borrower, or lender, assigns an existing mortgage to another person or entity. If a mortgage can be transferred, it is referred to as “assumable".. Assumable mortgages fade in and out of popularity...
Mortgage Glossary
Please click on the letter below to skip to the definition of the word you are looking for.. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z. 1003 Uniform Residential Loan Application.. A & D LOAN Acquisition and development loan- a loan for the purchase of raw land for the purpose development.....
Please click on the letter below to skip to the definition of the word you are looking for.. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z. 1003 Uniform Residential Loan Application.. A & D LOAN Acquisition and development loan- a loan for the purchase of raw land for the purpose development.....
How Can I Qualify for the Mortgage Tax Deduction?
The mortgage tax deduction is one of the biggest benefits of buying a home since you can deduct the interest paid on your mortgage. The interest deduction is defined by any interest you pay on a loan that is secured by the main home or second home.. Interest can be deducted on up to one...
The mortgage tax deduction is one of the biggest benefits of buying a home since you can deduct the interest paid on your mortgage. The interest deduction is defined by any interest you pay on a loan that is secured by the main home or second home.. Interest can be deducted on up to one...
3 Things You Should Know Before You Switch Mortgage Lenders
Are you considering switching or trading mortgage lenders? You're not alone. Many homeowners decide to refinance their existing mortgage using a different mortgage lender. . Often, switching to a new mortgage lender means lower mortgage rates and more favorable...
Are you considering switching or trading mortgage lenders? You're not alone. Many homeowners decide to refinance their existing mortgage using a different mortgage lender. . Often, switching to a new mortgage lender means lower mortgage rates and more favorable...
What Is Joint Tenancy?
Ever thought buying a home was out of your reach? Ever wanted to invest money somewhere, but would prefer to dip your foot into the pool to test the waters instead of diving in head first? If so, Joint Tenancy is a viable option for anyone looking to buy a home without taking the...
Ever thought buying a home was out of your reach? Ever wanted to invest money somewhere, but would prefer to dip your foot into the pool to test the waters instead of diving in head first? If so, Joint Tenancy is a viable option for anyone looking to buy a home without taking the...
Online Mortgage Services to Get You the Best Home Loans
Purchasing and financing your home is perhaps the most important factor in the success of your financial portfolio. A house is more than just a financial investment, especially when it is also your primary residence. . In today's uncertain environment, it is more...
Purchasing and financing your home is perhaps the most important factor in the success of your financial portfolio. A house is more than just a financial investment, especially when it is also your primary residence. . In today's uncertain environment, it is more...
Mortgage Banking Specialty Programs in New York
New York Streamline Refinance Options for FHA and VA LoansStreamline refinance is the best option for you if want to approve your loan with the minimum documentation and underwriting process, if you already have a VA or FHA guaranteed loan. This refinancing is usually the...
New York Streamline Refinance Options for FHA and VA LoansStreamline refinance is the best option for you if want to approve your loan with the minimum documentation and underwriting process, if you already have a VA or FHA guaranteed loan. This refinancing is usually the...
Mortgage Terminology
Acceleration ClauseThis mortgage contract clause will require repayment of the loan's principal and interest (i.e., the full loan amount) upon default. "Default" is any type of breach.. Adjustable-Rate Mortgage (ARM)An adjustable-rate mortgage comes at a...
Acceleration ClauseThis mortgage contract clause will require repayment of the loan's principal and interest (i.e., the full loan amount) upon default. "Default" is any type of breach.. Adjustable-Rate Mortgage (ARM)An adjustable-rate mortgage comes at a...
Available Home Loan Options
30-Year Fixed Rate Mortgage: A 30-year fixed rate mortgage gives you the security of always knowing what your loan payments will be. . 30-year FRM's are usually the best choice when you are planning on staying in your home for a long time and have a set income rather...
30-Year Fixed Rate Mortgage: A 30-year fixed rate mortgage gives you the security of always knowing what your loan payments will be. . 30-year FRM's are usually the best choice when you are planning on staying in your home for a long time and have a set income rather...
Overview of the Mortgage Loan Process
The first step in obtaining a mortgage loan is to determine a reasonable amount of money that you can borrow. You will be able to do this with a pre-approval from your lender. Most Realtors will want you to be pre-approved before they start providing you with listings or showing...
The first step in obtaining a mortgage loan is to determine a reasonable amount of money that you can borrow. You will be able to do this with a pre-approval from your lender. Most Realtors will want you to be pre-approved before they start providing you with listings or showing...
Joint Mortgage Versus Joint Ownership
Joint mortgages can provide prospective homebuyers with the access to much more funding for a home mortgage than a traditional mortgage loan. However, joint ownership does not necessarily mean that the borrowers each share ownership of the property. . If you are...
Joint mortgages can provide prospective homebuyers with the access to much more funding for a home mortgage than a traditional mortgage loan. However, joint ownership does not necessarily mean that the borrowers each share ownership of the property. . If you are...
Tax Advice for First Time Home Buyers
Although things can seem a tad overwhelming during tax time, this is a great opportunity to learn more about the various tax write-offs that may ease the financial burden of owning a home.. Mortgage Interest Tax DeductionThe most significant tax deduction for most homeowners...
Although things can seem a tad overwhelming during tax time, this is a great opportunity to learn more about the various tax write-offs that may ease the financial burden of owning a home.. Mortgage Interest Tax DeductionThe most significant tax deduction for most homeowners...
Benefits of FHA Mortgage Loans
An FHA mortgage can save you a lot of money on your home purchase and get you into a new home that much faster. Here's a brief recap of some of the most rewarding FHA loan benefits and what it has to offer. . Easier Qualification RequirementsThe biggest...
An FHA mortgage can save you a lot of money on your home purchase and get you into a new home that much faster. Here's a brief recap of some of the most rewarding FHA loan benefits and what it has to offer. . Easier Qualification RequirementsThe biggest...
Debt Forgiveness for Mortgages
Many borrowers saw their homes foreclosed due to the loss of equity in their homes and inability to continue making mortgage payments. For these borrowers and others who were forced to restructure their mortgages, the Mortgage Forgiveness Debt Relief Act of 2007 provides...
Many borrowers saw their homes foreclosed due to the loss of equity in their homes and inability to continue making mortgage payments. For these borrowers and others who were forced to restructure their mortgages, the Mortgage Forgiveness Debt Relief Act of 2007 provides...
Is a Mortgage Worth the Debt?
Most people are not affected by admitting to auto loan debt, though many are uncomfortable discussing credit card debt. Real estate debt has typically been regarded as a good debt, due to both the necessity of this debt for home ownership and also due to it being so customary.....
Most people are not affected by admitting to auto loan debt, though many are uncomfortable discussing credit card debt. Real estate debt has typically been regarded as a good debt, due to both the necessity of this debt for home ownership and also due to it being so customary.....
How to Pay Off a Mortgage Early
This article will cover four ways to pay off a mortgage early, beginning with the simplest solution and ending with the most complicated solution. All these strategies can be beneficial when correctly utilized, but each method varies in risk and feasibility,...
This article will cover four ways to pay off a mortgage early, beginning with the simplest solution and ending with the most complicated solution. All these strategies can be beneficial when correctly utilized, but each method varies in risk and feasibility,...
Commercial Real Estate Loan Eligibility
If you want to secure a commercial loan to purchase real estate, you'll have to convince your lender that you're a worthwhile credit risk. This is true whether you need property for business or investment purposes.. Commercial real estate is a very competitive...
If you want to secure a commercial loan to purchase real estate, you'll have to convince your lender that you're a worthwhile credit risk. This is true whether you need property for business or investment purposes.. Commercial real estate is a very competitive...
Flat Pack Homes: What Are They?
Lender 411 answers the top questions about flat pack homes and their pros and cons here. 1. What exactly is a flat pack home?. Flat pack homes general, come with everything you need for a typical house: everything from floors, walls, and ceilings to lighting fixtures, cabinets,...
Lender 411 answers the top questions about flat pack homes and their pros and cons here. 1. What exactly is a flat pack home?. Flat pack homes general, come with everything you need for a typical house: everything from floors, walls, and ceilings to lighting fixtures, cabinets,...
What is Fannie Mae?
Fannie Mae is considered a (GSE) government sponsored enterprise, and its intentions are to purchase mortgages from lenders to sell them at lower costs. This process, called securitizing, intends to assist the housing market in regaining strength. . The concept is...
Fannie Mae is considered a (GSE) government sponsored enterprise, and its intentions are to purchase mortgages from lenders to sell them at lower costs. This process, called securitizing, intends to assist the housing market in regaining strength. . The concept is...
How Much Mortgage Can I Borrow?
Save yourself time and stress by asking yourself: How much can I borrow? Answering this question will ensure that you're looking at the right home price range. Mortgage calculators, such as the ones you'll find here, are extremely helpful in estimating how...
Save yourself time and stress by asking yourself: How much can I borrow? Answering this question will ensure that you're looking at the right home price range. Mortgage calculators, such as the ones you'll find here, are extremely helpful in estimating how...
Mortgage Loan Pre-Approval: Why Do You Need It?
There are some items to consider when you apply for a mortgage loan as this will affect your lifestyle and your finances for many years to come. The right mortgage package will meet your needs and provide you with the lowest mortgage rates available. However, a...
There are some items to consider when you apply for a mortgage loan as this will affect your lifestyle and your finances for many years to come. The right mortgage package will meet your needs and provide you with the lowest mortgage rates available. However, a...
Why the Mortgage Interest Deduction should be Eliminated
The fiscal-cliff decision that was reached on New Year’s Day dramatically changed existing tax laws and applied tax breaks for most taxpayers. The lawmakers have always considered eliminating the mortgage interest deduction to become a source of revenue....
The fiscal-cliff decision that was reached on New Year’s Day dramatically changed existing tax laws and applied tax breaks for most taxpayers. The lawmakers have always considered eliminating the mortgage interest deduction to become a source of revenue....
The 5 New Mortgage and Housing Trends for Summer 2013
A record-high number of buyers are going to be looking for homes in the late spring/early summertime months, thanks to low mortgage rates. Sellers have a lot to look forward to as home inventory continues to shrink. Here are some other significant trends to know...
A record-high number of buyers are going to be looking for homes in the late spring/early summertime months, thanks to low mortgage rates. Sellers have a lot to look forward to as home inventory continues to shrink. Here are some other significant trends to know...
US Mortgage Applications Down
The amount of United States mortgage applications decreased for the second week in a row, falling 2.7% as consumers avoided purchasing both new homes and refinancing options.. The refinance index from the Mortgage bankers association, which is a measure of refinancing...
The amount of United States mortgage applications decreased for the second week in a row, falling 2.7% as consumers avoided purchasing both new homes and refinancing options.. The refinance index from the Mortgage bankers association, which is a measure of refinancing...
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