|
|
|
|
|
|
|
Mortgage Questions to Ask Your Lender
Buying and financing a home today can be overwhelming. Here are some questions to ask your lender so that you can make informed decisions.
Are both fixed-rate and adjustable mortgage loans available? What is the interest rate?
How long can I "lock-in" the financing at the current interest rate?
Is a float down lock available in case rates drop after I have locked in?
What are the other fees a lender may charge me in conjunction with my loan?
Are funds for a second mortgage available?
On adjustable loans:
- How often will the interest rate be adjusted?
- Is there a maximum limit on each rate change?
- How often will the monthly payment be adjusted?
- Is there a ceiling on payment adjustments?
- Can the term of the loan be extended?
- What is the maximum rate that can be charged over the life of the loan?
- Is there any potential for negative amortization?
This involves extra charges for paying off the loan before maturity. About 80% of all loans in the United States are paid off early.
- What is the "grace" period? How late can a monthly payment be made before a late charge is assessed?
- What will happen if a payment is missed?
- If you sell your house, will the new buyer (if he/she qualifies) be able to assume your mortgage at the same interest rate?
- Do you have to pay "points" to get your new mortgage? Usually lenders charge points for the cost of giving you a mortgage loan. A "point" is 1% of the loan.
- Will the lender require mortgage insurance?
- Is the loan serviced locally or is the servicing sold?
- Ask for a written "good faith deposit".
Leanna Meyer is a Realtor with Re/Max Cross Country and can help you find Lewisville Texas Real Estate. Find homes for sale and area information for Flower Mound Texas, Lantana, and Dallas, TX. Free buyer and seller reports are available as well as a mortgage calculator, and other mortgage information.
Washington Times
SBWire (press release), WI - 18 hours ago
Westport, Connecticut based Mortgage Broker Don Caiati reveals mortgage refinancing secrets at a new web site that is full of free reports, a home buying ...
Refinancing suddenly booms Honolulu Advertiser
Lenders Backlogged By Refinancing Rush Washington Post
Low Mortgage Rates Bring Refinancing Boom MSNBC
Forbes - Modesto Beeall 24 news articles
Telegraph.co.uk
New York Times, United States - 10 hours ago
Of course, buying a home is a more lengthy process than simply calling up a mortgage broker to refinance, and activity typically slows during the holiday ...
Long-Term Mortgage Rate Falls Again Wall Street Journal
Banks' mortgage rates fall below 5% Boston Globe
Homeowners with good credit scores are poised to capitalize on ... Baltimore Sun
Scripps News - AHNall 96 news articles
Washington Times
Bloomberg - 20 hours ago
The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped to 1143.8 for the week ending Jan. ...
Mortgage rates fall to record low again Forbes
Freddie Mac: Benchmark mortgage rate continues to new low MarketWatch
Bold government action can solve housing crisis North Texas e-News
American Banker - Connecticut Postall 603 news articles
Stockton Record, CA - 4 hours ago
Under the Cardoza plan, the payment on that mortgage refinanced to 4 percent fixed rate would drop to $1194 a month. Contact reporter Bruce Spence at (209) ...
Reuters - Jan 7, 2009
The jump in applications during December may have been driven by homeowners already "on the fence" and prepared to refinance on a drop in mortgage rates, ...
Mortgage applications down in latest survey Forbes
Week-to-week mortgage applications down 8.2% MarketWatch
Fewer apply for home loans; credit line delinquencies increase Los Angeles Times
KVOA.com - Kansas City Starall 63 news articles
Boston Globe
Bloomberg - 6 hours ago
... to purchase or refinance homes,” Rosengren said. The average rate on a 30-year fixed-rate mortgage dropped for a 10th week to 5.01 percent yesterday, ...
Rosengren sees path to recovery Boston Globe
Fed's Rosengren says recession more severe than thought Reuters
all 52 news articles
Los Angeles Times
Wall Street Journal - 11 hours ago
"Despite efforts by Congress to address this issue, not enough lenders have come to the table to help borrowers with bad mortgages refinance into new, ...
Citigroup reaches agreement with key senators on mortgage ... Minneapolis Star Tribune
Citigroup agrees to allow judges to help modify some mortgages IdahoStatesman.com
all 562 news articles
TopNews
Boston Herald, United States - Jan 1, 2009
If I refinance the mortgage on my current house, will I hurt my chances for getting a loan for a new place later on? A: No. Refinancing a loan shouldn’t ...
MORTGAGES: 30-year Mortgage Rate Falls For Ninth Straight Week To ... CNNMoney.com
Mortgage Rates Hit 37-Year Low Poynter.org
Home-Mortgage Rates' Next Stop: Below 5% Wall Street Journal
Ventura County Star - Wall Street Journalall 457 news articles
Plano Star Courier, TX - 17 hours ago
“Quite a few people have remortgaged,” said Craig Jarrell, loan officer with Pulaski Mortgage. “Most people who refinance are new homeowners as recent as ...
Cincinnati.com, OH - Jan 3, 2009
... 2009 With US mortgage rates the lowest in 30 years, local lenders say they've seen a strong surge in loan applications as homeowners seek to refinance ...
Waco banks seeing a boom in mortgage refinance applications Waco Tribune Herald
Borrowers seeking to refinance may face challenges WTOP
As mortgage rates slide, refinancing applications take off Dallas Morning News
all 15 news articles
Looking for a Bad Credit Home Improvement Loan
To make needed repairs to your home without the advantage of a good credit history often requires a bad credit home improvement loan.This loan, designed for people... Read More
Cash Out Refinance Mortgage Loans ? Home Equity, 2nd Mortgage or Cash Out Refinance Loan
There are some definite benefits to doing a cash out refinance. Just make sure that overall you are not going to be spending more money in fees... Read More
Some of the Available Loan Types
There are many mortgage products available on the market today. We can help you find out which one is right for you. Here are the most common... Read More
Refinance Your Property Online
By refinancing your property online you can take advantage of competitive rates in the convenience of your home. You should consider refinancing your property if interest rates... Read More
Remortgages Guide
Outlined below is a useful remortgages guide. Remortgaging has become increasingly popular due to the relatively simple and flexible process.A remortgage is exactly as the name suggests,... Read More
Mortgage Clarksville - Find the Best Deal
Searching for a mortgage can sometimes be a hassle. Where to apply, who to apply with, what deal to take. These are all questions you may be... Read More
How Not To Be Ripped Off By Mortgage Brokers
One of the things that bothers me about the mortgage industry is the number of unscrupulous brokers that operate in this market.Talk about giving the industry a... Read More
Mortgage Questions to Ask Your Lender
Buying and financing a home today can be overwhelming. Here are some questions to ask your lender so that you can make informed decisions.Are both fixed-rate and... Read More
Which is Better? Fixed-Rate or Adjustable-Rate Mortgages
The answer depends on several factors including your financial situation. Lets take a look at the main differences between the two types of mortgages.Fixed Rate MortgageTwo major... Read More
Little Known Secret: Eliminate your Mortgage in 23 years or less!
Wanna know a little secret? There is an ingenious method you can use, to pay off your 30 year fixed rate loan, in 23 years or less.... Read More
What is a Mortgage?
A mortgage is a loan, usually from a bank, finance company or building society to help you buy your home.A mortgage is a loan, from a bank... Read More
Bad Credit? With Poor Credit You Can Still Refinance Or Get A Home Equity Line Of Credit
Have you decided to refinance your home or apply for a home equity line of credit but worry about your credit rating? Even with poor credit it... Read More
Revive Mortgage Tenure With Extend Loan Term Remortgage
You are comfortably wedged in a mortgage deal, paying the standard rate of interests year after year. You are most in all probability paying more than required... Read More
Mortgage Information for the First Time Homebuyer
Inflation in the United States is increasing rapidly and home prices are soaring! There are millions of american families that are unaware of the many mortgage programs... Read More
Thought You Can Go All Alone In Mortgages! Mortgage Advice Beneficial In All Important Decisions
Mortgages are easy as long as you understand them well. But how many borrowers can be confident of their knowledge of mortgages.With the list of terms and... Read More
Homeowner Loans ? Drawing Lessons of the Past
Loans are not of a recent origin. People used to take help from others even at times when money was unseen and barter was the mode of... Read More
Online Mortgages in 5 Easy Steps!
We're all entitled to the opportunities and benefits of home ownership. But because most of us aren't loaded with cash, we must find banks and lenders to... Read More
Selecting the Right Mortgage for You
A mortgage is a loan you take out to buy a home. This loan covers the "principal" (purchase price of the house minus your down payment) plus... Read More
Finding the Best Mortgage Lender Online
Finding the best mortgage lender online is simply a matter of doing some smart shopping. Begin by gathering your financial information, and then request quotes from several... Read More
Buying a Home With Bad Credit - Why a Recent Bankruptcy Will Not Stop You From Getting Approved
Buying a home with bad credit is possible with the help of a subprime lender even if you have a recent bankruptcy or foreclosure. These mortgage lenders... Read More
Home Equity Loans ? Research Your Lender Carefully
Real estate prices are rising across the country, and Americans are tapping into their home equity like never before. Americans took out $431 billion in home equity... Read More
How easy is it to get a Commercial Mortgage in the UK?
As is the case when applying for any mortgage, be it a residential or a commercial mortgage, the better your credit and the better the collateral, the... Read More
Remortgage Serves To Rewind The Reimbursements Of Mortgage
It takes a mighty big effort to secure a home and even mightier to convert it into an earning member. Can a home be converted into an... Read More
Basic Tips for First Time Home Buyers
The first time you purchase a home is an exciting experience. You are anxious to call the place yours and maybe a little worried about how the... Read More
Mortgage Basics for First Time Home Buyers
Anyone planning to take out a mortgage for the first time will most likely find the job a little daunting, not least because the financial jargon can... Read More
Mortgage Refinance - Tips to Help You Cut Fees and Costs
Saving money through a mortgage refi is more than just finding the lowest interest rates. You can further cut fees and costs through the structure of your... Read More
5 Tips for Savvy Use of Your Home Equity Line of Credit
Tapping your home's equity to pay college expenses, consolidate credit card debt or even to buy a new car or boat is common place. Many economists attribute... Read More
Refinance Mortgage Rate and Mortgage Rates
Refinance mortgage rate is the best rate available to qualified homeowners for refinancing their current home mortgage. Refinance mortgage rates vary from product to product and customer... Read More
Bad Credit Home Loans
There was a time that seems like decades ago when people with less than pristine credit were not able to get home loans. At that time people... Read More
Home Equity Loan ? Still a Better Idea Than a 401(K) Loan
Anyone who borrows money is always looking for the cheapest source of funding. That makes sense; no one wants to pay more in interest than is absolutely... Read More
Online Mortgage Loan Companies Are Convenient
There are many reasons to use the internet to take care of your mortgage loan needs. Online mortgage companies can give you quick answers to your mortgage... Read More
Free Home Equity Loan Information
Home equity loan information can sometimes be confusing and misleading. I have written this article to properly explain home equity loans. Basically equity is the difference between... Read More
Finding the Online Homeowner Loans You Want
Online homeowner loans have been growing in popularity in recent years, blossoming into a new industry of online lenders and new opportunities for homeowners who find themselves... Read More
How to Get the Best Mortgage
This is a guide on how to get the best mortgage deal. Do not rush into the first offer that is made to you even if you... Read More
How to Find a Good Online Homeowner Loan
A quickly growing trend in lending is the online homeowner loan. This loan uses the equity that you have in your home to secure the loan amount,... Read More
Home Equity ? Let the Market Eliminate Your Private Mortgage Insurance
In decades past, most people who were interested in obtaining a home loan were required to put down at least 20% of the purchase price. Those days... Read More
How to Find a Direct Homeowner Loan
If you've been thinking about applying for a direct homeowner loan, you might want to take a little bit of time to make sure that you understand... Read More
First Time Buyer Home Loans - Things To Consider When Applying Online
As a first time home buyer, there are several things you should consider when applying for a loan online. First, do you know what type of loan... Read More
Interest Only Home Loan ? Is It Right For You?
There are many benefits to interest-only mortgage loans. There are many situations where an interest-only mortgage loan could be best for you.Here are some of the situations... Read More
Money Smart Homeowners Use this Mortgage Strategy Every Time
There are currently more than 50 million home mortgages in the United States today. So why aren't more homeowners taking advantage of the highest yielding lowest risk,... Read More
Home Mortgages: Up, Up and Away!
Refinance NOW-before it's too lateIf you haven't found the time to refinance your existing home mortgage, it's time to take action-like yesterday! Every time Alan Greenspan, Federal... Read More
Guide to Interest Only Mortgages
Here is a useful guide to interest only mortgages. An interest only mortgage is one where your regular payments only go to pay off the interest on... Read More
Top 5 Methods to Manage Your Home Equity
As your home appreciates in value, you gain equity. You can look at this equity, as a portion of the value of your home, which becomes an... Read More
Home Mortgage Refinancing ? What?s in Your Contract?
Are you one of the millions of Americans who will be refinancing their home mortgage loan this year? When you sign your contract and the other papers... Read More
Council Right to Buy Mortgage ? Helping Everyone Have a Home of
"We will help every Council Tenant to become Home Owners" With these historic words Margaret Thatcher initiated an equally historic concept of council right to buy scheme.... Read More
Are You A Victim Of A Predatory Mortgage Foreclosure?
Help is available to borrowers who have claims against their lenders for violating the Truth in Lending Act and other laws regulating credit transactions. Such violations may... Read More
FHA Mortgage: Whats the Best Way to Show an Underwriter that Youre Ready to Buy a House?
Mortgage underwriters can be a suspicious bunch. If you have bruised or even bad credit, you have your work cut out for you. Many loan programs have... Read More
Home Loan Confusion Continues
Unfortunately, most Americans still do not understand how home loans work and how to take advantage of the wide array of programs available. The way I see... Read More
Mortgage ? What, Why, When, and How?
What is a mortgage? Here's what The New Merriam ? Webster Dictionary definition is: "a transfer of rights to a piece of property usu. as security for... Read More
Home Equity Loans - How To Use Your Homes Equity to Consolidate Debt
If you've got a wallet full of credit cards, and monthly payments on them that total more than 25% of your monthly income, chances are that you've... Read More
California Refinance - Refinancing in California
The real estate market in California is booming. Home values continue to appreciate almost on a daily basis. Refinancing your home is an excellent way to take... Read More
6 Things to Consider Before Refinancing
Perhaps you're a homeowner in need of some quick cash.Maybe you want to consolidate your debts so you have better control of your money.Perhaps a lender is... Read More