Author: FinancingAndMortgage.com
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15 vs 30 Years Mortgage
Mortgage Amount Your Marginal Tax Rate % 15 Year Loan Rate % 30 Year Loan Rate %
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USING HOME EQUITY AS A SOURCE FOR A LINE OF CREDIT
A home equity line of credit with a low interest rate is the best of loans for those in need of cash quickly. A home equity line of credit offers the borrows the ability to cash in on what is available to them due to diligently making mortgage payments. If you have been in your house for a […]
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KNOW THE FACTS ABOUT A HOME EQUITY LOAN
A home equity loan permits a homeowner to secure funds by accessing the equity within their property. The proceeds of this loan can be used in any manner the homeowner chooses, such as to pay off debt or for home improvements. The amount available is determined by the equity that has been vested in the property due to mortgage […]
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THE BASICS OF THE HOME IMPROVEMENT LOAN
Home improvement loans are a loan you take to finance improvements to your house or property that otherwise you may not be able to afford. Many times these home improvements are big-ticket items such as a finished basement, a new kitchen or possibly a swimming pool or extra garage. Your home will appreciate greatly with any […]
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IS AN INTEREST ONLY MORTGAGE IN YOUR FUTURE?
With an interest only mortgage loan you are basically taking on a loan that will not decrease in principal as your payments are applied only to the interest that has accrued on the loan. An interest only mortgage loan is smart for homeowners who are aggressive in saving or people that are involved with high returns on […]
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REFINANCING YOUR HOME MORTGAGE
Refinancing your home is an fiscally smart move if it enables you to lower your interest rate. A perfect example of this is if the interest rate has dropped since you took out your original mortgage. Or, if you want to convert your adjustable rate mortgage to a fined interest rate mortgage. The proceeds from this new loan […]
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YOUR MORTGAGE LENDER IS YOUR FRIEND
A mortgage lender is a company who advances funds to individuals for the purpose of purchasing real estate. Mortgage lenders can be banks, credit unions, a mortgage company, a mortgage broker or an organization that meets the strict guidelines to offer home mortgage loans. Competition between mortgage lenders is fierce and interest rate and fees are different from […]
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JUMBO MORTGAGES ARE FOR HIGH PRICED HOMES
Jumbo mortgages are the types of loans associated with exceptionally high priced homes and, subsequently, also carry higher interest rates. A jumbo mortgage differs from traditional home mortgages only due to the amount borrowed to purchase the home. Mortgages that fall under a certain amount, known as a cap, can be received from lenders after going through the […]
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THE FHA HAS PROVIDED HOUSING OPPORTUNITIES FOR MANY
The FHA, Federal Housing Administration, an arm of the United States government has afforded home ownership opportunities to thousands of people since the 1930’s. FHA loans are loans that are available for purchasing or refinancing a home. The FHA insures the lender that the home mortgage loan will be paid for, this reducing their risk when dealing with persons with […]
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COMMERCIAL MORTGAGES
A commercial mortgage is used to finance commercial property. The property may have a residence or residences housed within it, such as an apartment building, however the mortgage for this type of property is a commercial mortgage as opposed to a residential mortgage. To obtain a real estate loan of this type you will need to find a lender […]