Category: Home Mortgage

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Persons with bad credit will have a difficult time getting a mortgage. However, it is not impossible. Today their exists bad credit mortgage lenders. These mortgage companies specialize in offering persons with a bad credit score or low income a bad credit mortgage loan. A bad credit loan comes with a higher rate of interest due to the fact […]

A SECOND MORTGAGE CAN BE A SOURCE OF CASH The fact that you own a home tells lenders that you are taking steps in securing a strong financial future. However, even the best of homeowners can fall into financial hardships and need to tap into their home as a source of cash. A second mortgage can assist […]