The Truth About Reverse Mortgages
Mortgage Borrowing Tip – Length of Loan
In a “regular” mortgage, you make monthly payments to the lender. However, with a “reverse” mortgage, you, the homeowner, receive money FROM the lender and, generally, you don’t have to pay it back for as long as you live in your home. Instead, the loan is repaid when you die, you sell your home or you no longer live in it as your principal residence. Reverse mortgages are ideal for homeowners who have high value in their homes but are lacking in available cash, or income! It allows you to stay in your home and still meet your financial obligations!
Option Arm Mortgage Loans: How do they work?
When borrowing money for a mortgage, homebuyers are primarily concerned with simply qualifying. Still, paying attention to the length of the loan is a borrowing tip that can save you a ton of money.
Adjustable Rate Mortgages Interest Rate Strategy
Learn how to set up a pay option arm mortgage loan to get the maximum benefits.
Is a Home Equity Loan Right For You?
Over the last few years, many people squeezed into new homes using adjustable rate mortgages. With interest rates going up, you now need a new interest rate strategy
Alabama Mortgage – What to Expect When Buying a Home in Alabama
Home equity loans are a quick and easy way to tap into the equity you have saved in your home. Savvy homeowners can save a lot of money by shopping from a variety of lenders; however, you need to understand the risks associated with home equity loans and consider alternatives such as a second mortgage before diving in.
Mortgage Terms and Definitions
Maybe you�re buying your first home in Alabama, or perhaps you�re relocating to Alabama from another state. Either way, it�s important that you educate yourself on Alabama home loans before shopping for a home and mortgage. This article explains what you�ll need to know before buying a home in Alabama.
Is The 50-Year Mortgage For You?
The mortgage process can be a little confusing if you aren’t familiar with the terms used in the process. To help you out, here is a list of terms with corresponding mortgage definitions.
Home Refinance Closing Costs – Things You Should Know
During the past few weeks several mortgage lenders have announced that they will now offer 50-year mortgages. This is a curious idea, but not as curious as it could be: At the height of the real estate boom in Japan some homes were financed with 100-year mortgages.
FHA Secured Loans
Home refinancing closing costs should be consider before signing a contract. You can actually lose money on closing costs if you aren�t careful. Shopping lenders can help you find lower fees, but you may find other financing options have lower costs.
Length Of Time To Recoup Costs
While the general rule of thumb is to keep a loan for two years to recoup closing costs, it isn�t a hard fast rule. For one, if you only have five years left on your loan, then refinancing won…
Information on FHA Secured Loans