10 Things Every First-Time Home Buyer Needs to Know before Purchasing a Home
Advantages of a Fixed Rate Mortgage
Thinking about buying your first home? It can be exciting, and it can be daunting at the same time. It’s a major decision, though, and should not be rushed into. Too many first-time home buyers end up learning lessons the hard way, and the 10 tips that follow can help ensure that you can avoid […]
Mortgage Payment Protection Insurance The Do’s And Don’ts
This is the most popular type of mortgage as the monthly payment for interest and principal remains fixed through out the mortgage term, Property Insurance and taxes may increase but the monthly repayment of the amount will be stable.
Mortgages. Exit Fees To Be Capped.
When you’ve taken out a mortgage you’ve make a long-term commitment to maintain the monthly repayments for the full duration of the mortgage. That’s going to be over many years but you’re making that commitment without the benefit of a crystal ball � no one knows how your circumstances are going to change, for good or bad. So that must represent a big risk. Mortgage Payment Protection Insurance (MPPI) is one of a range of insurances that includes life insurance and critical i…
How To Choose The Right Mortgage Calculator For Your Needs
In the last 3 to 5 years we have seen rises of up to 450% in the exit fees charged by lenders when borrowers redeem their mortgage. But at last the Financial Services Authority (FSA) ha seen the light and is going to crackdown on these increases.
Lenders have been telling new borrowers about the exit fees currently charged, but the lender has retained the right to increase those charges at any time and without advising borrowers. This amounts to a free hand to increase the…
Mortgage Calculators Confusion!
Hear about those people who, by adding $50 per month to their mortgage payment cut their loan in half? You can actually do that. Look on the web for a mortgage accelerator calculator.
To start with, a simple mortgage calculator is useful. They let you input the amount of the principal you will be borrowing, the current interest rate, and the number of years to pay off the loan. These calculate mortgage repayments as a fixed amount over a fixed time with a fixed interest r…
Issues To Consider When Refinancing a Mortgage
When you first start using a mortgage calculator such as Karl Jeacle’s Graphing calculator, you might easily get confused, especially if you are new to the world of buying property. The sliding scales on this calculator aren’t what some people are used to seeing.
Most people are used to typing their numbers into boxes with familiar features. But don’t be dazzled only by the graph, boxes are still available further down the page so that you can use numbers instead of the sc…
Full Documentaion Mortgages: Paperwork Needed
People looking to have some extra money often look to refinancing their mortgages. However, there are some things to know prior to considering this.
Looking For An Adjustable-Rate Mortgage ?
There are a variety of mortgage plans out there, many of which require full documentation on your part of your personal financial history. Let’s examine the typical documents you will need to provide to the mortgage company as you apply for a loan.
Cash Out Refinance – Things To Know About Refinancing Your Mortgage To Get Cash Out
An adjustable rate mortgage is called as ARM in short and it is a type of mortgage where the interest rate is linked with economic index, in this adjustable rate mortgage your payment and interest rate are adjusted accordingly when there is an ups and down in the changes of the index.
A cash-out mortgage allows you to refinance your mortgage and pull out part of your equity. Before deciding how much to cash to use, be aware of the impact of PMI and equity amounts. However, you may find the benefits of refinancing outweigh the costs.
Cash-Out Mortgage Basics
With a cash-out mortgage, you can refinance for lower rates or to just get part of your equity out. Once the refinancing process is completed, you will end up with a check. You can decide to take …