What Are Mortgage Brokers And Why To Use One
Mortgage is formed from two words: the French word mort meaning dead and the word gage from Old English meaning pledge. Sir Edward Coke (who lived from 1552 to 1634) explained the term: the land as considered dead to the mortgagor, as if the person never had it.Today, the term mortgage is used for ... more...

Home Mortgage Loans For People With Bad Credit
Getting a home loan with bad credit has actually never been easier than it is today. Here are some tips to help improve your chances of success:Find A Good Real Estate Deal If you can find a property that has some equity in it when you purchase it, you may have an easier time getting financing on ... more...

Is Your Credit Ready to Take on a Mortgage?
To help determine whether youre ready to take on a mortgage or not take a look at your finances. Two things that you really want to take a look at are your credit score and current debts. These two factors greatly determine how much home you can afford.Credit Scores.What determines a good credit ... more...

First Time Buyer Mortgage Key to your First Home
Living in a rented apartment since long. Ever thought of the disadvantages of staying as a tenant. Besides losing your freedom to the whims and fancy of the landlord, your hard earned money is going down the drains. Of course, to nourish the landlords finances; such that he is planning to buy a new ... more...

Private Mortgage Insurance (PMI)
If your down payment on a home is less than 20 percent of the appraised value or sale price, you must obtain private mortgage insurance, known as PMI, with your lender. This will enable you to obtain a mortgage with a lower down payment because your lender is now protected against any default on ... more...

Reverse Mortgage Providing Peace of Mind Without Sacrificing Safety or Security
For many seniors one of their greatest sources of security is their home. It not only provides a comfortable and familiar environment, but it provides a sense of independence and a source of many fond memories. The equity in that home represents a financial nest egg and a legacy for them to pass ... more...

How to Avoid Paying Mortgage Insurance
In today's world, a borrower should not be paying mortgage insurance (PMI) on their home mortgage with a few exceptions such as an FHA loan. Mortgage Insurance is a thing of the past.Lets first explain what mortgage insurance is. A lender requires a borrower to pay mortgage insurance if the loan ... more...

Short-Term Interest Rates on the Rise; Adjustable Rate Mortgage Holders Prepare for Increase in Rate
Interest rates are on the rise and many home owners who have adjustable rate mortgages may see increases in their forthcoming annual adjustments.Federal Reserve Chairman Alan Greenspan made it clear in 2004 that the Federal Reserve would be increasing short-term interest rates at a measured pace. ... more...

Option ARM The Worlds Most Dangerous Mortgage
Home prices have reached record levels, and in many parts of the country, homes have become nearly unaffordable. Real estate has replaced the tech stocks of the late 1990s as the hot investment, and everyone has sold their stocks and jumped into investment property. Real estate prices have ... more...

Shopping for A Mortgage? Do Your Homework First
If you happen to be shopping around for a mortgage, it is very important that you first take the necessary time to do your homework.When I say homework, I am talking about research. There are so many loan programs out there that it is easy to get lost in all of the mortgage jargon that people in ... more...

Home Mortgage Loans - Fixed Rate, Adjustable or Balloon, Which One Is Right For You?
When you're shopping for a new homeespecially for the first timeall the terms and expressions may be confusing and difficult to understand. Adjustable rate, fixed rate, balloon payment - how do you decide which is the right type of home mortgage for you if you're not even sure what each of them are ... more...

Mortgage Refinance with Bad Credit - The Pros and Cons
To many, the term 'bad credit' is the end of the world when it comes to getting financing in the near future. However, it doesn't always have to be like that, you can take the bad credit mortgage refinance option!Mortgage refinance vs. equity financeIt is essential at the outset that you understand ... more...

Zero Down Payment Mortgage Can It Be Done?
Ive been renting for years now; Ive always paid my rent on time. Ill start a savings account soon, so I can buy a house: sound familiar? How much is in that savings account now? Just as I thought, not enough, you went on vacation, found a car you had to have, or WOW; look at the flat panel T.V. ... more...