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Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more...

HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US.  As usual, the proposals were open for comment, and many thousands of them were received.  Mine was among them, and is shown ... more...

first home related definitions

American Dream Downpayment Initiative
American Dream Downpayment Initiative The American Dream Downpayment Initiative (ADDI) aims to increase the homeownership rate, especially among lower income and minority households. ADDI help first-time homebuyers with downpayment and closing costs. The program assists low-income ... more...

Buy-Down
Buy-Down When the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires. ... more...

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Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Buy or Sell First?
When it comes to home buying, the ideal situation would be to find a new home, just as you receive an offer on your existing home. You would then be able to close concurrently and move into your new home a few days prior to closing on your previous home. This does happen more often than not, but ... more...

Some Things To Remember While Buying A House For The First Time
With the rise in prices of property, owning a property is going further out of the reach of many first-time buyers. Owning a home is considered a daunting task, requiring loads of money which first time buyers often are unable to shell out. But to accomplish this daunting task there is a ... more...

The Truth About Shopping for Mortgage Rates
With so much lender advertising focusing just on rates, you may not be aware of the importance in choosing an experienced, reliable loan professional who can match you with the appropriate loan program. Good loan officers and mortgage brokers may quote todays rate when asked, but they will quickly ... more...

Zero Down Mortgage Loans - First Time Home Buyer Loan Programs
Because of a larger variety of mortgage loans available, first time home buyers may become easily overwhelmed with the home buying process. Understandably, those entering the housing market may not know which loan program best fits their needs. Working with a mortgage broker is helpful. They can ... more...

How I Became a Real Estate Investor
Recently I closed on the sale of two homes. They were located about a mile apart and had comparable market values. However, beyond these two similarities, the two deals were very different from each other. Let me discuss in more detail the similarities and differences of the two deals.My business ... more...

Mortgage Info You Can Actually Understand!
This is a great time to Refinance Your Home or Buy a New Home -- the Mortgage Rates are so low, these days! It's always worth a shot to find out what the costs of switching over to a new mortgage would be, to see if that's the right move for you.Whether you are building your own house, buying a new ... more...

Bad Credit? First Time Buyer? You Can Still Get Approved For A Home Mortgage Loan
Do you have bad credit that you worry will stop you from being able to apply for a home mortgage loan? Have you given up on the dream of being a home owner? Well dont. Take comfort in the fact that there are special home mortgage loans that you can apply for, that will make sure your dreams of ... more...

First Time Home Buyer Loans Made Easy
When it comes to firsttime home buyer loans, a little research can save you thousands of dollars over the life of your mortgage.A wise consumer selects a mortgage lender prior to shopping for a home. You see, firsttime home buyer loans can end up costing you a lot more than you bargained for if you ... more...

11 Steps Away From Buying a Home
There is no doubt that the market for houses has been on fire recently. More and more people are taking advantage of low interest rates and easy mortgage loan terms to go from being renters to being home owners. With so many people entering the market, it is inevitable that questions will arise ... more...

Mortgage Terminology for the First Time Home Buyer
Buying a Home for the first time can be a little nerve racking. Mortgage terminology that brokers use everyday can leave you scratching your head or shaking your head pretending that you know what theyre talking about. Here are some mortgage terms and definitions that youll be hearing when shopping ... more...

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