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Mortgage Professor about prime interest rate: 
Is This a Good Time For an HEL?
7 June 2004 "I have a first mortgage for 161K at 7.125%, a second for 40K at 7.5%, and 50K of credit card debt at 13-19%. We could refinance the first and second mortgages into a fixed-rate loan at 6.25%. But we could also refinance them into a home equity loan at 4% (prime ... more...

Mortgage Prepayment Penalties
October 12, 2001, Revised November 17, 2004 What Is a Mortgage Prepayment Penalty? A prepayment penalty is a provision of your contract with the lender that states that in the event you pay off the loan entirely, you will pay a penalty. Penalties are usually expressed as a ... more...

prime interest rate related definitions

Prime Rate
Prime Rate In North American banking, the prime rate is the interest rate a banks charge to their best or "prime" customers. Each bank will quote a prime lending rate. Many institutions quote prime rates established by large money center commercial banks such as ... more...

Warehouse Fee
Warehouse Fee Some mortgage companies borrow money on a short term basis in order to originate loans which are to be sold later in the secondary mortgage market. When the prime rate of interest is higher on short term loans than on mortgage loans, the mortgage firm has an ... more...

More about prime interest rate

Get Free prime interest rate Quotes and Estimates

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...

Military Payday Loans! The Before Pay Check Financial Fiasco, is History Now
Working under the most prestigious service of the country military and still struggling with ends to meet! Are finances crumbling on you? And you thinking of another job? Will it easy to maintain two jobs? How would it affect your life? Is there a guarantee that the second job will solve the ... more...

Home Equity Loans Company 7 Key Questions to Help You Choose One
Choosing the right home equity loan can be tricky; you have to consider interest rates and repayment schedules, among others. Choosing the right lender, however, does not have to be a difficult task. If you ask the right questions, you can pick the best lender for your needs. The following is a ... more...

8 Tips for Keeping More of Your Hard Earned Money
Masters degree not required...just a little common sense, a $5.00 calculator and a realistic plan is all youll need.Theres got to be a better way resonates with many of us, when contemplating how frustrated weve become with our investment decisions. Too many Canadians are spending far too much on ... more...

Bad Credit Florida Mortgage Loans
Mortgage loans are the loans taken while purchasing a house or property. There are various kinds of mortgage loans namely, FHA (Federal Housing Administration) loans, consolidation loans, land loans, conventional loans, balloon loans and refinance mortgage loans.Mortgage loan rates in Florida have ... more...

I Want to Buy a Home - Now What?
If you were to ask 100 women "What would you like to achieve financially?" Buying a home or apartment is usually one of the answers. Some women think that they can never own a home - which is not true! In fact, there are so many success stories of home buyers who never thought they would get there. ... more...

Subprime Mortgages Low Down Payments And No PMI
Sub-prime mortgages offer financing for those with poor credit to finance the purchase of a home. Todays sub-prime mortgages offer low down payment options with no private mortgage insurance (PMI). As a result, more people are finding it easier to buy a home.Sub-prime Mortgage OptionsSub-prime ... more...

Is My Money Safe? On The Soundness Of Our Banks
Banks are institutions wherein miracles happen regularly. We rarely entrust our money to anyone but ourselves and our banks. Despite a very chequered history of mismanagement, corruption, false promises and representations, delusions and behavioural inconsistency banks still succeed to motivate ... more...

Debt Relief 101: Understanding Your Options and Avoiding the Scams
The total consumer debt in the United States has ballooned to over two trillion dollars a full 100% greater than it was just a decade ago. As a result more people than are in need of debt relief services. But like with all burgeoning industries, there are a number of scams and ineffectiveness in ... more...

FICO Scores and Mortgage Rates
If you are in the process of getting a house and are planning to get either a fixed rate or interest only mortgage, the mortgage rate that you pay would go a certain length to help you decide. There are three main elements that effect you mortgage rate including the Federal Reserve Discount ... more...

Things that You Need to Know before Financing Your Home
Frequent Asking Questions:What are Points? A. There are several types of mortgage related costs called "points" and their definitions and purposes vary. Generally, points are costs that must be paid to a lender in order to receive mortgage financing under specified terms. One point means 1% of ... more...

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