Category: Mortgages/Home Financing

Basically, mortgage refinancing is replacing an existing home loan with another financial institution at better terms or obtaining a new loan from the same financial institution at better terms. There are several reasons why homeowners may choose to refinance their mortgage such as:

Acquire a lower interest rate
Changing the loan type
Speeding up equity building
Drawing …

When shopping for a new home, most home buyers will also be looking for the best interest rate and loan terms on a mortgage. The rate that is quoted by the lender or mortgage broker is seldom a straight percentage rate. Usually, it will …

Nearly 25% of all U.S. mortgages carry adjustable-rates (adjustable rate mortgages) and homeowners across the nation are starting to have trouble paying them back. Most of these loans went to borrowers with credit issues that were willing to accept higher interest rates in exchange …

The Department of Veterans Affairs offer home loans to veterans that have become extremely popular with qualified home buyers. In the past year, the government has guaranteed 489,418 VA loans which totaled over $63 billion. Unlike most mortgages, there is no down payment require for …

With literally thousands of different mortgage products being offered by lenders, shopping for a mortgage and getting the best interest rate can be confusing. The consumer advocates at the Federal Trade Commission (in conjunction with at least 10 other …

Fixed-rate mortgages are making a comeback: Due to recent developments in the mortgage industry, the collapse of the sub-prime market that caters to high-risk borrowers and the escalation of interest rates on many adjustable-rate mortgages have produced a new trend, …

You got pre-approved for a home loan when you started looking for a new home. Once you got serious about finding a new home, you hooked up with a mortgage broker and officially applied for a home loan. You were …

Home buyers should get pre approved for a mortgage first before they searching for a new home.  Why is it important to worry about a home loan that early in the home buying process?
Why prequalify for a mortgage?
The most important …