MISTAKE #1: Over shopping your loan Your credit score is based on the perceived risk associated with extending you credit. Over the years, the credit reporting agencies have determined that a borrower who seeks credit from many different lenders is riskier than others. Therefore, they decrease your credit score each time a lender pulls your credit report. Each time you…
Category: Mortgage
Buying A Home After Bankruptcy Beware Of Shady Subprime Mortgage Lenders
If you have a recent bankruptcy and are looking to buy a home, be careful of unethical or predatory lenders. Whether you are looking online or offline for a mortgage lender, it is becoming increasingly more common that subprime lenders are taking advantage of bad credit borrowers. Many lenders will take advantage of borrowers with recent bankruptcies and bad credit…
Fha Mortgage Loans The Benefits Of An Fha Mortgage
The Federal Housing Administration (FHA) insures mortgages to allow low to moderate income families to purchase their own home. With government backing, families can buy a home at a lower initial cost. However, there are limitations with this program. Mortgage Insurance – Section 203(b) The FHA provides mortgage insurance, not mortgage loans to families. However, this program can reduce the…
Hunt For The Best Commercial Mortgage Rates
While offices and factories are important for any business, purchase or construction of these premises will divert the ever-important capital from regular business expenses. If you are thinking of extending the lease period of your property then wait. Rental of leased properties put a much higher cost on the business. Even after years of paying the lease, you continue to…
How To Save Money On Your Mortgage
Understandably, when most home buyers look for a mortgage, their top priority is to get the lowest monthly payment. But it’s a better idea to look at how much it’s going to cost you over the long term, in both interest payments and fees. By looking at these costs, you can save a significant amount over the years. Even if…
What Counts As Mortgage Interest And How Do I Calculate It
When an individual takes out a loan from a financial institution or establishment in order to fully or help fund the purchase of land or a residential building for the purpose of primary or secondary residency, this is known as a mortgage. This essentially boils down to the mortgage being money that a person owes when it comes to purchasing…
Second Homes And Mortgages
Some people looking to buy a second home for either their own leisure or to possibly resell in the future will look into mortgaging that home as well. Many wonder if this is even possible, can you pull out a new mortgage for another home? The answer is yes, you can. However, there are a few things to understand. Second…
Mortgage Length Calculating Which Is Best
For many people, purchasing a home is one of the largest and most important investments they will make after their education. It is important to make sure you choose the right mortgage, one you will be able to pay off within a reasonable amount of time. You also want to make sure you choose a mortgage which has the right…
Self Certificate Mortgages Prove Yourself
Bank managers are probably the most risk-averse individuals you are likely to meet – without proof of a regular salary and sound financial track record you may presume a frosty reception when you ask about borrowing. However, there are options available for people who don’t conform to the norm. If you are self-employed or have an erratic income, you can…
Mortgage Leads Overcoming Objections
If you are a loan officer or mortgage broker, and you are obtaining leads from a mortgage lead provider, it is important that you get the best return on your investment that you possibly can. For starters, understand that a lead provider does just that, they provide you with leads. It is entirely up to you to make the sale.…