One of the most frequently asked questions among both first time home buyers and those moving up to a bigger home is whether to take out a traditional fixed rate mortgage or go with a variable rate mortgage instead.
One of the questions that comes up most often among first time home buyers is that of private mortgage insurance. Mortgage insurance can be a difficult and confusing topic, but understanding what private mortgage insurance is and how it works can make shopping for a home mortgage loan that much easier.
Home ownership rates have never been higher than they are today. More and more renters are taking advantage of the current low interest rate environment and becoming homeowners for the first time.
Home ownership rates have never been higher. More and more renters are taking advantage of the current low interest rates and becoming homeowners for the first time.
Your mortgage may be the most important financial commitment you will ever make. You will most likely be paying off your home loan for decades, and getting the best mortgage interest rates can make a huge impact on your monthly payments.
Some Very Valid Reasons to Take the Time - Imagine if you met the love of your life but planned your life together without any knowledge or his or her family or anything that happened before you met them.
Improving your credit can be a difficult process but it is important to take the time and expend the energy to improve your credit score as much as possible. Your credit report and your credit score go a long way toward determining the interest rate you can get on such things as car loans, personal loans and home mortgage loans.
One of the things we work hard to build up most of our adult life is our credit score or "good credit" as we call it. Like a strong resume or a good reputation, it is something that takes some care to build and maintain.
We understand it may not be your fault you're living with bad credit. Sometimes circumstances arise within our lives that we have no control over. Divorce, death, medical problems, loss of a job; there are innumerable circumstances that can contribute to a bad credit situation.
As more and more consumers carry more and more debt, it is not surprising that people sometimes find themselves falling behind and unable to make their various payments on time.
Your credit report is one of the most important documents in your financial life. It is essential to know what is in your credit report and how it got there. Your credit report comes into play any time are planning to buy a home, buy a car, apply for a loan or even apply for a job or take out care insurance.
There is no doubt that the recent decades have been witness to an explosion in levels of credit card debt among consumers. The relative ease of obtaining credit cards, coupled with the anemic growth of wages and the wealth of consumer products available today has pushed more and more people to spend more than they make and in essence to live on borrowed money and borrowed time.
Buying a home is a major financial commitment. A home of your own is one of the biggest financial investments most people will ever make, and a home can be an excellent investment.
The Veteran's Administration (VA) home loan program is designed to help eligible veterans obtain home mortgage loans at excellent interest rates and favorable terms. Buying a home is the American Dream, and it just makes sense to reward those who have put their lives on the line by helping them achieve this dream.
Sub prime is the term the banking industry uses to refer to those consumers whose credit is less than perfect. With credit easier to get than ever, and more and more consumers finding themselves in over their heads, the sub prime market and the sub prime programs that serve this market, are increasingly important to the banking industry
The first thing most lenders look for when evaluating an application for a mortgage loan is the credit worthiness of the applicant. The applicant's income is examined carefully to make sure that they will be able to make their monthly payments on a consistent basis.
When borrowers seek a mortgage loan, they typically are required to commit between 10% and 20% of the value of the home in the form of a cash down payment. However, the last few years have seen a veritable explosion in home prices, and that has priced many borrowers who would otherwise qualify for a mortgage loan out of the market.
There are a growing number of lenders in the banking industry who are targeting and focusing on the non-traditional borrower. One of the products targeted to this market is the no income and no asset loan.
Documentation of income and assets is a big part of the traditional process of applying for a loan. However, there are those borrowers who do not have the traditional income documentation required for the loan approval process.
It is often difficult for borrowers with bad credit histories, or those with no credit history at all, to borrow the money they need to buy a car, buy a home, or for other reasons.
There is more interest than ever in home ownership, and more and more renters are taking the important step of becoming first time homeowners. However, for those with less than perfect credit, finding the right home loan can be a big challenge.
Getting a mortgage can be a complicated matter. But we understand that going in and accept it in light of the large amount of money being loaned and of the length of time we will be paying on the money.
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