Need Mortgage Help?
1-800-570-5626
Fast Mortgage Rate Quotes

Tag Archive | "mortgage basics"

Mortgage Down Payment: Importance of a Deposit on a Home

If you are only able to make a small mortgage down payment on the home you wish to buy, then that will affect the type of loan available to you. In fact, a small deposit on a home will also limit the amount of closing costs that the seller will be allowed to pay for […]

Read The Full Post »

Tags: , , , , ,

Home Purchase Basics: Down Payments and Closing Costs

When you make a down payment on a home it has a significant effect on most aspects of home purchase. Your real estate deposit is more important than you likely believe. Here are some factors that relate to the amount of mortgage down payment you make and the closing costs you may have to pay. […]

Read The Full Post »

Tags: , , , ,

What is APR: Annual Percentage Rate and How to Use It

What is APR? It stands for Annual Percentage Rate, but what does that mean? You will see the term on every quotation for finance or credit cards you receive. It is one of those ubiquitous terms that very few people actually understand. What confuses many is the APR is generally higher than the note rate […]

Read The Full Post »

Tags: , , , , , , ,

Your Credit Report: Are Your Credit Records Accurate?

Like it or not, your credit report will be examined each time you apply for credit of any kind. This might be viewed in the form of a condensed ‘credit score’ which is a numerical measure of your credit-worthiness. It might also be inspected in full, so it pays for you to take advantage of […]

Read The Full Post »

Tags: , , , ,

Green Mortgages: What are Energy Efficient Mortgages?

Green mortgages are energy efficient mortgages that have been discussed since the early 1980s. It s possible to have energy-efficient improvements made to your home and included in your mortgage repayment schedule. This should be discussed when arranging your mortgage. Energy efficient mortgages are available to most people applying for them, yet they are a little […]

Read The Full Post »

Tags: , , ,

Loan Modification: Basics of Mortgage Modifications

Loan modification is a process that enables those in danger of foreclosure to modify or rearrange their mortgage. Fundamentally, the purpose of mortgage modifications is to enable homeowners with payment difficulties to keep current with their repayments and retain ownership of their homes. There have been problems with these in the past, and many lenders […]

Read The Full Post »

Tags: , , , , , ,

Mortgage Down Payment Assistance Programs

Down payment assistance programs (DPA) are designed to help you with your down payment when buying a home. If you are having trouble raising the cash needed to buy your home, then help is available – but funds are limited, and many state and local governments will rapidly run out of such assistance. DPA did […]

Read The Full Post »

Tags: , , ,

How Much Mortgage Can I Afford

What mortgage can I afford?  Practically all house buyers have asked themselves that question at one time or another.  What are mortgage points, and what down payment must I have? These are others. Here is some advice on arranging a mortgage that you can afford. What Mortgage Can I Afford – Pretax Income It is […]

Read The Full Post »

Tags: , , ,

Private Mortgage Insurance Basics

Private mortgage insurance is usually required when you take a mortgage loan. In fact it is generally included in your mortgage payment and placed in an escrow account along with any tax liability. This protects the lender against any inability on your part to pay the full annual lump sum when it is due. Must […]

Read The Full Post »

Tags: , , , ,

PITI: Principal, Interest, Taxes, and Insurance.

Sounding just like ‘pity,’ PITI stands for Principal, Interest, Taxes and Insurance. The term is used in relation to mortgage payments. It is the total monthly sum paid for a mortgage in the USA. Here is a description of the initials in the acronym in more detail. PITI: Principal The principal is the capital sum […]

Read The Full Post »

Tags: , , , , , ,

Mortgage Rates