Mortgage , ,

An Overview Of Mortgage Points On Home Loans

Unless someone works in the real estate or mortgage industry, there is a high likelihood that they are going to run into unfamiliar terms. Appraisals, underwriting, and private mortgage insurance are a few of the examples. One of the most common terms that people might run into is termed mortgage points. Even though the term “points” might sound positive, this is not always the case. What do people need to know about mortgage points?  Mortgage Points Refer To Payments Due At Signing When someone is negotiating for a home loan, they want to get the lowest interest rate possible. There are…
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Mortgage Rates , ,

Variable-Rate VS. Fixed-Rate Mortgages – Which Is Better For Your Financial Situation?

When applying for a new home mortgage, many loan applicants initially consider applying for a 30-year fixed rate mortgage. This is perhaps the most common and traditional type of mortgage available. It allows you to enjoy the opportunity to pay for your home over the course of 30 years with equal payments every month. While this is one option, there are actually multiple choices available. For some applications, a variable rate mortgage may be more advantageous. If you are comparing the options between a fixed rate and a variable rate mortgage, you may consider a few points. A Lower Initial…
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Mortgage Rates , ,

Understanding The Key Factors That Affect Your Mortgage Interest Rate

When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. These may be rates that seem too good to be true, and you may gladly contact the lender or mortgage company to complete your loan application. However, the unfortunate truth is that all too often, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate. By learning more about the factors that influence your interest rate, you may be able to structure you loan in a more advantageous way. Your Credit…
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