Like Us! Follow Us! Pin Us!
Need Mortgage Help?
(800) 498-6141
Fast Mortgage Rate Quotes

Tag Archive | "mortgage basics"

Mortgage Basics: Hybrid ARM (Fixed-Period ARM)

Mortgage terminology is often confusing to people and the hybrid ARM, or fixed period ARM (adjustable rate mortgage,) is a good example. In fact, it would be fair to say that most people do not understand many of the terms used by mortgage lenders, and tend to blanche when the term ‘hybrid’ is used in […]

Read The Full Post »

Tags: , , , ,

Mortgage Questions: Mortgage Terminology Explained

The mortgage questions we are asked are often based upon mortgage terminology. We shall start with some that relate to simple terms that are often misunderstood, and then progress to those that can really be confusing. Mortgage Questions:  What is Preapproval? When you are looking for a new home, it makes sense to know how […]

Read The Full Post »

Tags: , , , , ,

Mortgage Basics: Prepaid Interest and Escrow Accounts

Many find it difficult to understand the concept of ‘escrow’ in general. We shall try to make that clearer here. First, however, the question of prepaid interest. Mortgage Questions: What is Prepaid Interest? In mortgage terminology, prepaid interest relates to an advance payment made to cover the interest due for the remaining days of the […]

Read The Full Post »

Tags: , , ,

Mortgage History: Subprime Mortgage Crisis and Mortgage Derivatives

Half a decade on, and have we learned from the subprime mortgage crisis? Are mortgage derivatives now secure, and can investors purchase mortgage backed securities with confidence? There were lessons to be learned, but have we all learned them? There is no definitive answer to these questions. Even now, analysts disagree on the root causes […]

Read The Full Post »

Tags: , , , ,

Mortgage Term Options: 15 or 30 Year Mortgage?

Of the two mortgage term options, is the 15 or 30 year mortgage period better? These are the two common periods over which people choose to pay their mortgages in, so what is the difference? Obviously, the longer you take to pay, the less your monthly repayments will be, but what are the pros and […]

Read The Full Post »

Tags: , , , ,

Interest only Mortgages and Deferred Interest Loans

Interest only mortgages and deferred interest loans are options to the normal way of paying mortgages and loans.  They can be a powerful loan option when appropriate for your specific scenario. Here is a brief explanation of each. Interest Only Mortgages and Loans Interest only mortgages and loans enable you to pay only the interest […]

Read The Full Post »

Tags: , , ,

Home Warranties: Their Need and How a Home Warranty Works

Home warranties are necessary because they do not come with statutory consumer guarantees. If you purchase a washing machine and the electrics fail a month after installation, you will either have it repaired or replaced free of charge. If you purchase a house and the electrics fail because the entire house needs rewiring, you have […]

Read The Full Post »

Tags: , ,

3 Steps When the Appraisal Comes in Low

A low appraisal is not the end of the world, and not all appraisals are accurate. The following steps will help you deal with an appraisal that has come in lower then expected. Whether you are the buyer or seller, it is important that the appraisal is accurate.  For the buyer, a low appraisal means […]

Read The Full Post »

Tags: , , ,

Home Appraisal Basics: What is an Appraisal?

A home appraisal is the process by which the fair market value of your home is assessed. A real estate appraisal is an essential component of the process of selling a property or refinancing it. Fundamentally, a state-licensed appraiser will utilize the data available to estimate your home’s current market value. This data can come […]

Read The Full Post »

Tags: , , ,

Three Tips to Help Improve Your FICO Score

Your FICO score, named after the Fair Isaac Corporation that established it, is a measure of your credit worthiness. Since it is used by most lenders to decide whether or not to offer you credit, and if so at what interest rate, it makes sense to do whatever you can to improve it. Here are […]

Read The Full Post »

Tags: , , ,

Mortgage Rates