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Tag Archive | "Mortgage News"

Five Things You Should Not Do Before Purchasing a Home

There are many things you should not do before purchasing a home, or you may compromise your chances of getting a mortgage at best, or even be refused a mortgage at worst. Take the tips below seriously, because many people have ignored them and were sorry they did. You have found your dream home, so […]

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Mortgage Update for October 26, 2012

This morning saw two relatively positive reports come out. The markets had little reaction to this data, as they continued to monitor the equity markets and the situation in Europe for any new information that might provide more insight into the situation there.  GDP and Consumer Sentiment Data Released The first report was the release of […]

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Fixed Rate or Adjustable Rate Mortgage – Which is Best?

It is essential that you understand whether a fixed rate or adjustable rate mortgage is best for you. In fact there are more than just these two options, because you can also select interest-only mortgages.  However, these two are the most popular mortgage options, and so we shall focus only on those here. Before you […]

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Debt to Income Ratio Basics: The Importance of Your DTI

Fundamentally, your debt to income ratio (DTI) is the percentage of your income that is used to pay your debts, and is often abbreviated to the ‘debt ratio.’ Your ‘income‘ is your total gross income from all sources before tax, and the ‘debts‘ cover everything that you are currently repaying. For example, let’s say you […]

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Why Pay Points on a Mortgage: Are Points a Benefit or Not?

Why pay points on a mortgage, and how do they benefit you? Points are a typically American arrangement, and refer to payments made in order to receive a lower interest rate. They have certain advantages, although these are not universal. Here are some details on mortgage points, and how they can be used to your […]

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Refinance Basics: Should You Refinance Your Home?

Should you refinance your home? Since we can only speak in regards to refinancing on a general basis, before you make a decision to refinance your home you should be sure to speak with a mortgage professional. Everyone’s circumstances are different, and what applies to one person might not apply to you. Before making a […]

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Private Mortgage Insurance Basics: The Fundamentals of PMI

Private mortgage insurance (PMI) is a form of protection for mortgage lenders in the event of borrowers defaulting on their payments. If a borrow takes a mortgage that is more than 80% of the purchase price of their home, then they must also purchase mortgage insurance to protect the lender. In other words, you need […]

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Mortgage Lock Basics: Should You Lock-In Your Mortgage Rate?

A mortgage lock can work for you or against you depending upon the terms of the mortgage rate lock in period and upon the current behavior of the economy as seen in the equities and bond markets (stock markets). Because these are common variables, it is not always easy to provide a definitive answer as to […]

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