30 Day Rate Movement 30 Yr. Fixed National Average
• 18 Easy Steps to Buy a Bargain House.
• 10 Things to Look for in a Home-Equity Line of Credit. If you are a homeowner, you've probably received offers to apply for a home equity line of credit (HELOC). Handled with care, home equity credit lines can be an excellent way to improve financial flexibility, provide readily available cash reserves for emergencies, or pay for large expenses (like college tuition or home improvements) that have irregular payment schedules. But be aware that not all home equity credit lines are created equal. If you decide that a HELOC is right for you, what features should you look for? Here are ten things that should be at the top of your list.
• What are my closing costs for my mortgage? Here’s a list of the possible closing costs; Closing Costs are broken down into sections on the Good Faith Estimate. The Good Faith Estimate is a form that describes all the closing costs associated with closing your loan. It’s a good idea to compare and inquire to multiple mortgage companies to find the best deal.
• What is an Escrow Waiver? What is an escrow waiver and what does it mean to me? A mortgage escrow waiver is available on most mortgage options. Depending upon what type of mortgage product you receive may depend upon if you have to set up escrows or not.
• Mortgage Application Checklist Typically here are the items needed to get your mortgage started. This check list is very handy to follow to help with a speedy refi or a home purchase. Some lenders may vary in the items that they ask for depending upon your financial situation and type of loan applying for, but here are the basics.
• Auction Guides: Not So Hot Properties. Seized Cars from $500 and Foreclosed Homes from $3000 No Money Down! Ads like these in newspapers and magazines, on television and the Internet, and in coupon mailings to your home may sound like the ticket to your dream home or car. They offer the chance to buy a big ticket item at auction - for well below its market value. What deals! Just call the toll-free number for more information. Is there a catch? You bet!
• Where to Shop and What to Look For. Once you have found the home of your choice, you may think that your shopping days are over. Actually, only the first phase has been completed. Next comes finding a mortgage and payment terms that fit your budget. Where you shop and what you look for are important.
• The Mortgage Application Process: Some Things to Expect. The mortgage application process requires considerable paperwork. First there is the application form, which asks for detailed information about you, your employment record, the house you want to purchase, etc. The lender will need documentation pertaining to your personal finances--your earnings, your monthly expenses, and your debts--to help gauge your willingness and ability to repay the mortgage.
• Understanding Your Rights to Fair Lending. Federal law protects every homebuyer looking for a mortgage loan against discrimination on the basis of race, color, national origin, religion, sex, marital status, age, receipt of public assistance funds, familial status (having children under the age of 18), handicap, or exercising your rights under other consumer credit protection laws. Lenders may not take any of these factors into account in their dealings with you.
• Financing Houses. Lenders control many programs -- some make use of over 200! Generally, lenders look for the following typical standards:
• Buying Houses: Types of Bargains to Find. To make a good profit in real estate, you must buy right. Check out all property types available to find the best transaction for your specific situation. Consider fixers, distressed sales, repossessions, multiple listings, for sale by owners, and vacant properties just wasting away.
• What is a home equity line of credit? A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumer’s largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses.
• Home Equity ABCs. Home equity financing is most often used for fixing up the house, putting the kids through college, buying a car or consolidating debts.
Mortgage Calculators
• ARM vs. Fixed Rate Mortgage. Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
• Mortgage Loan Calculator. Use this calculator to determine your monthly payment and amortization schedule.
• Mortgage Qualifier. Can you buy your dream home? Find out just how much you can afford!.
• Refinance Breakeven. Should you refinance your mortgage? Use this calculator to determine when you will breakeven!
• Rent vs. Buy. Are you better off buying your home, or should you continue to rent?.
