Term Extension On Home Loan Refinancing
Posted on August 14, 2008 - Filed Under Finance | Leave a Comment
You can get lower installments by refinancing your loan with a longer repayment program.
Sometimes due to bad credit or market conditions, it is not possible to get lower monthly payments on your home loan by refinancing. This is due to the fact that those with bad credit usually can not get a lower interest rate and that sometimes, market conditions push the mortgage loans’ interest rate up. However, you can still get lower installments by refinancing your loan with a longer repayment program.
Borrowers Go Long To Avoid Crunch
Posted on August 8, 2008 - Filed Under Finance | Leave a Comment
Consumers looking to secure mortgage deals are showing a preference for long-term deals, according to online mortgage advisory service mform.
Research from mform, shows more people are searching for longer term mortgage deals.
A study by the group has shown that over 45 per cant of mortgage searches made were for deals with five years or more. The company stated that before the credit crunch, this type of arrangement was much less popular. Instead, most consumers opted for two to three-year deals which afforded them the flexibility to take advantage of lower headline rates with different providers.
Home Loan Rates - ARM or Fixed?
Posted on June 25, 2008 - Filed Under Finance | Leave a Comment
This article defines the characteristics of and differences between the two major types of a home loan rates. It also discusses some of the advantages and disadvantages of each.
There are many ways to structure home loan rates, but the two most common type of loan structures are the Fixed Rate Mortgage and the Adjustable Rate Mortgage. The type of mortgage rate that you choose will depend upon your own situation. The interest rate is the amount the loan costs you over time and varies according to the initial rate set or according to the changes in the index rate applied to your loan. The fixed rate loan will carry the same interest rate throughout the life of the loan, while the ARM changes according to a predetermined index rate.
The Basics of FHA Real Estate Mortgages for Investors
Posted on May 3, 2008 - Filed Under Finance | Leave a Comment
Sternberg brings his “buyers” expertise after 30+ years as a real estate investor. This article is a must read for any investor dealing with the potential of FHA buyers and sellers.
As an investor, it’s important to know the details of HUD/FHA programs so you can deal effectively with buyers and sellers, particularly in the area of foreclosures. Owner-occupants have first choice on these properties, but when repossessed properties don’t sell, you can pick up some real bargains. So, my advice is to study the basic information I provide in this article, and then gain as much knowledge as possible from the HUD/FHA web sites. That way, when opportunities do arise, you’ll be ready to seize them. Basic Information on FHA The Federal Housing Administration (FHA) is part of the Department of Housing and Urban Development (HUD).