Buying a home? You will need need patience, resilience to rejection, and sound financial planning, if are serious about pulling it off. Your income is important, but the rest of your financials need to be in order as well. What you’ll need… You need not earn gobs of money to be successful in purchasing a…
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Getting a mortgage is probably largest transaction of your life, no doubt, it will have an impact on your finances for the next 30 years. If you carry consumer liabilities, these unequivocally reduce ability to borrow money. If someone else pays your debt, determining financial responsibly for that party becomes critical. Consumer Obligations What we…
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Mortgage rates are now the lowest level we’ve seen in the last 17 months ago. If you can save money by refinancing your mortgage or have been putting it off, you owe yourself to explore your options. Here’s the five setbacks to know before pulling the trigger… The 1% Rate Reduction Rule Most finance experts…
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Planning to refinance your house? Deciding through the advertisements, telephone solicitations, direct mail can be mean endless choices. Opting to try your mortgage holder? If yes, buyer be aware offers to good to be true. What to know about your mortgage holder’s offer… *For anyone who has refinanced their home or bought a home since…
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Obtaining a home loan requires careful consideration of not only the costs involved, but where your loan is being originated. When people think “mortgages”, they usually think of their local bank or a mortgage broker. Internet only lenders are also in the competitive mix, aggressively promoting ultra-low rates aimed at the masses. Because an internet…
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Purchasing a home or refinancing a home loan? If the interest rate is not locked, be prepared to watch the market very closely with your mortgage company. On closing escrow: Shorter term -consider moving into locking status as rates are volatile Longer term -take the position of floating as strong economic indicators point to improving…
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As mortgage rates remain favorable, more consumers are rate savvy and rightfully so. Everybody wants to make sure they’re getting a competitive combination of rate and associated costs in their purchase or refinance loan. Comparing mortgages, doing true apples to apples comparisons can be quite time-consuming and nonetheless labor-intensive. Typical Way Consumers Shop Mortgages Most…
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The Harp 2 Refinance Program allows homeowners to refinance without any loan-to-value restriction. The program is slated to expire December 31, 2013, so if you qualify, start the process now. Despite what your current mortgage lender will tell you or what you might hear in the media, the program does have debt to income requirements…
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