Is a 15 or 30 year mortgage the best choice? There are a number of term options available to borrowers seeking both purchase mortgages and refinance loans today. There are 30 and 15 year mortgage loans, and even 20, and sometimes 10 year mortgages. So what’s the difference, and what quirks…
Where can real estate investors find purchase mortgage loans for flipping houses today? Flipping houses has become incredibly popular thanks to an array of reality TV shows ranging from Flip This House with Than Merrill to Flip or Flop featuring Tarek and Christina. The trendiness of real estate investing, along with…
Interest only mortgage loans have both been vilified and idolized as incredible financial tools for buying a home. So how do they work, what are the real pros and cons, and is an interest only home loan right for you? Interest only (IO) mortgage loans were incredibly popular in the early…
Property loans for foreign nationals might be easier to get than they have in years, but where is the best place to get them from? As with investment property loans, foreign national mortgage has become increasingly easier to obtain. Some may even complain that in some ways loans are easier to obtain…
What purchase mortgage home loans for self employed are available for buyers today? Despite often being more affluent and financially capable than their W2 salaried counterparts, self-employed borrowers certainly found it tougher to secure purchase mortgage financing and refinance loans in the wake of the financial crisis. So what options are available…
Is 100% financing still available for purchase mortgage loans when buying a home today? Yes! While the media has done a great job of highlighting how challenging mortgage underwriting became in the wake of the crises of the early 2000s, many home buyers may be needlessly be letting themselves be held…
The most commonly used mortgage product is a 30 year fixed rate mortgage. Traditionally fixed mortgage is the most conservative product and homeowners prefer its stability. There are many benefits of using a fixed rate mortgage. Typically the advantages of using a fixed rate mortgage outweigh the disadvantages. Read below to see…
Interest Loan Rates Defined An interest rate is the portion of loan repayment that is charged to the borrower and is expressed as an annual percentage of the loan. Therefore, if you have a $200,000 loan and an interest rate of 4%, you will pay $8,000 in interest in the first year…
Traditionally, mortgage lenders require most borrowers to purchase mortgage insurance in order to protect against defaulted loans. For borrowers, this can actually be advantageous because it means being able to purchase a home without needing a 20% down payment upfront. However, there are different types of mortgage insurances, one being the…
