|
| |
heloc: What are Hybrid Loans - 02/05/08 03:49 PM
By, Gaurav Bhola, MSM A hybrid mortgage loan has combined features of fixed rate mortgage and adjustable rate mortgages. A hybrid loan is also known as a fixed-period ARM. A hybrid loan initially begins with a fixed period of a fixed interest rate (typically 3, 5, 7 or 10 years). The hybrid mortgage then converts to an adjustable-rate mortgage. It is a wonderful combination of the best features of a fixed rate and adjustable rate mortgage. This combination gives you an initial interest rate during the fixed period of the loan that is lower than a traditional fixed rate mortgage.
Generally, a … (3 comments)
|
heloc: What Is 100% Financing Mortgage Loan? - 02/05/08 03:44 PM
By, Gaurav Bhola, MSM
The mortgage industry has worked diligently to find loan solutions for home buyers who wish to purchase a home without a down payment. The industry wants not only to increase home ownership in the U.S., but also target a growing untapped market of consumers who desire home loan solutions that require no down payment. This type of "zero down" mortgage is popularly known as 100% financing.
It is essential to understand that the term, "100% financing," does not automatically signify higher interest rates. Actually, if your credit is good, you are eligible for equivalent rates that are applicable … (0 comments)
|
heloc: What is a Second Mortgage - 02/05/08 03:35 PM
By, Gaurav Bhola, MSM
A second mortgage is a secured mortgage loan which is secondary to another loan against the same asset. In the real estate arena, a singular property can have numerous loans against it. The mortgage loan that is duly registered foremost with the proper state, city or county agency is classified as the first mortgage. Hence, the mortgage loan registered second is classified the second mortgage, a third loan against the same property is considered a third mortgage, and so on. So the same property can have multiple mortgage loans.
A second home mortgage loan is also called a … (0 comments)
|
heloc: Top Six Reasons to Do a Mortgage Refinance - 02/05/08 03:27 PM
By, Gaurav Bhola, MSM
There are several reasons to do a mortgage refinance. Here are the top six reasons to refinance:
1. Lower Your Monthly Payment
Have you ever asked yourself if you could lower your monthly payment? Work with a personal Mortgage Consultant to customize a refinancing solution to meet your specific loan needs.
Refinancing to a lower interest rate means more cash for youEnjoy more options with money you save every month due to lower monthly paymentPay off your loan faster if you choose to by paying a little more every month on your mortgage from the extra money you save from … (0 comments)
|
heloc: Home Loan Finance And Mortgage Refinance Options - 02/05/08 03:20 PM
By, Gaurav Bhola, MSM
After buying your home it is now time to find the perfect mortgage financing. Make sure you consult an expert Mortgage Consultant in terms of financing that fits your needs. There are many choices available to you for home loan finance and mortgage refinance. But it is critical that you take your time to understand the various choices before making a final decision. Here are some home financing options:
· Fixed-Rate Mortgages
· Adjustable Rate Mortgage(ARM)
· Interest-Only Mortgage Loans
· Conforming Loans
· Jumbo Loans
· Subprime Mortgages
· Hybrid Mortgage Loans
· 100% Financing
· Conventional Loans
· Government Loans
Refinance for My Current Home
If … (1 comments)
|
heloc: Home Equity Line of Credit (HELOC) - 10/03/07 10:12 AM
by Gaurav Bhola, MSM
A HELOC is simply a loan set up as a line of revolving credit for some maximum draw, instead of a fixed loan amount in which your home is collateral. HELOCs can be used to pay for several important items:
· College education tuition
· Private school education
· Home improvements
· Home renovation
· Major medical bills
Once you are approved for a certain amount of credit which is called your credit limit. Your credit limit is the maximum amount you may borrow at any one time. Most mortgage lenders set the credit limit on a … (1 comments)
|
heloc: Home Equity Line of Credit, Use it Wisely. - 09/28/07 04:40 PM
by Gaurav Bhola, MSM
As the mortgage industry spirals downward, home equity loans may also lose some of their sheen. Home equity lines of credit and home equity loans are second mortgages taken out against the equity in your home. The equity in your home is the difference between your outstanding mortgage balance and the home's appraised value.
Here is a brief comparison between a Home Equity Loan and a Home Equity Line of Credit.
Home equity loans and lines of credit (HELOCs) are not as popular as they were in the recent real estate boom. However, they are still … (0 comments)
|
|
|
|
|
|
Gaurav Bhola
Orlando,
FL
More about me…
GimmieTheScoop
Email Me
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)