home loans: You Can Apply For A Home Loan Even If You Have A Few Dings On Your Credit - 10/28/11 10:44 AM
In today's market, everyone is trying to save money and find a good deal, especially in real estate. If you're one of these people who are searching for a new home, this article has a number of useful tips for buyers that can help you find the perfect home at a great price.Make sure you do not commit to purchasing a home until it has been inspected. Many times, people have bought homes, only to find that the amount of repairs needed is much more than they thought. These repairs can cause a new homeowner to become broke. Instead, have an … (1 comments)

home loans: Apply For Online Mortgage From The Comfort Of Your Home - 06/03/11 09:51 AM
Mortgage loans have made it easy for people to buy real estate investments. People wanting to buy homes can get a loan from financial institutions and banks to buy the house. The different aspects of the mortgage loan like the amount of loan, interest rate, maturity of the loan and the method of repayment of the loan may vary significantly from one financial institution to the other.
Applying for a mortgage can be a tricky process. There are basically two options available. One is to personally approach the banks of the financial institutions who offer loans and the second is to … (1 comments)

home loans: Fannie Mae and Ginnie Mae Real Estate Loans - 05/06/11 09:11 AM
When purchasing a home, a buyer has a lot of options to consider. There are considerations of price, location, size and a host of other tangible aspects about a property that need to be factored into the decision to buy a home. So too does a savvy buyer need to know the difference between the myriad of different home mortgage options that are available to him or her. While Ginnie Mae and Fannie Mae loans sounds familiar in name, there are some key differences that are essential to know.
Ginnie Mae’s primary goal is to help low and moderate-income families in the … (1 comments)

home loans: Real Estate Loan Discrimination | Action to Take if it Does Happen - 05/03/11 09:17 AM
While the Fair Housing Act and HUD's Office of Fair Housing and Equal Opportunity prohibits discrimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status or national origin, there’s no question that it happens. The law is very specific and relates to both the sale of a home and a lenders’ decision to grant you a loan to buy the home of your choice.
If you feel a lender or any other person involved in the home-buying process has discriminated against you, you have the option to file a private legal action against that … (0 comments)

home loans: Some Things to Know Before Purchasing Private Mortgage Insurance - 01/19/11 04:27 AM
Adding the costs of monthly mortgage payments, insurance, and taxes, it's no wonder why the home can be the single most expensive purchase you will ever make. But on top of that you have to allow extra for the cost of private mortgage insurance (PMI). Should homeowners consider this add-on a requirement? Or is it simply a way for your financial institution to get more funding?
Make sure you realize how much your monthly mortgage payment will increase. In most cases, one half of one percent of your total mortgage loan is added. Be careful though - this is only for the … (1 comments)

home loans: How Does An Assumable Loan Differ From The Rest? - 01/10/11 09:49 AM
With an assumable loan, the borrower does not request for a new loan but rather takes over an existing one. The takeover of the balance of the existing loan as well as the existing interest rate is the fundamental elements of an assumed loan. Because there is no requirement to meet the criteria for an assumed loan, an individual with bad credit record can get a second chance. A lot of assumed loans do not require qualification but this might not be the case for all of them.
This kind of lending situation also has other advantages. Closing costs, for instance, can … (0 comments)

home loans: Difference Between Home Loans’ Wet State And Dry State - 10/15/10 10:22 AM
Believe it or not, within the real estate industry, these terms do not concern the sale or distribution of alcoholic beverages. It pertains to the period where a new buyer can take over a new property as soon as the mortgage is regarded as closed.
“Wet payment laws” require that lending banks pay out funds during a certain timeframe as soon as the closing date of the mortgage, which may change according to the specific state in which the loan was taken out. Laws vary and disbursement time can range from the day of payment to within two days of closing. … (0 comments)

home loans: An Investigation Of ALTA Insurance Policies - 10/07/10 03:51 AM
Lender’s policies, also called loan policies, can only be obtained by home mortgage lenders. Before assigning a lender’s policy, the mortgage loan is usually assigned first. In the event the loan is ever sold, the policy will reward the loan purchaser. Secondary markets that are often made up of large amounts of buyers are aided in the sale of home loans by loan policies. Some of these buyers include Fannie Mae and the Federal Home Loan Mortgage Corporation, along with private institutions.
The most common of forms used in the United States are issued by the American Land Title Association, also known … (0 comments)