loan: Considering Co-Signing For A Home Loan? Think About It First ... - 06/02/08 08:34 PM
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity.
"Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on … (0 comments)
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loan: Basic Credit Scoring Tips For A Better Mortgage Rate - 06/02/08 08:30 PM
Credit scoring is becoming more important to mortgage pricing so now would be a terrific time to brush up on your credit education.
If you understand how the system works, after all, you can make it work to your advantage.
One terrific place to start your research is at myFICO.com. Published … (0 comments)
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loan: How "Once Bitten, Twice Shy" Is Making It Harder To Buy A Home - 05/24/08 12:04 PM
Getting approved for a conforming home loan just got tougher.
Again.
As home loan defaults mount, government-sponsored financier Fannie Mae has imposed new guidelines on what it will lend and to whom, highlighting the need for a strong credit profile and a downpayment.
Some of the new restrictions on home … (0 comments)
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loan: In 2008, Home Loans Are One Day Cheap And The Next Day Expensive - 05/12/08 03:49 PM
When mortgage rates change rapidly, it's a fiscal challenge to shop for a home and/or home loan.
Lately, mortgage rates have been especially volatile, mirroring the wild moves of the stock market.
Here's how up-and-down stock markets have been in 2008: Through last week, the S&P 500 Index changed more … (0 comments)
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loan: What's Your After-Tax Mortgage Rate? - 05/12/08 03:20 PM
Many homeowners are entitled to two major tax deductions -- one for annual interest paid on a home loan, and another for real estate tax bills paid to government.
Calculating your approximate tax credit is basic:
Add mortgage interest paid and real estate taxes paid together
Find your marginal tax … (0 comments)
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loan: Real Estate Term : Negative Amortization Home Loan - 05/05/08 05:53 PM
(Pronounced: NEGH-ah-tive am-ohr-tih-ZAY-shun)
Negative amortization is the process by which a loan's principal balance increases on a month-over-month basis.
This is in contrast to a "typical" amortization schedule in which the principal balance decreases.
Negative amortization is an optional feature on some home loans.
These mortgages are usually referred to … (0 comments)
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loan: Simple Real Estate Definitions: Adjustable Rate Mortgage - 05/05/08 05:51 PM
Adjustable Rate Mortgages are mortgages for which the interest rate is subject to change over time according to pre-defined rules.
ARM is a common acronym for Adjustable Rate Mortgage and every ARM has similar features:
An initial fixed period during which the mortgage rate doesn't change
An initial interest rate … (0 comments)
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loan: Spreadsheet Formulas: Calculating Home Payments - 05/05/08 05:50 PM
For a lot of homebuyers, calculating a prospective mortgage payment is an online experience. For example, a search on Google for "mortgage calculator" returns 39 million options.
Some people, however, prefer to plan on their local hard drive using spreadsheets. For these people, the hardest part is often figuring out what … (0 comments)
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loan: Considering Co-Signing For A Home Loan? Think About It First ... - 05/05/08 10:55 AM
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity.
"Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on … (0 comments)
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