mortgage loan information: How Much Mortgage You Can Afford?
- 10/20/14 08:14 AM
Whether you're buying a home for the first time or you've decided it's about time that you upgraded to a larger, more expansive house, if you're making a real estate purchase you'll need to be aware of how much you can reasonably afford to borrow in a mortgage. In today's post we'll take a look at a few ways that you can analyze your financial situation to help decide how much mortgage you can truly afford. Prepare An Honest Monthly Budget: The first step in understanding how much of a monthly payment you can afford is to create an honest monthly … (3 comments)
mortgage loan information: 3 Pieces of Advice You Can Share About How to Manage a Mortgage:
- 10/09/14 04:59 AM
When your children are about to step out into the world on their own, you want to help them on their way. This especially holds true when it comes to buying a house. As your sons or daughters prepare to take the plunge into home ownership, make sure they follow three crucial tips that will help them during the mortgage process. Don't Bite Off More Than You Can Chew: One of the biggest mistakes that homeowners make is choosing a home that is beyond their price range. Your children need to remember that they are going to be paying for their … (1 comments)
mortgage loan information: Is a 40-Year Mortgage Worth It? How to Decide.
- 09/18/14 05:16 AM
There are different timetables for mortgages. The most common types are 15-year and 30-year mortgages. However, a mortgage broker can establish unique timetables for a homeowner, such as a 40-year mortgage. Friends may recommend going for a long-term timetable, but what do professionals think of a 40-year mortgage? Here is what you may want to consider to see if a 40-year mortgage is appropriate for you. The Monthly Rates Will Be Low: Compared to a 15-year or a 30-year mortgage, the monthly payments for a 40-year mortgage will be lower. Since the mortgage is spread over 10 years beyond a conventional … (4 comments)
mortgage loan information: Can One Missed Mortgage Payment Affect Your Credit Rating? Yes!
- 09/10/14 05:42 AM
Most people don't know whether or not a single missed mortgage payment can have serious consequences for their credit score. The good news is that there are things that can be done to mitigate the damage and help anyone who has missed a payment repair their credit. What are some options to help homeowners get back in the good graces of their creditors? Own Up To The Mistake: The best thing to do is to admit that the payment was missed and immediately make amends for it. For the most part, mortgage lenders are sympathetic to the fact that people miss … (0 comments)
mortgage loan information: A 'Qualified Mortgage' or QM & Why It's Important to New Home Buyers?
- 08/06/14 09:02 AM
Are you shopping for a home or a new mortgage? If you are interested in finding the best possible financial product, it is important to consider the benefits of selecting a Qualified Mortgage. With so many different types of loan products to choose from and financial terms to learn, schooling yourself on the mortgage market before you buy your first home or apply for your first refinance mortgage may seem like a daunting task. Luckily, there are resources that are designed to help you learn the basics of products and terms so that all consumers have the power to inform themselves … (0 comments)
mortgage loan information: Starting to Shop for a Mortgage?
- 07/30/14 06:00 AM
Those who are looking to buy a home may want to start by shopping for a loan first. Having financing ahead of time may make it easier to get sellers to take a buyer seriously and help move along the closing process. For those who are looking to get a mortgage, the most important factor for having a mortgage application approved is the debt-to-income ratio of the borrower. What Is a Debt-to-Income Ratio? A debt-to-income ratio is simply the percentage of debt compared to the amount of income that a person brings in. If a person brought home $1,000 a month … (0 comments)
Whether you're buying a home for the first time or you've decided it's about time that you upgraded to a larger, more expansive house, if you're making a real estate purchase you'll need to be aware of how much you can reasonably afford to borrow in a mortgage. In today's post we'll take a look at a few ways that you can analyze your financial situation to help decide how much mortgage you can truly afford.
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