mortgages: Pay Back Your Mortgage Faster? Maybe Consider Bi-weekly Payments.
- 10/16/14 06:59 AM
While there are differing schools of thought when it comes to whether or not a person should pay off a mortgage before the loan term ends, there may be some benefits to making payments on a bi-weekly basis as opposed to monthly basis. What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks. 1) You'll Make An Extra Payment Per Year: If you're looking to pay off your mortgage ahead of schedule, making … (0 comments)
mortgages: FHA Home Loans: How to Pre-apply & Get Pre-Approved Before Buying!
- 10/09/14 05:24 AM
If you're in the market for your first mortgage, the Federal Housing Administration may be able to help you. Thanks to the FHA home loan program, you can apply for loan approval before you've found a home that you want to buy - which means you know what you can afford before you start your house hunt. Here's what you need to know about FHA home loans and how they can help you find the perfect house. Pre-Approval: Assessment Includes Employment History and a Credit Check: The pre-approval process can be done over the phone or online in a matter of … (0 comments)
mortgages: 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)
mortgages: Refi or Wait?
- 10/09/14 02:49 AM
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance: One factor to consider when debating between refinancing now and waiting relates to pulling … (3 comments)
mortgages: 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)
mortgages: Foreclosure Starts Rise For 2nd Straight Month Including in Minnesota
- 07/17/12 11:19 AM
The number of U.S. homes receiving foreclosure notices topped one million through the first six months of 2012, according to RealtyTrac. There were 1.046 million foreclosure filings between January - June 2012, says the foreclosure-tracking firm in its Midyear 2012 Foreclosure Market Report. The tally represents a 2 percent increase from the immediate six months prior. A "foreclosure filing" includes all of the following foreclosure-related actions : (1) Default notices, (2) Scheduled auctions, and (3) Bank repossessions. One notable fact from within the report is that, even as the number of repossessed homes dropped nationwide, the number of homeowners receiving a Notice of … (0 comments)
With mortgage rates down to all-time lows, you can buy a lot more home for your money. Home affordability is at an all-time high. According to last week's Freddie Mac mortgage rate survey, the average 30-year fixed rate mortgage has dropped to 3.62% nationwide. This is down from 4.08% in March, and down from 4.60% from one year ago. Mortgage rates are "on sale". Falling mortgage rates can make one of two changes to the way a Maple Grove home buyer looks at properties. They can either make a given home's monthly housing payment that much more affordable to … (0 comments)
mortgages: Closing Costs and No Cost Loans Explained. Updated 7/15/2013 New Video:
- 04/01/08 02:43 PM
In this short video, I explain the confusion about "NO COST LOANS". All mortgages have closing costs. The "no cost" option really refers to who pays the closing costs. No Cost Loans can be a "good deal" in some cases. In other cases, it's a bad deal. The question that determines what's right for you is How Long Will I Keep This Mortgage? < … (2 comments)
While there are differing schools of thought when it comes to whether or not a person should pay off a mortgage before the loan term ends, there may be some benefits to making payments on a bi-weekly basis as opposed to monthly basis. What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks.
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