When it comes to home mortgages, there is no such thing as "one size fits all." Homebuyers come to the financing table with all manner of different circumstances dictating the type of mortgage they will need. Fortunately, there are many different types of mortgages available these days, and that means that chances are, if you are in good financial standing, you’ll be able to find a mortgage that is the right fit for you.
Here is a brief overview of the types of mortgages available today: Adjustable-rate mortgages, or ARMs, feature a changing interest rate, which will affect the size of … (0 comments)
tampa mortgage lender: Fixed Rates doesn't mean Fixed Mortgage Payments
- 04/02/15 08:01 PM
This is one of the best times to get a fixed-rate mortgage. A fixed rate simply means that the mortgage lender charges you a fixed rate of interest that doesn't ever change over the life of the loan. If you get a fixed rate of 4.00 percent, you will be paying four percent in interest until you sell the home. At such a low rate, it's unlikely you'd refinance. You can see how much you pay in interest in an amortization schedule. The longer you pay on a fixed rate, the more interest you pay down because your … (1 comments)
tampa mortgage lender: How to Qualify for a Refinance
- 04/01/15 12:44 AM
You may think it's your last chance to refinance your mortgage before interest rates go through the roof. Or, you feel your home's value has risen enough that you can get a better deal on your mortgage debt. So how do you determine whether or not you qualify to refinance? First, establish how much equity you have. To refinance without paying private mortgage insurance, your LTV has to be 78 percent or less.
According to Zillow, you should find out how much your home is worth and how much you still owe on your current mortgage. Then … (0 comments)
tampa mortgage lender: Why Mortgage Rates Remain Low
- 03/29/15 09:56 PM
The Mortgage Bankers Association announced in late February that housing is poised for stronger growth in 2015. Yet mortgage interest rates remain low. Should you lock in a rate now or see what happens?
That depends on your tolerance for risk. Despite a positive outlook for the economy, researchers say that worries over global economic weakness continue to attract investors to US Treasuries.
As investments, mortgages compete with treasury bonds. According to researchers, a 30-year fixed rate mortgage has a lifespan of about seven years, making the 10-year Treasury bond the closest comparable investment. That's why … (0 comments)
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