Posts tagged with "mortgages"

Is This a Good Time to Take an ARM Mortgage?

Are you considering taking an ARM mortgage in this interest rate environment? There are times and situations where an ARM mortgage makes sense. Is that true in this market? Security vs. a Lower Interest Rate The 30-year fixed rate mortgage represents the ultimate tool in home financing security. Both your interest rate and your monthly payment […]

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How to Compare FHA and VA Loans

Buying a home is a big step that requires commitment and capital. However, coming up with the down payment can be difficult. Many of us don’t have tens of thousands of dollars available for a 20% down payment. The good news is that there are government programs designed to help you get into a home […]

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How to Get a Mortgage After a Foreclosure

One of the biggest credit obstacles when it comes to applying for a mortgage is getting a mortgage after a foreclosure. After all, foreclosure involves a default on a mortgage, and you will be looking to apply for a new one. How will a mortgage lender view that? Actually, by taking a few strategic steps, […]

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The Benefits of Getting a Mortgage Online

Getting a mortgage online is fast becoming more common. Thousands of homebuyers and homeowners still haven’t made the transition over to online mortgage lending. But there are several advantages to doing it, so you should certainly give it a try on your next mortgage application. Here are some of the biggest benefits of getting a […]

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Using a Subordination Agreement to Refi a First Mortgage While Keeping a Second

What if you have a first and second mortgage on your home, but you want to refinance the first mortgage only? Maybe your current second mortgage has a very low interest rate that you don’t want to lose. If so, you can use a subordination agreement to do the refi on the first mortgage, while […]

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How Mortgage Lenders Calculate Self-Employment Income

There’s no doubt about it, the burden of income documentation for the self-employed is more complicated than what it is for salaried employees. But the reason for the higher level of documentation is that the process for lenders to calculate self-employment income is more involved. By knowing how mortgage lenders calculate self-employment income, you’ll be […]

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What Are Mortgage Points and Why Do I Have to Pay Them?

If you have taken a mortgage in the past, you’re probably aware of mortgage points. If you’re about to take your first mortgage, you need to understand what these fees are. They will likely come up at some point in the mortgage process, and it’s best to be prepared for them in advance. What Are […]

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What Credit Score Do You Need to Get a Mortgage?

When you decide to buy a house, the most important thing is going to be your credit score. The lender is taking on most of the risk with this transaction. The lender fronts the money for your home purchase, and you make payments (with interest). One of the concerns the lender has is the fact […]

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Is Private Mortgage Insurance (PMI) Tax-Deductible?

When you buy a home, there are always more costs than you expected. It’s not just about the payment and interest you have on a monthly basis. It’s also about homeowners insurance and property taxes. Another thing to consider is that you might have to pay private mortgage insurance (PMI). If you don’t put at […]

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How to Get a Home Construction Loan

In a land of McMansions, finding the perfect home can seem like a fruitless endeavor. How can you find the right house without spending all your free time searching? You build your own. Building your home gives you the freedom to put in a sauna in the master bedroom or a greenhouse on your property. […]

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