Mortgage Insurance Protection – What You Need to Know

Mortgage / June 25, 2016

Mortgage insurance is required by lenders if you get an FHA loan or make a down payment of less than 20 percent. Some states have laws that prohibit an LTV (loan-to-value) ratio of more than 8- percent without insurance. Also the secondary market may not purchase this type of loan without insurance. Your lender will set up and purchase this type of insurance. For FHA loans, your loan

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Do You Have the Personality for a Remortgage

Mortgage / June 22, 2016

A remortgage isn’t for everyone, but how can you best decide whether or not its right for you Take this personality quiz and see if you have what it takes to pursue a remortgage for you and/or your family: 1. Can you accept change YES – Then you’re primed for remortgage! Because it involves switching lenders, you’ll need to keep an open mind about changing midstream, and with your personality,

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Buying a Home – How to Get a Home Loan

Mortgage / June 11, 2016

This article has been written for the New Zealand home market and is designed to assist you on how to get a home loan mortgage to buy property in New Zealand – whether you want to buy your very first home or maybe you already have a home and want to move on to another, or you are a New Zealand resident working abroad and want to buy property. WHAT IS A LOAN PRE-APPROVAL? This is the most important

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Longer Term Mortgages – Advantages and Disadvantages

Homes / June 3, 2016

Being as it is, increasingly difficult to pay off mortgage installments, more and more people are resorting to long term mortgages in an intent to reduce the amount of the monthly payments. If there is no other option for purchasing your own property there is no much to discuss. However, if it is possible to afford a shorter term mortgage it is wise to analyze the advantages

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Home Loan Mortgage Refinance

Mortgage / June 1, 2016

Home loan mortgage refinance is ideal for home owners who are yet to clear their mortgage loans. This is advisable when interest rates have subsided. Refinancing simply means that the home owner takes another loan to clear off the existing mortgage loan and is left to deal with the new creditor, who, in most cases offers lower interest rates as well as a longer repayment period, allowing you to pay as little

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How to Complete Loan Modification Forms – Get Qualified and Approved

Homes / May 27, 2016

If you are facing hardship in making your monthly mortgage payment and you are planning to modify your loan. The first step is to contact your lender and submit the required loan modification forms. Each lender has their own guidelines for the approval process. Before you contact your lender or mortgage company make sure you know what the lender is looking in your application to get you approved.

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Refinancing: Focus On Rate or Term?

Mortgage / May 5, 2016

This issue is of great consequence because it will determine the costs and benefits that the borrower will obtain by refinancing the mortgage home loan. Let us analyze how these variables affect affordability. It will depend basically on the needs of the borrower whether one should focus on the rate or the loan’s term. However, there are additional things to take into account as in some situations a longer

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VA Home Improvement Loan

Homes / April 26, 2016

There are many varieties of loans offered to veterans and service personnel, and a home improvement loan is one of them. Repairing an existing house using ordinary home improvement loans could turn out to be quite costly compared to VA home improvement loans. Home improvement loans can be used for any repairing work carried on the house. Now veterans can borrow up to 90% of their

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Basic Guidelines For Qualifying For an FHA Loan

Homes / April 22, 2016

The FHA home loans are perfect for home buyers who cannot afford big down payment. Millions of home buyers have taken advantage of the FHA home loan program since it was introduced by the Federal Housing Authority in 1934. The program is feasible for home buyers who do not have a big down payment as the requirements for down payments are lower than with usual mortgages. Qualifying

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Low Income Home Loans

Selling / April 19, 2016

There are a lot of people out there who assume because they do not make hundreds of thousands of dollars a year that they will never own a home. The fact of the manner is that there are many low income home loans that you can choose from to help you get into a home, even if you don’t make six figures a year! This is good news for a growing percentage of the population who would like to own a home but doesn’t

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