The best deals on 30 year fixed rate mortgages in the US these days can be found at AimLoan.com. You can get a 30 year fixed mortgage rate for as low 4.375% with 1.973 discount points and $1,995 in fees. Each point is equivalent to 1% of the total amount borrowed, and is regarded as… [Continue Reading]
Increase Home Value with Open-End Mortgages
June 15, 2010 By
Borrowers who want to use mortgage funds to improve their homes can do so through open-end mortgages. Open-end mortgages with mortgage rates give borrowers the ability to borrow additional money through the main mortgage, as long as the borrower fulfills some specific criteria. Apply For Open-End Mortgages at the Outset You have to apply for… [Continue Reading]
Numerous Factors That Determine Mortgage Rates
May 6, 2010 By
The calculations and actions that go into setting prevailing mortgage rates are quite complicated, but it’s possible to break these down into a few major influences. Actually, local banks and lenders don’t have much influence on mortgage rates. Rather, these rates are largely determined by more general and broad factors. Watch The Fed The Federal… [Continue Reading]
Refinance Your Way Out of Ridiculous Mortgage Rates
April 16, 2010 By
Many homeowners choose refinancing as a great way to reduce mortgage rates. While refinancing can help you save money in the long term, it’s only advised for people who have done the math and can safely deduce that refinancing will help ease their financial burden. Here, we’ll take an in-depth look at refinancing. The Pros… [Continue Reading]
How to Determine Mortgage Rates
February 12, 2010 By
When it comes time to shop around for a mortgage lender, consumers have many different options. One of the challenges is finding the right mortgage lender and more importantly, finding the best mortgage rate. In order to do that, it’s important to understand how mortgage rates are set. Who sets the rate? What will change… [Continue Reading]
The 2010 Standardized Mortgage GFEs
February 4, 2010 By
Mortgages are a very important aspect to understand when preparing for life-long investments for your future and for your family’s future. Year after year, borrowers look to lenders to tell them why their mortgage is the best option. Lenders send borrowers GFEs to explain all the best possible choices for that mortgage. But what about… [Continue Reading]
Credit History & Your Loan Rate
July 6, 2008 By Leave a Comment
Understanding credit and how it affects you in financial situations is very important. Credit is one of the biggest determining factors in getting a loan of any kind. Lending institutions and banks that loan you money want to know that you are willing and able to pay them back. They call this risk. The less… [Continue Reading]
Cash Assets & Your New Home
July 2, 2008 By Leave a Comment
In applying for a loan, assets are an important contributing factor. Lenders want to see that you have enough cash assets in order to make the loan workable. Some base the amount of assets they require off of your income, some just base them on the months in reserves for the loan they are looking… [Continue Reading]
How Much Home Can You Afford?
June 28, 2008 By Leave a Comment
In determining your maximum mortgage amount, lenders use guidelines called debt to income ratios. This is simply the percentage of your gross monthly income (before taxes) that is used to pay your monthly debts. They use two separate calculations in figuring the percentages. You have a front end ratio and a back end ratio. Front… [Continue Reading]
