Mortgage rates at record lows are encouraging more people to finally take the plunge and buy their first home. According to Freddie Mac, a 30-year fixed mortgage now has an average interest rate of 3.62 percent. A decrease of 0.39 percent from last year. New homebuyers aren’t the only ones jumping up the chance at easy mortgages. Borrowers who are years into their current FHA loans are also looking to refinance them. After putting down a fair amount in installments and with today’s rates, … [Read more...]
Real Estate Tips: Origination Fees
A new mortgage loan application is accompanied by an initial processing expense known as an origination fee. Considered a fee for activation of a mortgage loan, lenders consider this to be commission-based compensation. A percentage of the mortgage loan amount usually expresses such an expense. Throughout the United States, while the rates can be as great as 5%, the general range for these fees fall between 0.5% and 1% on mortgage loans. An origination fee should be added to points, which are … [Read more...]
Top Reasons To Do VA Home Loans
When it comes to applying for a mortgage loan, there are many different types of programs. With the many different home mortgage loan programs available, it is important to choose the best program for your particular home mortgage needs. One of the home mortgage programs you can choose from is a VA Home Loan. This type of program is designed for veterans to purchase a primary residence or refinance an existing mortgage loan. Below are the many benefits to the VA mortgage loans. No Down … [Read more...]
The Reasons You May Want A Home Equity Loan
Many people today are feeling the economic crunch and may be interested in getting a loan. You may be in the position that you must consolidate your debts, repair your home, pay for education of your children, pay for medical care, or purchase a large item. You may perhaps be eligible to apply for a home equity loan that would help you in being able to achieve your goal. What is the difference between this kind of loan and others? As a homeowner and a borrower you are going to be using the … [Read more...]
Searching For The Perfect Home
The one big question that most home buyers ask is how to find the perfect home. It seems that with the thousands of homes that are on the market in any local area, it can be extremely difficult to find the right home for you. This is why so many buyers decide to use a real estate professional as part of their home buying process. Good real estate agents know their market area very well, the values, the homes currently available and the process of the real estate contract like the back of their … [Read more...]
Home Loans: Important Tips To Get Easy Home Loan Approval
April/May/June period is a prime time for potential property buyers to attend a number of inspections in the hunt for a suitable purchase. Are you well prepared for the new property market? Be aware that recent sweeping changes to lending criteria may cause many novice and experienced property buyers alike to find egg on their face, thanks to an unexpected home loan rejection. Australia's largest independently-owned mortgage broker, Mortgage Choice encourages potential borrowers to take on board … [Read more...]
Shopping Home Equity Loan Rates
If you have been in your home for a number of years and you have established some equity, you may be considering liquidating some of that equity. To go with a Home Equity Loan will be an excellent way of doing this. A home equity loan allows for you to borrow off of the equity you have established in your home through appreciation and monthly mortgage payments without having to touch your first mortgage. This brings to the fore why a home equity loan can also be considered as a second … [Read more...]
FHA Streamline Refinance: No Income Verification
Searching the news today it is difficult to find anything good about the housing market, mortgages and the economy. Unless, that is, you have an existing FHA home loan and have not been late on any payments recently. What makes this good news is the FHA streamline refinance. The FHA streamline refinance is a very unique home mortgage rescue product developed over twenty-five years ago by HUD to allow FHA home loans to be refinanced to lower interest rates without the need for every … [Read more...]