15 Year Fixed Rate Loan
A 15-Year Fixed Rate loan works well for borrowers who are nearing retirement and want to be debt-free when they get there...
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Choosing a Fixed Rate Loan
Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time...
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Dealing with Debt after Retirement
Reverse mortgages designed to help "house rich, cash poor" seniors meet their day to day expenses have gained popularity...
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FHA Loans
The program enables consumers who may not qualify for a standard loan to obtain the financing they need to purchase a home without income limitations...
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Google Local Helps Homeowners
Google™ released a new localized service in March of 2004. Many relocated homeowners have used this search feature to get to know their new neighborhood...
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High Credit Score = Low Mortgage Rate
Credit scoring was developed in the 1960s as a means to determine whether or not consumers were likely to repay their loans. The score ranges from 350 to 850...
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Home Equity Lines of Credit
Home equity lines of credit have become increasingly popular, and there are many types of loan programs available in this genre...
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How ARMs Work
During the last decade, Adjustable Rate Mortgages (ARMs) have increased in popularity among consumers...
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If I Sell, Will I Pay Capital Gains?
The IRS permits a maximum exclusion on capital gain of $250,000 for individuals and $500,000 for married couples...
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Interest Rates Change Daily
Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know...
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Intermediate Fixed Rate Loans
Intermediate Fixed Rate mortgages (sometimes referred to as Short Term Fixed Rate mortgages, or Hybrids) come in numerous varieties...
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Is it Time to Purchase a New Home?
Deciding whether to move is no easy task. There are many financial and emotional factors to consider prior to taking that next step. However, once the decision has been made...
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Preparing your House for Market
If you´re selling your home, make sure your home has "curb appeal." Remember, you can´t change a first impression...
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Pros & Cons of a Bi-Weekly Mortgage
When a borrower enters into a contract to make bi-weekly payments on their mortgage, the amortization schedule is accelerated...
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Rate Lock Duration
Lock durations can vary for mortgage financing, but most lenders lock in the interest rate for 60 days from the date the loan application is submitted. As long as the loan is closed within that lock?in period...
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The Difference between Pre-Approval and Pre-Qualification
Pre-qualification is the first step in obtaining mortgage financing. A potential borrower answers a few questions to provide the loan consultant with a quick snapshot of the borrower´s income, existing debt, accumulated savings...
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 Thinking of Selling your Home?
If you are thinking about selling your home, it is wise to consider using a qualified real estate professional to assist you. The first reaction may be...
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Various Ways to Hold Title
The decision of how the title will be held should not be put off until the last minute since it has a great impact on future tax planning...
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Ways to Improve your Credit Score
With identity theft on the rise, consumers are becoming increasingly aware of the importance of reviewing their credit reports...
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What are Points and When Should you Pay Them?
Points are up-front fees paid to obtain a better interest rate on a loan. One point equals one percent of the loan amount. A lower interest rate may result...
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What Constitutes Closing Costs?
Closing costs are expenses that cover fees associated with the transfer of property ownership, fees paid to state and local governments, and the costs ofobtaining a mortgage loan. Some of these fees are negotiable...
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What is a Pre-Paymet Penalty?
A prepayment penalty is a fee charged to borrowers that make full payment on their mortgage, or pay off a substantial portion...
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What is Negative Amoritization?
A negative amortization loan is an adjustable rate mortgage that allows the consumer to tap into home “equity” by offering several monthly payment options...
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What is Seller Rent-Back?
In home purchase transactions, there are many times when the buyer and the seller are simply unable to agree upon a specified closing date. The Real Estate Agent involved can negotiate a ´rent back´ period...
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What is Title Insurance?
Title insurance is a policy that is usually issued by a title company to protect the lender against something that might have happened in the past, rather than...
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What is PMI?
Private Mortgage Insurance (PMI) affords many buyers an ability to own real estate and build equity that would otherwise not be available to them. It is an additional policy required by most...
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Why Refinance?
Homeowners refinance for different reasons, but the process of refinancing a mortgage should result in some benefit to the homeowner. A borrower may choose to refinance to obtain a lower interest rate...
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Why Rent?
The Advantages of Home Ownership It´s staggering when you think about the cost of living, especially if you´re a renter and not a home owner. If you are currently paying $1,000 a month...
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