Category Archives: Mortgage Loans

Second Home Mortgage and Tax Deduction Rules

Second Home MortgageWhen buying a second home you do need to be aware of mortgage interest, property taxes, rental income (if renting the home out) and expenses and how they will affect your tax returns. You can trade down to a less expensive home and use the profit to buy a second home. This is a great way to avoid higher taxes or profit and loss taxes on your first home.

Radian Mortgage Insurance Review

Radian Mortgage InsuranceRadian mortgage insurance can be found in different types, and the company has had some troubles in the past but has overcome these issues and is now considered one of the top companies for mortgage insurance products in the private sector. This company will not offer you a mortgage life insurance quote or try to sell you a mortgage disability policy, because they only one type of insurance and that is the type which helps you get into your home with less than twenty percent down.

Top 10 Mortgage Insurance Companies

Mortgage Insurance Companies 1. Triad Guaranty Insurance Company- One of the top mortgage insurance companies is the Triad Guaranty Insurance Company, and for excellent reasons. This company offers private mortgage insurance and has a reputation for service and integrity.

2. GE Capital Mortgage Insurance- GE offers mortgage life insurance, disability, PMI, and many other types.

Top 5 Situations When You Need Mortgage Disability Insurance

Mortgage Disability Insurance 1. You should have mortgage disability insurance if you do not have any other type of disability insurance protection, so that you do not risk being unable to work and losing your home because of this. Mortgage insurance companies offer varying rates on this type of coverage, so that you can comparison shop and get the best possible premium prices on your policy and save money in the process.

Mortgage Protection Insurance Benefits And Drawbacks

Mortgage Protection InsuranceMortgage protection insurance offers both benefits and drawbacks, and can be a source of confusion for some home buyers. This insurance is completely different from private mortgage insurance, although the two are commonly confused. While PMI covers the first 20% of your home if your down payment is less than this amount, MPI will make your mortgage payments if you can not because you have been disabled, laid off, or pass away.

Mortgage Life Insurance Pros and Cons

Mortgage Life InsuranceMortgage life insurance has both pros and cons, and while this product may be ideal for some homeowners it may be an unnecessary expense for others. Finding a mortgage life insurance quote is easy, because of the many insurance companies out there that offer this coverage, but do you really benefit or are the disadvantages more numerous?

The pros of mortgage life insurance are many. This insurance coverage will pay off your mortgage balance in full if you die while you still owe on your home.

Private Mortgage Insurance: Top 10 Things You Need To Know

Private Mortgage Insurance 1. Private mortgage insurance is normally required if your mortgage loan is for more than eighty percent of the value of your home. This insurance is typically required if you are buying a home and do not have at least a twenty percent down payment.

2. Mortgage insurance companies do not cover the entire mortgage balance, only the initial twenty percent of the home value. If you default on your loan after putting ten percent down, and you have paid another three percent in payments over time, then your insurer would have to make up the seven percent difference.

Mortgage Assistance Program – How To Use It To Buy A House?

Mortgage Assistance ProgramA mortgage assistance program can help in a number of different ways, and these programs can help you buy a home that would not be possible otherwise. The federal government offers a number of programs that are intended to help both current homeowners and those looking to buy a home, so that the American Dream of home ownership is achieved. The home affordable refinance program, called HARP, can help those who have seen their home value drop because of the market, so that the mortgage payments are more affordable through mortgage refinancing. One type of mortgage assistance program that can benefit home buyers instead of home owners is down payment programs, which help qualified applicants by providing a specified amount for a down payment on a home.

Home Affordable Refinance Program Guidelines Review

Home Affordable Refinance ProgramThe home affordable refinance program, also called the HARP program, is a program that allows homeowners to refinance when it is not possible to do so in other ways because of the housing market decline, as long as the homeowner meets the criteria for the program. This is a type of mortgage assistance program so that you can make your payments more affordable, and get the help you need at a time when your home value has dropped.

Debt Consolidation Home Mortgage Loan – When To Use?

Debt Consolidation Home Mortgage LoanA debt consolidation home mortgage loan may seem like a perfect solution to get the cash you may need to pay off or consolidate your debt, but when should you use these loans? And are they really a good idea? Second home mortgages may also be used to consolidate any debt you have, and both of these loan options use your home as collateral against the debt. This means that if you do not make the agreed upon payments then you could end up losing your home to the lender. A debt consolidation home mortgage loan should only be taken out after you have evaluated all of the advantages and risks that this type of loan involves.

Second Home Mortgages Pros and Cons

Second Home MortgagesSecond home mortgages offer both pros and cons, and it is important that you understand these before you take out one of these home loans so that you can make the right choice for your specific goals and circumstances. Some of the best home mortgage lenders may offer a simple application and an easy to follow process, as well as offering lower interest rates and better loan terms. These loans have become increasingly popular, but they may also be risky in some cases, depending on the specific loan and lender that you have chosen. Second home mortgages can be an excellent product for some, but for others these loans may be a big mistake.

Reverse Mortgages Pros and Cons

Reverse Mortgages Pros And ConsIf you are thinking about a reverse mortgage on your home you should be aware of the reverse mortgages pros and cons. While this type of loan can offer many benefits for some, there are also reverse mortgage disadvantages that need to be evaluated and considered as well.

Pros: One of the pros is that you will have access to additional financial resources, which may be needed during your retirement years. The reverse mortgages pros and cons need to be carefully looked at before you decide to use this method, to make sure it is the right choice for your specific situation.

Top 10 Reverse Mortgage Disadvantages

Reverse Mortgage Disadvantages 1. One of the reverse mortgage disadvantages is the complexity that some of these loans can involve. Some of these mortgages can be very complex, and difficult for most consumers to understand the fine print involved.

2. Having a reverse mortgage explained can point out that the money you receive must be paid back with interest. As long as you live in the home and keep up the maintenance and taxes then no payments are expected, but if the home is sold or you move out the loan principal plus interest will be payable.

FHA Reverse Mortgage Requirements

Reverse Mortgage RequirementsWhat are the FHA reverse mortgage requirements? This type of mortgage may also be called a home equity conversion mortgage, and it allows some of the built up equity to be drawn from a home. There are some special requirements to qualify for a reverse home mortgage through FHA, and you should understand these to determine whether you can use this option. One of the reverse mortgage requirements is that you must be at least sixty two years old to be eligible for this program, and another is that the property in question must be your principal residence to qualify for the program.

Buy to Let Mortgages: 7 Mistakes to Avoid

Buy to Let MortgagesBuy to let mortgages are specific types of real estate loans reserved exclusively for investment properties intended to be rented out. Buy to let mortgages rates are generally higher compared to traditional home owners’ loans due to an increased risk of default associated with such properties.

Rental market is hotter than ever due to tough economic times, increasing divorce rates and rising number of people with bad credit who simply can not afford to buy homes.

Mortgage Broker Bond – Who Is Eligible for It?

Mortgage Broker BondMortgage brokers do not loan their own money, they are mere independent contractors working on screening people eligible for various loan products offered by a number of financial institutions. Mortgage broker bond eligibility ensures lenders that the given contractor practices lending in good faith, has exact understanding of all the necessary requirements needed for securing mortgage loans.

Jumbo Mortgage Rates Review

Jumbo Mortgage RatesJumbo mortgage rates apply to higher priced housing in affluent neighborhoods. Jumbo mortgage rates generally run higher compared to mortgages on averagely priced residential homes by at least a quarter of a percent since it costs more for banks to pull out substantial sums of money. In addition, jumbo mortgage rates average higher due to an increased risk of defaulting on exclusively priced real estate.

Mortgage Rate Predictions: 10 Factors Affecting It

Mortgage Rate PredictionsMortgage rate predictions are somewhat like gambling since you never know what will happen in reality. Many affluent economic masterminds use historical data combined with modern economic trends and at times mere gut feelings to create their latest mortgage rate predictions.

Many important economic indicators are taken into account, we list 10 factors affecting mortgage rate predictions below.

10 Refinance Home Mortgage Rate Tips

Refinance Home Mortgage RateWith plummeting interest rates nowadays, it may seem like a good idea to consider applying for a refinance home mortgage rate loan that is lower than your current mortgage rate. However, making a decision to refinance your mortgage based exclusively on lower refinance home mortgage rate does not guarantee you savings in the long run.

This article will provide top 10 foolproof refinance home mortgage rate tips and what important aspects to take into account when making this important financial decision.

Best Refinance Home Mortgage Loan Rate

Best Refinance Home Mortgage Loan RateIt seems like everyone you know is talking about the best refinance home mortgage loan rates available nowadays allowing you to reduce your monthly payments and use the money to fund home improvement, kids’ education or investing into retirement.

While you are looking into finding the best refinance home mortgage loan rate, do not automatically assume that a lower loan interest rate will guarantee you savings in the long run. Consider your annual mortgage costs and compare them with your future annual mortgage costs taking into consideration loan terms and conditions. This is the only way to truly know if in fact you are getting the best refinance home mortgage loan rate.