All posts tagged: Mortgages

Understanding the Basics of How the Adjustable Rate Mortgage or ‘ARM’ Works

As the 2009 recession fades into the sunset, the home buying market is showing signs of improvement in areas all over the United States. With more home buyers now entering the market, this becomes a good time to discuss one popular type of mortgage called the “Adjustable Rate Mortgage” or ARM.

The HARP Mortgage Program is Coming to an End Soon – Here’s What You Need to Know

The United States government established the HARP program, otherwise known as the Home Affordable Refinance Program, to assist homeowners who are struggling with their mortgage payments. However, the program will be ending soon, and homeowners who have not yet taken advantage of the program and who intend to do so may need to act quickly.

Mortgage 101: 3 Reasons to Avoid Giving Wrong Information on Your Mortgage Application

Completing a loan application is among the first steps mortgage applicants take when applying for a loan, and it is easy to overlook the importance of providing accurate information at this stage in the process. It is best to take time complete the loan application as accurately as possible as it is a legal requirement and because of the other negative consequences.

The Pros and Cons of Paying Your Mortgage Bi-weekly Vs. Monthly

When applying for a new mortgage or after closing, many will have the option to choose between a single monthly mortgage payment or smaller bi-weekly payments. There are benefits and drawbacks associated with both options, and some personal financial considerations may need to be reviewed in order to make a decision that is best for the individual.

Start with the Basics: How to Create a Budget to Determine How Much Mortgage You Can Afford

A mortgage is typically one of the biggest monthly payments and financial responsibilities that a person is responsible for. Mortgage payments usually impact the person’s budget significantly for several decades or longer.

While there are mortgage calculators online that can be used to estimate an affordable mortgage payment, it is important to start with a basic budget. A budget will allow you to more accurately determine how large of a mortgage payment is truly affordable before applying for a new mortgage.

3 Reasons Why the Lowest Mortgage Interest Rate Isn’t Always Your Best Option

One of the more common methods that home loan applicants use to find the best loan program available is to compare interest rates, but choosing the lowest rate possible is not always the best option available. In fact, in some cases, it may be one of the least advantageous options when all factors are considered.

Suffering from Credit Problems? Three Ways You Can Patch Up Your Credit to Get a Mortgage Approved

Credit problems are unfortunately common, and they can make it difficult for you to obtain a mortgage. While some issues may take a while to fix, you may be able to see a decent increase in your credit rating when you follow a few easy steps.

An Insider’s Look at Mortgage Closing Costs and How to Minimize the Amount You’ll Pay

When buying a new home, you may be focused on finding a mortgage program that has a down payment requirement that is manageable for you. However, some home buyers will overlook the costs that they are responsible for at closing. The good news is that there are some steps that you can take to keep these costs to a minimum.

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