3 easy ways to help you find a good mortgage rate

A good mortgage rate really matters as it means less money to be paid every month and saving thousands of dollars in form of interest. Having said that, it is not easy to get a low mortgage rate as there are various factors that affect the mortgage rate,┬ásuch as the credit score and from whom […]

3 significant factors that determine your mortgage rate

When you are purchasing a house, you are always on the hunt for the lowest mortgage rate. If you are keeping a track of the current mortgage rates, then you might have noticed that the rates never stay the same. So, how do you get the lowest possible mortgage rate? Many people have a misconception […]

Points to consider before availing cash out refinance

A cash-out refinance replaces your current mortgage with a new loan. You can pay off your current debt obligation and use the balance amount to gain additional funds that can be used for home renovations. The balance amount is made available from the home equity. It is not usual for people to opt for a […]

Pros and cons of cash out refinance

Refinance is a mortgage taken to replace the existing home loan. A cash-out refinance gives you the option to replace your current debt obligation with a high value on the existing mortgage. The difference in amount is available for withdrawal in cash. A cash-out refinance is generally taken to pay for home improvements or can […]

Important factors that affect your mortgage interest rate

When one is on a lookout for a mortgage loan, their priority is finding the lowest rate of interest. And why wouldn’t it be, an interest is one of the biggest cost a debtor has to incur. Although it is quite tough to anticipate the exact rate of interest you can receive, you can always […]

How does economic activity affect the mortgage rates

You might wonder what goes behind the forever’ fluctuating mortgage rates. The answer would be inflation rates of the country and the financial policies set by the treasuries and the Federal Reserve. How? These factors along with few other fiscal factors, directly decide how much investors are willing to pay in order to invest in […]

Breaking down the reverse mortgage calculation

Home Equity Conversion Mortgage (HECM) program is the most popular of the reverse mortgage program due to the fact that this program is attested and backed by the federal government. The reverse mortgage rates under the HECM model are less expensive compared to other programs in the market. This is because of the government participation […]

Factors involved in the formula calculation of HECM reverse mortgage loans

While there is no set formula that can equally assess each individual under the Home Equity Conversion Mortgage (HECM) program for reverse mortgage, the factors used in the calculation of the eligibility amount remain as constants. While the use of an online reverse mortgage calculator can give an estimate of the grantable amount, only reverse […]

Factors to consider before applying for mortgage loans

An individual’s eligibility for mortgage loans depends on one’s bank balance and financial situation. Many individuals commit the error of applying for mortgage loans without any research and end up disappointed due to their applications being completely rejected or end up with a loan grant that is way lesser than the one they had expected. […]

How to plan for the pre-payment of mortgage loans

The process of applying for a mortgage and then getting it sanctioned, as well as keeping up with timely payments is definitely a hard task. Moreover, a substantial chunk of the debtors’ money goes into these payments and the remaining income is at most times used up completely for other personal expenses. Since mortgage loans […]