by maria | Sep 7, 2016 | Exclusive QA |
Many people flock to refinance while mortgage interest rates are low, particularly when rates are about two percentage points below their existing home loans. Other factors, like when to refinance, will depend on how long you plan to hold on to your home and whether...
by maria | Sep 7, 2016 | Exclusive QA |
With a refinance, you pay off an old loan on your home and take out a new one, usually at a lower mortgage interest rate. To refinance, you will generally need to have equity in your home, a good credit rating and steady income. You can borrow a percentage of the...
by maria | Sep 6, 2016 | Exclusive QA |
The interest rate on a purchase money note is negotiable, as are the other terms in a seller-financed transaction. To get an idea about what to charge, sellers can check with a lender or mortgage broker to determine current mortgage rates on loans, including second...
by maria | Sep 6, 2016 | Exclusive QA |
Because the interest rate market fluctuates constantly and is subject to quick movements without notice, locking in a mortgage rate with a lender certainly protects you from the time your lock is confirmed to the day it expires. Lock-ins make sense in a rapidly rising...
by maria | Sep 6, 2016 | Exclusive QA |
While these are rare in today’s mortgage climate, the main reason buyers sign on for these type of loans, which add 10 years to the traditional 30-year mortgage, is to take advantage of smaller monthly payments. According to real estate experts, the shorter-term loan...