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...
by maria | Sep 6, 2016 | Exclusive QA |
The 15-year mortgage offers you a chance to save thousands of dollars over the life of the loan. This is because the interest rate is typically lower and amortization is half that of the 30-year loan, which means that the total interest paid on the 15-year note, as...
by maria | Sep 6, 2016 | Exclusive QA |
Long-term, fixed-rate mortgages are preferred by most homebuyers because they offer security and stability. The interest rate does not fluctuate over the life of the loan, so the total amount of principal and interest always remains the same. The monthly payment can...
by maria | Sep 6, 2016 | Exclusive QA |
It depends who you negotiate with. Some lenders are willing to haggle on both the loan rate and the number of points, but this is not typical among more established lenders. This is why it pays to shop around for the best loan rates. And know the market so that you...