Mortgage term. Mortgages are generally available at 15, 20, 30 or even 40 year terms. The longer the term, the lower the monthly payment if the same amount is borrowed. However, you pay more interest overall if you borrow for a longer term. Fixed or adjustable interest rates. A fixed…
A bankruptcy filing delivers a devastating blow to your credit and FICO score, but it doesn’t mean you have to wait 10 years before you can qualify for a mortgage. Many consumers who have filed for bankruptcy have been able to obtain a mortgage, although it is often at a…
Less is more If you’re new to investing or real estate and don’t know the first thing about interest rates, here’s a good tip: the higher the interest rate, the more expensive it’s going to be. High interest rates mean you will have to pay back more on the money…
It takes courage, time, and persistence to become debt free… and it is possible. These eleven steps will put you on the right track. Face the situation. Stacks of papers and unopened bills will not improve the situation. You are not the only person who has gotten in over their…
Not all mortgage lenders are the same. If you decide to seek the help of a lender when buying a home, you need some good information before you make any moves. Picking a lender is one of those critical issues that can cost or save you thousands of dollars. There…
1. How Much Will I Save on My Interest Rate? It is a fact that 15 year mortgages will provide you with a lower interest rate and overall lower interest payment. However, there is a trade off, be prepared for a larger monthly payment. 2. Should I Do A 30-Year…
There may be incredible bargains on properties that have been foreclosed and are now owned by lenders. There may also be pitfalls. This brochure may help you avoid the potential problems and make your purchase go well. Here are ten questions to get you off to the right start: 1.…
