Mortgage Information

The Three Largest Factors In Your Interest Rate


There are three major factors that affect how much you pay for a loan. Understanding these factors can save you time, money and frustration.

Home Ownership, Financial Freedom, and Benjamin Franklin


1. ON BENJAMIN FRANKLIN:

Mortgage Consumer Bill of Rights


This bill of rights was laid out by Franklin Raines, president of Fannie Mae on January 15, 2000. The Mortgage Consumer Bill of Rights is a pledge fof $2 trillion over 10 years to help consumers gain access to home ownership. It also includes an “Open Book” approach to underwriting where customers can see all of the factors that go into evaluating their creditworthiness and the process of applying for a home loan.

How Good a Deal Is Your Banks Mortgage Insurance Plan


When you go to the bank to get a mortgage, youll inevitably be asked to take out mortgage insurance. The idea behind mortgage insurance is simply that if something happens to you or your spouse then your loan will be paid off which is good news for your family and the bank. Most financial institutions act like they are doing you a favor by offering you mortgage insurance through their own group plan, but are they

Wealth Creation and Mortgage Planning - Two Great Tastes that Taste Great Together


What if I were to tell you that almost everything you have been told about what to do with your home has been absolutely wrong and that one of the worst ways to build wealth is through your home And what if I further went on to show you that anyone who perpetuates this myth probably is not your best source for accurate financial information

How Creditors Measure Your Credit Rating


Creditors will measure your credit rating based on the following three main things. Capacity Collateral Character

No Income Verification Home Equity Loan


A no income verification home equity loan is a second mortgage loan that does not require you to provide income documentation to qualify for the loan. This type of loan is great for homeowners who need a home equity loan but have hard to document income.

How Creditors Measure Your Credit Rating


Creditors will measure your credit rating based on the following three main things. Capacity Collateral Character

Stop Debt Collectors


Can you stop debt collectors . . .You better know you can

Get Your Credit Score To Soar In The Twinkling of An Eye.


Ever wonder how a creditor decides whether to grant you credit For years, creditors have been using credit scoring systems to determine if youd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help creditors evaluate your ability to repay home mortgage loans. Heres how credit scoring works in helping decide who gets credit -- and why.

Credit Repair Companies and Credit Counseling


Lets be crystal clear, right up front. Paying someone to "fix" your credit is a waste of your time and money, since the negative issues that are temporarily removed from your file will only reappear again in a couple of months.

How Much House Can You Afford


Your mortgage calculator says: probably a lot less than your mortgage banker says you can.

Getting Pre-Approved for a Home Loan Is One of the Best Ways to Get a Leg Up on the Competition When Shopping for a Home


The real estate market is soaring because of low interest rates that have brought home buying to average Americans. All over the country, more renters are buying and homeowners are upgrading their properties. In this hot seller’s market, a pre-approval letter from your mortgage lender can help you secure a winning bid on the home of your dreams.

Secondary Mortgage Market Sets the Standards and Practices for Mortgage Lending


The Secondary Mortgage Market is responsible for the setting many of the rules and common practices that determines who gets a home loan. The secondary market includes Fannie Mae Federal National Mortgage Association or FNMA, Freddie Mac Federal Home Loan Corporation or FHLMC, Ginnie Mae Government National Mortgage Association or GNMA and a variety of other investment oriented institutions.

Where Can I Get a Home Loan Here Are The Top 5 Mortgage Lending Institutions


There are hundreds of sources for home loans online and right in your neighborhood. Banks, Credit Unions, Mortgage Bankers, Government Agencies and Private Sellers all offer different sources of financing for anyone shopping for a mortgage.

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