Tag: <span>#MortagePayment</span>

Post

TO RENT OR BUY, THAT IS THE QUESTION

An age old question many people face; continue to rent or  commit to buying a home? Most people do a financial analysis to see if this makes sense. Will the mortgage payment be less than the rent payment? Whether yes or no, they should consider that the principal portion of the mortgage payment is used...

Post

PAYING DOWN A MORTGAGE: EXTRA PAYMENT TO PRINCIPAL

  Everyone knows if you make extra payments on your mortgage, you can pay it off sooner, but, how much quicker do you pay it off by making the extra payments? We have a calculator on our website which shows you how much quicker you can payoff the mortgage by making an extra payment. If...

Post

MORTGAGE, REFINANCING AND SKIPPING PAYMENTS

You may have heard about skipping a payment, or maybe even 2 months payments, when you refinance? Is skipping a payment tricking the system, or getting away with something? No, in fact, you may be front-loading more cash at closing.  

Post

LOW RATE ADS

You’ve most likely heard on the radio lenders boasting they can get you approved in minutes or days by simply going to the website and clicking a button. Is that all it takes nowadays to get approved and to go to closing? Can you close the loan right after you are approved in mere minutes?...

Post

CALCULATING MORTGAGE INSURANCE

If you are applying for a conventional loan and put less than 20% down on a home, the lender will require you to pay mortgage insurance. The amount of mortgage insurance will depend on your credit score, what you are purchasing (e.g. condo, single family residence, etc.), the purpose (primary residence, second home, or investment...

Post

WHY WOULD ANYONE WANT ONE?

Hard Money loans are usually obtained by borrowers who cannot qualify or the property does not qualify for conventional financing; many people doing fix and flips obtain these loans. The interest rate and costs for these loans is higher than what you can get conventionally. The reason is that there is more risk to the...

Post

PROMISSORY NOTE

You may hear your lender ask about the Note, or if you reviewed the Note. The Note, in this sense, is not a musical score, or something written on a post-it; it is the Promissory Note entered into between the lender and the borrower. It provides that the lender will lend a certain sum to...

October 8, 2019October 8, 2019 In Note