Tag Archives: Mortgage Information
Where Does the Money Come From for Mortgage Loans?
In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had...
The Biweekly Mortgage – Who Needs It?The Biweekly Mortgage – Who Needs It?
Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your paymen...
Land Contract
An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement...
The No-Cost Thirty Year Fixed Rate Mortgage
There really is no such thing as a no-cost mortgage loan. There are always costs, such as appraisal fees, escrow fees, title insurance ...
Which ARM is the Best Alternative?
How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan wi...
The Advantages of Different Types of Mortgage Lenders
What kind of lender is best?
If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he ...
WHAT’S A FICO®?
What is a FICO® Score?
FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used b...
Types of Mortgage Lenders
Mortgage Bankers
Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold ...
Adjustable Rate Mortgages – The Basics
An adjustable rate mortgage (ARM) has an interest rate that fluctuates periodically. This is in contrast to a fixed rate mortgage, whic...
Adjustable Rate Mortgages – The PROS & CONS
Now that you know what an ARM is and how it works, you may be wondering what the advantages and disadvantages are. So let’s explore tha...