Mortgage and Financing Information
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Mortgage and financing options abound creating numerous choices to help us afford more and more house. Make sure you understand your options and choose a product that matches your plans for the house and your budget.
Credit Scores, Debt to Income Ratios, Adjustable vs. Fixed Rates, and mortgage insurance are just some of the terms and issues that you should understand.
The Murky World of Credit Scores
Consider your credit history as important as your job resume. A good resume can land the job you want, while a good credit history can help you land an auto or home loan at the best rates. Read more about Credit Scores.
Adjustable Rate Mortgage (ARM) Options Explained
Mortgage options are getting more complicated, and the sheer number of mortgage products continues to befuddle home buyers. Fixed rate, adjustable rate (ARM), interest only, negative amortization, and more mortgage types are out there, and many can be combined into one loan product. Adjustable Rate Mortgages
Save Hundreds a Month with a Home Appraisal
"Homeowners can order their own appraisals," says Sandy Struss, and one reason to do that is to remove your PMI (mortgage insurance). "You can save a couple hundred of dollars a month by taking the PMI off your home. But, you need to be proactive and contact your lender." She recommends that you first get a letter from you lender requesting an appraisal for the purpose of removing your PMI.
