By Magalie Noel One of the most common things that borrowers ask lenders is what their rates will be. The rates a lender has is very volatile, it is not always the same. So the lender will always have to wait via fax, E-mail or a secure website for the rate sheet that comes from [...]

By Glenn M Keller Sometimes potential homebuyers have made a few mistakes in the past. Now they are in good financial shape, ready to buy a new home and find out those mistakes have proven to be costly ones. What to do? Well the average person who decides now he is ready to buy his [...]

By Michael Hanna With most buyers borrowing well over 100,000 to buy their property, lenders’ exit fees – usually in the region of 50 to 300 pounds – are a tiny percentage of the overall mortgage costs. Yet these penalties have created so much anger, that some borrowers have taken on the big lenders – [...]

By Robert Campbell For most individuals, a house is the most expensive acquisition that a person makes in his lifetime. More often than not the house is purchased on money borrowed from professional lenders. It is therefore imperative to know exactly what one is in for when one is getting their first mortgage. Broadly speaking, [...]

By Olga Moe Three years ago, when my son graduated and left our beautiful home, I started to worry about the future. At age 59, I knew that I would probably never generate more than the 9.00 per hour which had been my lifetime earning capacity. I had dipped into my home equity twice in [...]

By Gerry Lewis Points are deductible on your Schedule A, 1040 IRS return. That’s good, if you paid them and know what they are. As always, there’s something more to learn. A discount point is an additional fee you pay to your mortgage lender in return for a reduced interest rate. What this means in [...]

By Rebecca Oconnor According to Barry Donovan, a financial consultant and writer for Nationwide, “One of the most powerful cash vehicles driving our economy is the new and improved home equity loan.” If you haven’t put the equity in your home to work for you yet, you probably have a few questions about taking out [...]

By Louie Latour Mortgage cycling is a repayment strategy that can repay your mortgage in as little as ten years. This program involves making large equity payments every six months; if you don’t have the cash on had to do this, there is a way to use home equity loans to cycle the payments. Here [...]

By Martin Lukac Freddie Mac announced on Tuesday that it is expanding available mortgage products for lenders through its online Selling System. The new options will give lenders more flexibility, borrowers more buying power and lower monthly payments. The web-based Selling system will offer a number of 40-year mortgage products, including a standard 40-year fixed-rate [...]

By Martin Lukac Mortgage lenders are offering a new product to assist home buyers in purchasing a home at an affordable monthly payment — the 50-year mortgage. A recent report in USA Today, shows that a handful of lenders have started offering 50-year adjustable-rate mortgages to buyers who need to have a low monthly payment. [...]