By Louie Latour
Locking in your mortgage interest rate is how loan originators guarantee an interest rate. The purpose of the lock is to allow you time to close on the loan at the interest rate you agreed. If you are unable to close before the rate lock expires, the mortgage lender could charge you […]

By Louie Latour
Yield Spread Premium sounds scary, but it’s just a fancy name for what your loan originator overcharges you to collect a bonus from the wholesale lender. Yield Spread Premium or YSP, is easy to spot when you know what to look for. Here are the basics to help you recognize YSP […]

By Louie Latour
Mortgage lenders and brokers use interest rate lock guarantees to insure you have time to close on the mortgage without the interest rate changing. How do you know the guarantee the loan originator gives you is the same the interest rate quoted by the wholesale lender? Loan originators commonly inflate their […]

By Joseph Kocsis
An analysis conducted recently in the UK prompted the article, as it identified that fee-free UK mortgage offers are more expensive than deals with an application fee for consumers with a mortgage of 57,000 or more. This is because the interest rate is usually higher. With the average new mortgage loan now at […]

By Stephen Bush
Getting commercial real estate loans approved is almost always complex and frequently difficult. Business borrowers need to realize that there are several commercial mortgage loan situations which can be especially difficult to get approved. Examples of eight difficult business loan situations are described to illustrate two key points: (1) these difficulties are not […]

By Martin Lukac
A recent survey indicates that homeowners are worried about rising interest rates, but they plan to refinance if necessary.
In the third annual homeowners study by Wells Fargo, one in seven respondents was holding an adjustable-rate mortgage (ARM).
Eighty percent of these homeowners were concerned on varying levels about future rate increases.
Over half of the […]

By John Lester
Taking a mortgage on your home is the largest and the longest debt that you will take in your life. However, investing in a house is a necessity, so you must be smart and try to see how you can save by paying more on your monthly mortgage payments. Your mortgage statement should […]

By John Lester
A mortgage is the single largest loan that you will take in your life. A mortgage extends for a minimum of 15 years and a maximum of 30 years. To take on such a large debt you must be aware of your financial capability and future liabilities.
Why should you want to know your […]

By John Lester
Why would you want to know the size of your loan?
It is simple. You earn a fixed amount every month and you have fixed monthly living, food, and other expenses. If you take a mortgage, you have to make a monthly repayment from your monthly income. Therefore, it is imperative to calculate your […]

By John Lester
Why do I want to know about refinance?
Here are some of the basic reasons to consider refinancing your loan

Your current interest rate is higher by more than 1% of the current rates.
You want to move from an adjustable to a fixed rate of interest.
You want to cash in on the […]