Archive | Mortgage Loans

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4 Tips To Negotiate For A Better Loan

Here are some simple tips to help you negotiate a better home loan with the lender. Get Multiple Quotes (1) If your lender is unwilling to lower the interest rate you should try and get different quotes from other lenders. The odds are that you’ll find a better offer someone else. Revealing this to your […]

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Reverse Mortgage – All You Need To Know

What Is A Reverse Mortgage A reverse mortgage, also called Home Equity Conversion Mortgage (HECM), is available to homeowners who are at least 62 years of age or are within three months of their 62nd birthday. The owner can use the equity in his home to get money from a lender. In a reverse mortgage, […]

What Are Assumable Mortgages

Assumable mortgages mean that the current mortgage can be assumed and undertaken by another person who buys the home from the current owner under the same terms and conditions or a variation in the terms and conditions if stipulated in the mortgage contract. In eligible mortgage the home buyer assumes all responsibility for the sellers […]

How To Choose The Best Fixed-Rate Mortgage

We have already spoken about what factors to consider when deciding between a fixed rate mortgage and an adjustable rate mortgage. If you are still stuck with this decision, you should read that section again. As mentioned before if you want peace and security of mind, you would probably be better off with a fixed-rate […]

Annual Percentage Rate, APR of a Mortgage

The truth in lending now requires that lenders calculate an annual percentage rate when quoting the interest rate for a home loan to the borrower. That annual percentage rate, APR, is supposed to take into consideration the entire cost of the loan which includes the loan origination fee, processing fee, closing costs and any other […]