Mortgages

Although no person signs a mortgage with the intent on abandoning their home, it can happen when unexpected hard-times arise. The absolute most important thing to do in times of distress is to communicate with your mortgage lender.

Two other important concerns which commonly arise over the years of paying down a mortgage are how to remove the private mortgage insurance (if applicable) and determining if you should refinance your home loan.

Once closing has taken place and the property has been transferred to you, the mortgage is just getting set-up and is being processed. So you’re probably wondering when your first monthly mortgage loan payment will be due and where you’ll need to send your payments to from now on. We’ll address both of these questions [...]

Congratulations! You have made it to closing. While the finish line is in sight, it’s not yet the end. After your mortgage loan is approved, the closing date should be just around the corner. Here is what you can expect a few days before closing, at the closing table, and after the transaction has been [...]

Once the mortgage application has been turned in, many applicants often wonder what the lender will do with their application, and if there are any additional steps they should take while waiting for the mortgage lender’s decision.

Once you’ve reviewed the variety of lending options, and what factors will go into your mortgage payment, it is time to apply for the mortgage. Before heading in to apply for your mortgage, make sure you are aware of the paperwork that most lenders are going to require you provide for your application:

The next issues to explore before applying for a mortgage are the factors which will influence your upfront costs, and your monthly payments. Down Payment Your down payment will ultimately influence the interest rate offered by the lender, as well as your ongoing monthly payments.

After deciding on the best type of mortgage for your situation, and choosing a lender it is necessary to understand what factors will influence your monthly payment, and what one can do to ensure they reach the best payment structure for their new home.

Just as the variety of mortgage options has increased overtime, as has the variety of sources for the mortgages. It is no longer just the neighborhood bank who supplies mortgage loans. Regardless of where you go, there are a few questions that any potential borrower should ask the lender:

Once you have decided in favor of buying your home (after reading our Rent vs Buy article), the next decision one must make is where to obtain the mortgage, and the type of mortgage best suited for their situation. With the ever increasing complexity and variety in mortgage options, it is easy for one to [...]