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Mortgage Basics
It is important to find the right home and loan to match your
budget. Use our calculators to figure out different scenarios such as
your estimated monthly payment, how much of a home you could afford,
and amortization schedule.
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Appraisals
Usually, individuals applying for a loan are only interested in
obtaining the loan and unfortunately are not worried about the
prudence of buying the property at the agreed price. In fact, many
purchasers will try to encourage appraisers...
The Loan Process
A few pointers on what to expect once you initiate the loan process.
Credit
Why do you need credit reporting?
Insurance
When you insure your home, you should insure your home for the total
amount it would cost to rebuild your home...
Glossary of
Mortgage Terms
Shopping for a mortgage? If you are one of the tens of thousands of
today's home shoppers, you probably have discovered that mortgage
lending has a language all its own.
Adjustable Rate
Mortgages
These loans generally begin with an interest rate that is 2-3 percent
below a comparable fixed rate mortgage, and could allow you to buy a
more expensive home.
After The
Mortgage Application
Your mortgage company will begin the work of verifying all the
information you've provided. This process can take anywhere from one
to six weeks, depending on the type of mortgage your choose, whether
you're buying a home outside your local community, or a host of other
factors
Appraisal Basics
An appraisal of real estate is the valuation of the rights of
ownership. The appraiser must define the rights he intends to
appraise.
Appraisal Methods
An appraisal is an opinion of value or the act or process of
estimating value. This opinion or estimate is derived by using three
common approaches, all derived from the market.
Two Key Factors in
Qualifying for a Home
In attempting to approve home buyers for the type and amount of
mortgage they want, mortgage companies basically look at two key
factors: the borrower's ability and willingness to repay the loan.
Build Home
Equity Faster
Many borrowers use a refinance to shorten the term of the mortgage.
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