Should I Pay Points For A Lower Rate?

To understand what is a subprime mortgage, we need to talk about the subprime definition. Subprime means something that is not in the best conditions and, in this scenario, it refers to a ...

Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...

Wondering what is the effect of paying extra principal on a mortgage – if there’s any? Well, it actually does have a big effect and – if you do have available funds to do ...

Are you like “OMG! I forgot my mortgage payment! What happens now? Will I have to pay double the value I had to pay?! Are the cops coming to get my house?!” Calm down. ...

The time is here: you decided you will buy a home. Congratulations! But soon after you get motivated to do, conscience kicks in and makes you ask yourself: how much income do I need to buy ...

This calculator figures your principal balance after any number of payments. Input the beginning principal amount, interest rate, length of the loan, and the number of payments to analyze. ...

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mortgage under certain conditions. ...

You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money. Well, that’s a funny question… if you ...

The array of laws and regulations dictating the information that must be disclosed to mortgage borrowers, and the method and timing of disclosure. ...

Also called variable or flexible rate mortgage, an adjustable rate mortgage (ARM) is a mortgage where the interest rate is not constant, but changes over time by the mortgage lender. ...

A mortgage payment that is more than 30 days late. ...

A mortgage on which half the monthly payment is paid twice a month. It should be called a 'semi-monthly mortgage' but market practice often trumps logic. In contrast to a biweekly, a ...

A method of selling real estate where the buyer of the property agrees to become responsible for the repayment of an existing loan on the property. Unless the lender also agrees, however, ...

A mortgage on which the payment rises by a constant percent for a specified number of periods, after which it becomes fully-amortizing. ...

A very large increase in the payment on an ARM that may surprise the borrower. The term is also used to refer to a large difference between the rent being paid by a first-time home buyer ...

A measure of interest cost on a reverse mortgage. ...