Can I borrow money for a downpayment on a house? Mortgage Guide On the down payment front, VA loans are even better than FHA loans they require no money down,...
Is it better to get a home equity loan or line of credit? Mortgage Guide However, a home equity loan gives borrowers a fixed amount of money in one lump sum ins...
Should I pay off my mortgage or save? Mortgage Guide The simple rule of thumb is: If you can get a higher rate on your savings than you pay on your mortgage, sa...
What if I can't afford closing costs? Mortgage Guide If you can't get the seller to pay your closing costs, ask your lender to include all or a portion of the c...
How much can I borrow from my house? Mortgage Guide If your lender advances up to 80 percent of the value of your home and the house is worth $300,000, your max...
Can I take out a mortgage on a paid off home? Mortgage Guide If your home is paid off, you can apply for a home equity loan without much hassle, she says. ......
What is the difference between a title and a deed? Mortgage Guide Title is the legal way of saying you own a right to something. ... Deeds, on the other hand, a...
Which is better mortgage or home loan? Mortgage Guide Yes, it is. Since the interest rate for a home loan is lesser than a mortgage loan, a home loan is more af...
Is it difficult to get a home equity loan? Mortgage Guide Is it difficult to get a home equity loan? If your credit score is lower than 620, it may be difficult...
What happens when you mortgage your house? Mortgage Guide When you get a mortgage you will sign legal documents known as a mortgage note that promise you will r...
Can I borrow money for a deposit on a house? Mortgage Guide Mortgage lenders generally do not like mortgage deposit loans, so they are more likely to accept you...
Will a Heloc lower my credit score? Mortgage Guide However, it's important to manage the amount of credit you have since a HELOC will have a much larger balance...
What happens when mortgage is paid off? Mortgage Guide Once your lender receives the final payoff amount from you, the loan is paid off in full. ... The release...
Can you borrow money for closing costs? Mortgage Guide Unfortunately, you can't take a cash advance on your credit card to pay for closing costs. The way the ba...
Is it a good idea to take equity out of your house? Mortgage Guide This is a good plan if interest rates are currently lower than the rate you have on your old...
Can you take out a mortgage on a house you own? Mortgage Guide A house that is owned free and clear can still be refinanced. ... In a traditional cash-out refin...
Can you get a personal loan to pay off a mortgage? Mortgage Guide Using a personal loan to pay off the mortgage generally isn't recommended because of higher in...
What are the disadvantages of home equity loans? Mortgage Guide One of the main disadvantages of home equity loans is that they require the property to be used...
Who holds the deed when you have a mortgage? Mortgage Guide A mortgage grants ownership of your home to the lender which will transfer the title back to you aft...
Can a personal loan be used to buy a house? Mortgage Guide Although it is always better to save a deposit of your own, it is possible to use a personal loan as...
Can you pay off a Heloc early? Mortgage Guide At any time, you can pay off any remaining balance owed against your HELOC. Most HELOCs have a set termwhen the t...
Is it smart to pay off mortgage? Mortgage Guide Answer: Using cash to pay off high-fee credit card balances is another good reason to temporarily keep some mort...
What type of mortgage is an ARM? Mortgage Guide From Wikipedia, the free encyclopedia. A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mort...
Why do you need a mortgage broker? Mortgage Guide Advantages of Using Mortgage Brokers - They are mortgage experts who provide different lenders, loan types and...
Are mortgage ARMs a good idea? Mortgage Guide Lower rates help you build equity faster. The obvious advantage of an adjustable-rate mortgage is that they carry...
Who offers no closing cost mortgage? Mortgage Guide Many lenders offer what's called a no closing cost or zero closing cost mortgage. With these mortgages,...
What is the difference between a mortgage broker and a mortgage lender? Mortgage Guide What is the difference between a mortgage broker and a mortgage lender? A...
What is a good interest rate for a 30 year fixed mortgage? Mortgage Guide What is a 30-year fixed mortgage? A 30-year fixed mortgage is a loan whose interest ra...
Can you refinance an arm to another arm? Mortgage Guide Refinance Your ARM To Another ARM: It's A Valid Strategy - Typically, interest rates for the popular 5/1...
How much do mortgage brokers get paid? Mortgage Guide Upfront commission is the commission a broker receives for introducing the home loan customer to the lende...
Is a 7 year arm a good idea? Mortgage Guide A 7-year adjustable rate mortgage (ARM) could lower your monthly expenses and give you options down the road. ... Bu...
What is the difference between a bank and a mortgage broker? Mortgage Guide A mortgage broker is basically a middleman. Brokers work with a variety of lenders t...
Who pays a mortgage broker? Mortgage Guide Unlike loan officers, mortgage brokers don't work for banks. They operate independently and must be licensed. They ch...
Which is better arm or fixed mortgage? Mortgage Guide This means that the monthly payments can go up or down. Generally, the initial interest rate is lower than...
Can you buy a house with no closing costs? Mortgage Guide Before you can get the keys to your new house, you'll first have to pay closing costs. Closing costs a...
How do I choose a mortgage broker? Mortgage Guide To get a jump-start on the mortgage loan process, use these five tips to find the best lender for you.-Get you...
What is today's mortgage rate? Mortgage Guide The average 15-year fixed mortgage rate is 3.17 percent with an APR of 3.35 percent. The 5/1 adjustable-rate mortg...
Should I refinance out of an ARM? Mortgage Guide While refinancing your ARM has a lot of potential benefits, there are some downsides to consider as well. Upfro...
Do I need to use a mortgage broker? Mortgage Guide Although lenders and brokers must offer advice in almost all cases, you might be able choose to reject the ad...
Do mortgage brokers make good money? Mortgage Guide Mortgage brokers work with homeowners and homebuyers. ... Like most sales professionals, mortgage brokers ch...
Is a 5'1 arm a good idea? Mortgage Guide The advantage of a 5/1 ARM is that during the first phase, you get a much lower interest rate and payment. If you plan...
Is it better to use a mortgage broker or lender? Mortgage Guide While using a mortgage broker seems like it would save you money because they have access to man...
Why is an arm a bad idea? Mortgage Guide Adjustable-rate mortgages aren't for everyone, and can be a very bad idea for some people. ... The advantage of an ARM...
How much does a mortgage broker make per loan? Mortgage Guide On average, this compensation can range from roughly 50 basis points (0.50% of the mortgage amount...
Is buying mortgage points worth it? Mortgage Guide Paying points to get a lower rate on a mortgage is almost always a losing proposition. That's because most ho...
Should I refinance into an ARM? Mortgage Guide Should I refinance into an adjustable rate mortgage. ... But there can be times when an ARM is a smart choice. St...
Do mortgage brokers assume risk? Mortgage Guide Mortgage banks assume all risks of loans they make, should the loans develop problems. Correspondent lenders do...
Can mortgage brokers work from home? Mortgage Guide Mortgage brokers often work out of their home or car, visiting offices or homes of clients while completing...
What is a 15 1 ARM mortgage? Mortgage Guide A 15/15 ARM offers a unique opportunity to secure a lower interest rate than a 30-year fixed rate mortgage for a lon...
Is mortgage broker a good career? Mortgage Guide Is Mortgage Broker a Good Career? ... According to the Bureau of Labor Statistics (BLS), the career will have a...
Can you refinance an ARM loan? Mortgage Guide Refinancing can be done for many reasons, but switching from an adjustable-rate mortgage (or ARM) to a fixed-rate...
