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Last month’s slowing in mortgage lending could spell bad news for borrowers, one firm has claimed.
Price comparison service moneysupermarket has asserted that the mortgage industry is shrinking - meaning that lenders are looking elsewhere to cut costs and increase profits, including in lending such as personal loans.
The company was reacting to the latest figures from [...]
Creative financing allows people, who might not otherwise qualify for a mortgage, buy a home. It can also be used to secure lower payments, which can save you money if you plan to sell or refinance soon. With creative home loans, it still is important that you shop lenders to get the best deal.
What Is [...]
Mortgage lenders in the UK are beginning to introduce non-refundable application fees as a way to bolster their revenue. By applying a non-refundable fee to a mortgage application, the lender will ensure that they receive some form of revenue regardless of the outcome of the mortgage application.
Historically, mortgage applicants in the UK have been refunded [...]
We hear everyday in the news the mortgage fraud horror stories, but if you listen carefully you will see that it is not just the buyers who are doing things wrong and illegal. It is also happening on the part of the lenders. And if you don’t know much about mortgages then you could fall [...]
Homeowners in Maryland enjoy a faster growing real estate market than many states in the US. With the average home appreciating 20% or more, even when other states are experiencing foreclosures and depreciation - home values hold steady.
This is great news for Maryland homeowners since it allows them to have alot of equity in their [...]
A Self-certification mortgage is where no proof of income is asked for by the mortgage lender. Self certification mortgages require the borrower to prove that they have the funds in their bank account to pay the monthly mortgage repayments.
When applying for a mortgage, there may not be any way to provide full and verifiable proof [...]
If you have been in your home for a number of years and you have established some equity, you may be considering liquidating some of that equity. A great way to do this would be to go with a Home Equity Loan.
A home equity loan allows for you to borrow off of the equity you [...]
Refinance Or Not?
There are basically two types of mortgage loans: Adjustable and fixed rate. So it will all depend on the moment you took the mortgage, whether you have one or the other. When the interest rates are low, you should prefer a fixed rate mortgage loan.
When they are high, on the other [...]
As with any other type of mortgage, there are some benefits and some drawbacks to having an interest-only mortgage. It’s in your best interest to know about them and make an educated decision based on this information.
Interest-only mortgages have a few disadvantages to them. These are the most common concerns formulated around an interest-only mortgage:
1. It’s [...]
The end of the year witnessed further declines in the national mortgage interest rate. If you take the time to check out what the present average refinance mortgage interest rate is and have determined that now would be a good time for you to refinance your home, then it is definitely something that would [...]