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Category | Mortgage Basics

Switching Jobs Can Affect Your Home Loan Prospects

If you’re about to switch jobs while you have a home loan application in progress, have no fear as long as you keep your lender informed. Be straightforward with your lender about change of jobs or pay structures and are able to submit relevant paperwork, then you will likely still be eligible for a mortgage. Always […]

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Credit Card Debt: Three Tips To Help Reduce It

More always seems to be better in this age of materialistic consumerism. Who doesn’t dream of owning a lovely house and a swanky car? Knowing how to arrange money and keeping your head above the waters of credit card debt is not a skill that is taught in schools or a requirement to apply for […]

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Why Employment And Jobs Data Affect Mortgage Rates

Features of the main financial sectors of the economy are deeply interlinked. When you look at the figures for one type of activity in the economy, it may be affected by another and directly influence yet another piece of data in turn. So it is with Employment and jobs data and the influence they have […]

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Three Additional Ways To Respond To A Low Appraisal

The number one cause of cancelation of a real estate sale is the lender receiving a low appraisal in response to the loan application. Three of the most basic responses are to dispute it, renegotiate with the seller and change lenders. These are not the only options, there are other, more daring tactics to help […]

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What Is The Federal Reserve: Federal Reserve System Basics

Overview The central bank of the United States that is entrusted with the responsibility of making sure the nation has a flexible, safer, and stable monetary and financial system is known as the Federal Reserve or just the Fed. The Congress created this system after President Woodrow Wilson signed the agreement that made the Federal […]

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Should A Mortgage Be Cleared On Retirement?

There are many people who, upon retirement, receive a lump sum payment. While it could be very tempting to pay off the mortgage, is this really a wise move? The lump sum payment could also be used to pay off loans which have been taken out in the past and which have high interest rates. […]

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The Mortgage Application Process In Four Stages

The mortgage application process is all about the paperwork and you can generally determine your eligibility for a home loan in advanced of making any decisions on a particular property. There are a few things that you can do that will put you in a position of strength at the bargaining table. One of the […]

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Mortgages For Retired People: Can Retired Home Buyers Get A Mortgage?

Ever wondered what a person should do who is currently retired from his or her job but always had a dream of buying a home? If he or she is not actively earning, then is that person eligible for a loan? The answer to this question is very comforting. As per the Equal Credit Opportunity […]

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Three Tips To Close Your Home Loan Faster

There are two ways to look at how you close your home loan. When you are taking out a home loan to buy a home, the term closing means the initial setting up the loan with your bank, as part of the escrow process. Indeed you can close your home loan faster by taking precautions […]

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Private Mortgage Insurance Basics

Do You Need Private Mortgage Insurance? Good practice in real estate lending and homeownership suggests that the homeowner ought to have at least a 20% equity stake in their home. That is all well and good but it would put ownership out of the reach of most people in the country. As a nation we tend to […]

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