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Category | Mortgage Basics

Mortgage Interest Rates and Inflation: Causes of Inflation

Before we discuss mortgage interest rates and inflation, we must all first agree on what the term ‘inflation’ means. Many believe it to mean the increase of prices in the shops, but that is just a symptom. You should look upon it as being a reduction in the value of your dollar, so you have […]

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Mortgage Options: Different Types of Mortgage Loans

There are several mortgage options open to you when you are buying your home. The different types of mortgage loans available each have their own benefits and disadvantages according to your personal circumstances. Here are four types of regular mortgage options that you can consider when buying property. Fixed Rate Mortgage With a fixed rate […]

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Second Mortgage or Refinance: Benefits of a Second Mortgage

A second lien is also known as a second mortgage. It is different from refinance in that your mortgage arrangements remain constant, but you pay an extra monthly repayment for the loan. A second lien and second mortgage are fundamentally the same, and are based upon the equity of your home. Real Estate Equity Real […]

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What Is a Short Sale on a Home and How Does it Work?

What is a short sale and how does it work? How many times have we heard these questions? Too many unfortunately, although fewer now that the main effects of the subprime derivative collapse have all but run their course. It can be a complex topic to explain fully, but here are the main aspects of […]

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Mortgage Backed Securities and Mortgage Derivatives

Mortgage backed securities (MBS) are also known as mortgage derivatives and mortgage-backed bonds.  They are a form of investment that is based upon the mortgages of home buyers. As such, they affect the mortgage interest rate and can also have a significant effect on the economy if they go wrong (more on that later.) What […]

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Mortgage Underwriting: What is a Loan Underwriter?

Mortgage underwriting is an important part of the mortgage process. A loan underwriter assesses the risk of offering a mortgage to a specific individual and determining the likelihood of the mortgage loan being repaid as agreed. To carry out such an assessment, a mortgage underwriter will take certain factors into consideration. These are Credit, Capacity […]

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Gift Letters: What is a Mortgage Gift Letter?

Gift letters involve the provision of money to borrowers to enable them to make a down payment. A gift letter is generally referred to in terms of a mortgage. If you are buying a home, but lack the cash to make the required down payment, then a gift letter can be used to legally offer […]

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Reverse Mortgages: What is a Reverse Mortgage

Reverse mortgages are forms of equity release whereby homeowners over 62 years of age can utilize the equity in their home. They must be using their home as their primary residence. Also, the mortgage still owed, if any, must be sufficiently low to be covered by the proceeds of the reverse mortgage. It is a […]

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Three Ways to Improve Curb Appeal When Selling Your Home

When selling your home, curb appeal is very important. First impressions count, and potential buyers are likely to make a judgment on your home before they walk through your gate. In fact, some will look at the external appearance of your home, and either walk away or decide to reduce their intended offer if they […]

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Why Employment and Jobs Data Affects Mortgage Rates

As the number of jobs available to Americans rises and the employment rate consequently increases faster than expected, mortgage rates tend to increase with it. The reason for this is fairly straightforward, and is explained below. However, there are circumstances where this relationship can be changed, according to how the government and Federal Reserve view […]

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Mortgage Rates