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One of the most common questions that many borrowers have is whether or not they should go with a fixed rate mortgage or an ARM. An ARM is the abbreviation for an adjustable rate mortgage. Typically, an adjustable rate mortgage is one that starts out with a very low interest rate but can adjust upward [...]
You said you wanted to refinance your mortgage, right? Well, be prepared, there are many options available, and unlike your favorite cap, there not all one size fit all. This excellent list, which was researched carefully, includes everything, even the fine print of each term. Before you make a call to a mortgage professional check [...]
Before you go applying for mortgage rates or even take a car ride to find your dream home, it’s important to know exactly what you can get approved for. 1. Work history. Nothing is more appealing to a mortgage lender than a steady source of income. That means you can pay your monthly mortgage payment. [...]
This economy has a lot of people asking a lot of questions! It seems like every other day the Federal Reserve makes an announcement the economy is “slowing”, all though truer along the Midwest regions. These announcements come as mortgage rates are at record lows, a real opportunity for those homeowners looking to refinance or [...]
Your ready! The time has come, your savings for the down payment, check, credit score is healthy, and your search for the perfect house is complete. Now you have to figure out the hard stuff, but you saved and kept your credit healthy, thats the hard stuff. This is a common feeling for many homeowners [...]