Just Home Mortgages » Home Loans http://www.justhomemortgages.com One of the largest collections of current information and news about home mortgages. Tue, 07 Sep 2010 23:18:19 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 What interest rate will you pay on your loan? http://www.justhomemortgages.com/2009/02/04/what-interest-rate-will-you-pay-on-your-loan/ http://www.justhomemortgages.com/2009/02/04/what-interest-rate-will-you-pay-on-your-loan/#comments Thu, 05 Feb 2009 00:18:30 +0000 webmaster Find out what factors determine the interest rate you’ll be offered on a home loan. If you’ve decided to buy a home or refinance your mortgage, you may be puzzled by the different interest rates you’ve seen advertised for home loans. You’re not alone: Many home buyers and homeowners…

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]]> http://www.justhomemortgages.com/2009/02/04/what-interest-rate-will-you-pay-on-your-loan/feed/ 0 Ask an expert: Should you pay discount points on an ARM? http://www.justhomemortgages.com/2009/01/25/ask-an-expert-should-you-pay-discount-points-on-an-arm/ http://www.justhomemortgages.com/2009/01/25/ask-an-expert-should-you-pay-discount-points-on-an-arm/#comments Sun, 25 Jan 2009 21:15:31 +0000 webmaster Q: Does it make sense to pay discount points on an adjustable-rate mortgage? A: When you pay discount points, you pay money, often upfront, to reduce the interest rate on a mortgage and lower your monthly payments. With an adjustable-rate mortgage, paying points will reduce o…

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]]> http://www.justhomemortgages.com/2009/01/25/ask-an-expert-should-you-pay-discount-points-on-an-arm/feed/ 0 That low interest rate may be too good to be true http://www.justhomemortgages.com/2009/01/25/that-low-interest-rate-may-be-too-good-to-be-true/ http://www.justhomemortgages.com/2009/01/25/that-low-interest-rate-may-be-too-good-to-be-true/#comments Sun, 25 Jan 2009 21:15:31 +0000 webmaster A ‘teaser’ or ‘introductory’ interest rate that looks attractive now could cost a lot more later. "2.9 percent for three months!" "Your rate could be this low!" "Pay just $325 a month!" You’ve seen the ads, but are these home loan offers a good deal? The answer natur…

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]]> http://www.justhomemortgages.com/2009/01/25/that-low-interest-rate-may-be-too-good-to-be-true/feed/ 0 Borrowing resolutions: Easy tips for trimming your borrowing costs http://www.justhomemortgages.com/2009/01/25/borrowing-resolutions-easy-tips-for-trimming-your-borrowing-costs/ http://www.justhomemortgages.com/2009/01/25/borrowing-resolutions-easy-tips-for-trimming-your-borrowing-costs/#comments Sun, 25 Jan 2009 21:15:31 +0000 webmaster Is buying a new home on your list of "to dos" in 2007? Learn a few simple tips that can help cut your borrowing costs. With 2007 in full swing, you may have already started thinking about the months ahead with a New Year’s resolution of purchasing a new home. Of course, with this idea comes the excitement of owning y…

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]]> http://www.justhomemortgages.com/2009/01/25/borrowing-resolutions-easy-tips-for-trimming-your-borrowing-costs/feed/ 0 Pulling together a down payment http://www.justhomemortgages.com/2009/01/25/pulling-together-a-down-payment/ http://www.justhomemortgages.com/2009/01/25/pulling-together-a-down-payment/#comments Sun, 25 Jan 2009 21:15:31 +0000 webmaster Tips for saving for a down payment. When you venture into the housing market for the first time, you want to buy the best home you can afford. But coming up with 15 to 20 percent of your purchase price up front can be challenging. Here…

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]]> http://www.justhomemortgages.com/2009/01/25/pulling-together-a-down-payment/feed/ 0 Is a hybrid mortgage right for you? http://www.justhomemortgages.com/2009/01/25/is-a-hybrid-mortgage-right-for-you/ http://www.justhomemortgages.com/2009/01/25/is-a-hybrid-mortgage-right-for-you/#comments Sun, 25 Jan 2009 21:15:31 +0000 webmaster A hybrid mortgage can offer you the security of a fixed-rate mortgage at a lower rate. Most homeowners understand the difference between fixed-rate and adjustable-rate mortgages (ARMs). A hybrid mortgage, as its name suggests, combines the features of both. It starts off like a fixed-r…

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]]> http://www.justhomemortgages.com/2009/01/25/is-a-hybrid-mortgage-right-for-you/feed/ 0 Getting a bad credit mortgage http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-mortgage/ http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-mortgage/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Know the best way to get a mortgage if you have a low credit score. If your credit score is low, a bad credit mortgage may seem like the way to fulfill your dream of buying a house. Here are some things to consider if you are thinking of taking out a mortgage and you…

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]]> http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-mortgage/feed/ 0 Getting a bad credit loan http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-loan/ http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-loan/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Be cautious, do your homework and make an informed decision. If you are planning on taking out a bad credit loan, make sure you put some thought into your decision. Your loan payment will probably take up a considerable portion of your income for a number of y…

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]]> http://www.justhomemortgages.com/2009/01/25/getting-a-bad-credit-loan/feed/ 0 Dos and don’ts when applying for a home loan http://www.justhomemortgages.com/2009/01/25/dos-and-donts-when-applying-for-a-home-loan/ http://www.justhomemortgages.com/2009/01/25/dos-and-donts-when-applying-for-a-home-loan/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Common errors can delay final approval of your home loan. Most lenders rely on a standard home loan application that asks you to disclose basic information about your financial situation. The questions are reasonably straightforward, but there are some easy…

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]]> http://www.justhomemortgages.com/2009/01/25/dos-and-donts-when-applying-for-a-home-loan/feed/ 0 Checklist: Documentation for your mortgage lender http://www.justhomemortgages.com/2009/01/25/checklist-documentation-for-your-mortgage-lender/ http://www.justhomemortgages.com/2009/01/25/checklist-documentation-for-your-mortgage-lender/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster When you apply for mortgage financing, you must provide the following documentation to the lender before your loan is granted: Name and address of landlord(s) for the past two years (if eligible). …

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]]> http://www.justhomemortgages.com/2009/01/25/checklist-documentation-for-your-mortgage-lender/feed/ 0 Calculating your debt-to-income ratio http://www.justhomemortgages.com/2009/01/25/calculating-your-debt-to-income-ratio/ http://www.justhomemortgages.com/2009/01/25/calculating-your-debt-to-income-ratio/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Before looking for a mortgage, determine how much debt you can manage. Know how to calculate your debt-to-income ratio. When you shop for a mortgage or other loan, one of the key factors a lender takes into consideration before granting approval is your debt-to-income ratio. This is the ratio between how much you owe …

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]]> http://www.justhomemortgages.com/2009/01/25/calculating-your-debt-to-income-ratio/feed/ 0 Ask an Expert: Spouse with poor credit http://www.justhomemortgages.com/2009/01/25/ask-an-expert-spouse-with-poor-credit/ http://www.justhomemortgages.com/2009/01/25/ask-an-expert-spouse-with-poor-credit/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Q: My spouse has a poor credit rating, but my credit is quite good. How should we complete a mortgage application in order to get the best rate? Do we have to include his name on our mortgage? A: If you are planning to buy a home with a spouse who has poor credit, you have several options when you apply for a mortgage. First, you can purchase the house on your own and apply for the mortgag…

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]]> http://www.justhomemortgages.com/2009/01/25/ask-an-expert-spouse-with-poor-credit/feed/ 0 Ask an Expert: Employment required for a mortgage http://www.justhomemortgages.com/2009/01/25/ask-an-expert-employment-required-for-a-mortgage/ http://www.justhomemortgages.com/2009/01/25/ask-an-expert-employment-required-for-a-mortgage/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Q: How long do you need to be employed in order to qualify for a mortgage? A: Employment status is an important part of the mortgage approval process. Your career history can be a good indication of how easy it will be for you to meet your payments. That’s why, as a rule of…

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]]> http://www.justhomemortgages.com/2009/01/25/ask-an-expert-employment-required-for-a-mortgage/feed/ 0 Ask an expert: Co-signer for a mortgage http://www.justhomemortgages.com/2009/01/25/ask-an-expert-co-signer-for-a-mortgage/ http://www.justhomemortgages.com/2009/01/25/ask-an-expert-co-signer-for-a-mortgage/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Q: Do I need a co-signer to qualify for a mortgage if I am self-employed? If so, what does this involve? A: Because lenders like to see proof of a regular income, it’s sometimes more difficult to get approved for a mortgage if you are self-employed. However, this does not necessarily mean you will need …

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]]> http://www.justhomemortgages.com/2009/01/25/ask-an-expert-co-signer-for-a-mortgage/feed/ 0 Anxious about getting a home loan? http://www.justhomemortgages.com/2009/01/25/anxious-about-getting-a-home-loan/ http://www.justhomemortgages.com/2009/01/25/anxious-about-getting-a-home-loan/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Go slowly to establish trust and get a home loan that meets your needs. Let’s be honest: Applying for a home loan can be one of life’s most stressful experiences, and many people, especially first-time borrowers, are anxious about taking that first step. Being nervous is…

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]]> http://www.justhomemortgages.com/2009/01/25/anxious-about-getting-a-home-loan/feed/ 0 Why your mortgage lender matters http://www.justhomemortgages.com/2009/01/25/why-your-mortgage-lender-matters/ http://www.justhomemortgages.com/2009/01/25/why-your-mortgage-lender-matters/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Monthly payments are important, but products, performance and prices should count too. Home loan borrowers understandably place a lot of emphasis on monthly mortgage payments. Questions like: “How much will we have to pay? And could the payments increase?” typically merit more attentio…

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]]> http://www.justhomemortgages.com/2009/01/25/why-your-mortgage-lender-matters/feed/ 0 What you need to know when it comes to a home mortgage http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-when-it-comes-to-a-home-mortgage/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-when-it-comes-to-a-home-mortgage/#comments Sun, 25 Jan 2009 21:15:30 +0000 webmaster Ask your lender the following questions so you can find out if a particular loan product is right for you. A home mortgage is serious financial business. The financial information surrounding this loan — how much you borrowed and how well you’ve paid — will go on your credit history and it can seriously…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-when-it-comes-to-a-home-mortgage/feed/ 0 Canceling private mortgage insurance (PMI) http://www.justhomemortgages.com/2009/01/25/canceling-private-mortgage-insurance-pmi/ http://www.justhomemortgages.com/2009/01/25/canceling-private-mortgage-insurance-pmi/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Have you built up a fair bit of equity in your home? You may qualify to cancel private mortgage insurance and save hundreds or even thousands of dollars per year. Chances are, if you put less than 20 percent down when you purchased your home, your mortgage lender required you to take out private mortgage insurance (PMI). This insurance protects the lender in t…

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]]> http://www.justhomemortgages.com/2009/01/25/canceling-private-mortgage-insurance-pmi/feed/ 0 What you need to know about Adjustable Rate Mortgage (ARM) terms http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-adjustable-rate-mortgage-arm-terms/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-adjustable-rate-mortgage-arm-terms/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Consider not just what the mortgage will cost you today, but what it will cost down the road. It’s important to understand adjustable rate mortgage terms before you sign. Some things you’ll want to ask your lender include: How often does the interest rate adjust? ARM terms can include adjus…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-adjustable-rate-mortgage-arm-terms/feed/ 0 What you need to know about a piggyback loan before signing http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-piggyback-loan-before-signing/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-piggyback-loan-before-signing/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster This financing option eliminates the need for expensive private mortgage insurance. A piggyback loan is taken out to finance part of the down payment on a home so a buyer can put 20 percent down. That’s the magic number needed to avoid private mortgage insurance (PMI). A piggyback …

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-piggyback-loan-before-signing/feed/ 0 What you need to know about a flexible payment mortgage before signing http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-flexible-payment-mortgage-before-signing/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-flexible-payment-mortgage-before-signing/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Flexible monthly payments can help in a crunch if you have the discipline to manage this mortgage properly. A flexible payment mortgage is just that: a mortgage that lets you choose from various payment options each month. It’s probably the most flexible type of adjustable rate mortgage (ARM). Flexible pa…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-a-flexible-payment-mortgage-before-signing/feed/ 0 What is an Energy Efficient Mortgage? http://www.justhomemortgages.com/2009/01/25/what-is-an-energy-efficient-mortgage/ http://www.justhomemortgages.com/2009/01/25/what-is-an-energy-efficient-mortgage/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster A good way to get into an energy-efficient home. An Energy Efficient Mortgage (EEM) is a federally recognized mortgage that makes it more affordable to buy energy-efficient homes or to make existing homes more energy efficient. Because of the lowe…

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]]> http://www.justhomemortgages.com/2009/01/25/what-is-an-energy-efficient-mortgage/feed/ 0 No-cost mortgage loans http://www.justhomemortgages.com/2009/01/25/no-cost-mortgage-loans/ http://www.justhomemortgages.com/2009/01/25/no-cost-mortgage-loans/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Tempted to choose a mortgage with no upfront costs? Be careful you don’t just save now and pay later. To anyone shopping for a home loan, a “no-cost mortgage” is bound to seem like a great deal. Closing costs (typically around 3 to 5 percent of the loan amount) can run into the thousands of dollars o…

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]]> http://www.justhomemortgages.com/2009/01/25/no-cost-mortgage-loans/feed/ 0 Bridge financing basics http://www.justhomemortgages.com/2009/01/25/bridge-financing-basics/ http://www.justhomemortgages.com/2009/01/25/bridge-financing-basics/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster If your new home closes before the one you are selling, you’ll probably need bridge financing. Here’s how it works. You’re looking for your next home, and walk into the place of your dreams. The space is tailor-made, the location is perfect, even the price is right. Just one problem: the owner of your dream home h…

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]]> http://www.justhomemortgages.com/2009/01/25/bridge-financing-basics/feed/ 0 Beware of non-traditional mortgages http://www.justhomemortgages.com/2009/01/25/beware-of-non-traditional-mortgages/ http://www.justhomemortgages.com/2009/01/25/beware-of-non-traditional-mortgages/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Tempted to choose a non-traditional mortgage with the lowest payments possible? You’d better first assess their risks. Over the past couple of years, there has been a significant increase in the number of non-traditional mortgage loans. These mortgages have made houses affordable for many people who are simply not ab…

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]]> http://www.justhomemortgages.com/2009/01/25/beware-of-non-traditional-mortgages/feed/ 0 Understanding adjustable rate mortgage terms http://www.justhomemortgages.com/2009/01/25/understanding-adjustable-rate-mortgage-terms/ http://www.justhomemortgages.com/2009/01/25/understanding-adjustable-rate-mortgage-terms/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Considering an adjustable rate mortgage (ARM)? Understanding some common terms can help determine if it’s right for you. There are so many mortgage products on the market today that it can be confusing. For example, one option is an adjustable rate mortgage (ARM). Here are some terms you may encounter that can help you…

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]]> http://www.justhomemortgages.com/2009/01/25/understanding-adjustable-rate-mortgage-terms/feed/ 0 Why mortgage lenders require escrow accounts http://www.justhomemortgages.com/2009/01/25/why-mortgage-lenders-require-escrow-accounts/ http://www.justhomemortgages.com/2009/01/25/why-mortgage-lenders-require-escrow-accounts/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster An escrow account doesn’t just protect you, the borrower. It also protects the lender’s vested interest in your property. Think of an escrow account as a safety net for your home. It financially safeguards both you and your lender against liens and property damage. Since most of us do not have the means to buy a home o…

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]]> http://www.justhomemortgages.com/2009/01/25/why-mortgage-lenders-require-escrow-accounts/feed/ 0 Why loan-to-value ratio is important http://www.justhomemortgages.com/2009/01/25/why-loan-to-value-ratio-is-important/ http://www.justhomemortgages.com/2009/01/25/why-loan-to-value-ratio-is-important/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Lenders calculate this percentage when determining if you will be approved for a mortgage. When you apply for a mortgage, one of the things that lenders want to know is what portion of the value of the home you wish to finance. In other words, they want to know how much of a down payment y…

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]]> http://www.justhomemortgages.com/2009/01/25/why-loan-to-value-ratio-is-important/feed/ 0 When is your mortgage loan approved? http://www.justhomemortgages.com/2009/01/25/when-is-your-mortgage-loan-approved/ http://www.justhomemortgages.com/2009/01/25/when-is-your-mortgage-loan-approved/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Financing isn’t set until both the borrower and the mortgage property are okayed. Many home buyers find it difficult to navigate the process of getting a loan to buy a home. Many potential borrowers mistakenly believe a mortgage "pre-qualification" or "pre-approval&…

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]]> http://www.justhomemortgages.com/2009/01/25/when-is-your-mortgage-loan-approved/feed/ 0 How to lower your interest rate http://www.justhomemortgages.com/2009/01/25/how-to-lower-your-interest-rate/ http://www.justhomemortgages.com/2009/01/25/how-to-lower-your-interest-rate/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Shopping for a loan that meets your needs is only part of the interest rate equation. Advertisements for home loans are packed with eye-catching interest rates that oftentimes seem to be too low to be true. And in fact, those rock-bottom rates aren’t available to most borrowers. Yet s…

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]]> http://www.justhomemortgages.com/2009/01/25/how-to-lower-your-interest-rate/feed/ 0 What to do when you are denied credit by a lender http://www.justhomemortgages.com/2009/01/25/what-to-do-when-you-are-denied-credit-by-a-lender/ http://www.justhomemortgages.com/2009/01/25/what-to-do-when-you-are-denied-credit-by-a-lender/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Take a look at your credit history and debt-to-income ratio if your loan application has been denied. It’s not uncommon for prospective home-loan borrowers to receive the dreaded news that their application has been denied. While no one welcomes a lender’s "adverse action" letter, there are…

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]]> http://www.justhomemortgages.com/2009/01/25/what-to-do-when-you-are-denied-credit-by-a-lender/feed/ 0 Getting a mortgage if you’re self-employed http://www.justhomemortgages.com/2009/01/25/getting-a-mortgage-if-youre-self-employed/ http://www.justhomemortgages.com/2009/01/25/getting-a-mortgage-if-youre-self-employed/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Managing your credit, keeping good financial records and documenting your income are crucial if you are self-employed and plan to get a mortgage loan. Self-employed people and others with irregular income could be caught in a squeeze as mortgage lenders continue tightening lending guidelines in response to the problems in the lending industry. On p…

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]]> http://www.justhomemortgages.com/2009/01/25/getting-a-mortgage-if-youre-self-employed/feed/ 0 Qualifying for a home loan http://www.justhomemortgages.com/2009/01/25/qualifying-for-a-home-loan/ http://www.justhomemortgages.com/2009/01/25/qualifying-for-a-home-loan/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Mortgage lenders will look at your ability to repay the loan when qualifying you for a loan. Qualifying for a home loan is an important step in buying a home. Understanding the process can help ensure that you are able to qualify for the home loan that you need. Lenders look at two things w…

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]]> http://www.justhomemortgages.com/2009/01/25/qualifying-for-a-home-loan/feed/ 0 How much house can you afford http://www.justhomemortgages.com/2009/01/25/how-much-house-can-you-afford/ http://www.justhomemortgages.com/2009/01/25/how-much-house-can-you-afford/#comments Sun, 25 Jan 2009 21:15:29 +0000 webmaster Q: How do I know if I can afford a house? A: Through a little bit of research, you can easily figure out if you can afford a house. 1. Add up your monthly expenses. Although spending a couple of hundred thousand on a new home can seem overw…

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]]> http://www.justhomemortgages.com/2009/01/25/how-much-house-can-you-afford/feed/ 0 Rate caps can curtail ARM payment shocks http://www.justhomemortgages.com/2009/01/25/rate-caps-can-curtail-arm-payment-shocks/ http://www.justhomemortgages.com/2009/01/25/rate-caps-can-curtail-arm-payment-shocks/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster Adjustable-rate mortgages come with special rules called rate caps that limit how much your payment can increase. Virtually all adjustable-rate mortgages, including the traditional, hybrid, option-payment and interest-only varieties, feature caps that limit how much the interest rate–and consequently your month…

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]]> http://www.justhomemortgages.com/2009/01/25/rate-caps-can-curtail-arm-payment-shocks/feed/ 0 New construction: Should you finance through your builder? http://www.justhomemortgages.com/2009/01/25/new-construction-should-you-finance-through-your-builder/ http://www.justhomemortgages.com/2009/01/25/new-construction-should-you-finance-through-your-builder/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster There are pros and cons of arranging mortgage financing through your builder’s affiliated lender. Last time you bought a new car, the dealer probably offered to arrange financing. Even furniture and electronics stores offer instant approval if you sign up for their in-house credit cards. Home bui…

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]]> http://www.justhomemortgages.com/2009/01/25/new-construction-should-you-finance-through-your-builder/feed/ 0 Mortgage interest rate trends http://www.justhomemortgages.com/2009/01/25/mortgage-interest-rate-trends/ http://www.justhomemortgages.com/2009/01/25/mortgage-interest-rate-trends/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster A shift in interest rates can make a big difference in your mortgage financing decisions. Interest rates can affect the type of mortgage you choose and dictate when it’s wise to make a change. Here are a few of the factors that can be affected by a swing in interest rates: Choosing a mor…

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]]> http://www.justhomemortgages.com/2009/01/25/mortgage-interest-rate-trends/feed/ 0 Locking the mortgage terms http://www.justhomemortgages.com/2009/01/25/locking-the-mortgage-terms/ http://www.justhomemortgages.com/2009/01/25/locking-the-mortgage-terms/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster Lenders may offer different options for locking the interest rate and points that you will be charged. Locked-in interest rate with locked-in points You lock both the interest rates and points. Considered a true lock because your mortgage terms should not increase before closing even if market cond…

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]]> http://www.justhomemortgages.com/2009/01/25/locking-the-mortgage-terms/feed/ 0 How to save money on your mortgage http://www.justhomemortgages.com/2009/01/25/how-to-save-money-on-your-mortgage/ http://www.justhomemortgages.com/2009/01/25/how-to-save-money-on-your-mortgage/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster More than a low monthly payment, the best way to save is to pick the mortgage loan that reduces your long-term costs. Understandably, when most home buyers look for a mortgage, their top priority is to get the lowest monthly payment. But it’s a better idea to look at how much it’s going to cost you over the long ter…

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]]> http://www.justhomemortgages.com/2009/01/25/how-to-save-money-on-your-mortgage/feed/ 0 How the Fed affects interest rates http://www.justhomemortgages.com/2009/01/25/how-the-fed-affects-interest-rates/ http://www.justhomemortgages.com/2009/01/25/how-the-fed-affects-interest-rates/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster LendingTree’s Chief Consumer Officer Ed Powell answers common questions about how interest rates are affected by the Fed. Q: What is the Fed and how does it affect interest rates? A: The Fed is short for the Federal Reserve, an independent entity created by Congress in 1913 to help promote a sound banking system and a …

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]]> http://www.justhomemortgages.com/2009/01/25/how-the-fed-affects-interest-rates/feed/ 0 Builder buy-downs lower monthly mortgage payments http://www.justhomemortgages.com/2009/01/25/builder-buy-downs-lower-monthly-mortgage-payments/ http://www.justhomemortgages.com/2009/01/25/builder-buy-downs-lower-monthly-mortgage-payments/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster Builders offer interest-rate incentives to entice buyers to purchase a home. But are mortgage buy-downs a good deal? New-home builders typically are loath to reduce prices on new-built homes, but they may offer affordability-constrained buyers a variety of other financial incentives. One such incentive is the inter…

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]]> http://www.justhomemortgages.com/2009/01/25/builder-buy-downs-lower-monthly-mortgage-payments/feed/ 0 What you need to know about private mortgage insurance (PMI) http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-private-mortgage-insurance-pmi/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-private-mortgage-insurance-pmi/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster PMI lets you buy a house with less than 20 percent down in exchange for higher mortgage payments. Private mortgage insurance is just what the name implies: insurance that covers the lender in case the home buyer defaults. If you put less than 20 percent down on most mortgages, chances are your le…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-private-mortgage-insurance-pmi/feed/ 0 Ups and downs of down payments http://www.justhomemortgages.com/2009/01/25/ups-and-downs-of-down-payments/ http://www.justhomemortgages.com/2009/01/25/ups-and-downs-of-down-payments/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster A hefty down payment isn’t required to buy a home, but starting out with some equity can be a smart decision. Prospective home buyers often cite the down payment as a significant hurdle to their home-buying plans. The first step to jump over that hurdle is to examine the alternatives and come up with a down …

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]]> http://www.justhomemortgages.com/2009/01/25/ups-and-downs-of-down-payments/feed/ 0 How much to put down on a home http://www.justhomemortgages.com/2009/01/25/how-much-to-put-down-on-a-home/ http://www.justhomemortgages.com/2009/01/25/how-much-to-put-down-on-a-home/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster Unsure about how much you need to save in order to make a down payment on a home? There are several options. It’s not always easy to save up enough to make the traditional 20 percent down payment on a home. Fortunately, lenders today offer many low-down-payment mortgages. But when deciding how much to put d…

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]]> http://www.justhomemortgages.com/2009/01/25/how-much-to-put-down-on-a-home/feed/ 0 Finding a no money down mortgage http://www.justhomemortgages.com/2009/01/25/finding-a-no-money-down-mortgage/ http://www.justhomemortgages.com/2009/01/25/finding-a-no-money-down-mortgage/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster A no money down mortgage allows you to finance 100% of the purchase price of the home. But beware of the risks. There are many options in financing when buying a home. Getting a no money down mortgage may be an option for you, if you don’t have much money saved to buy a home. A no money down mortgage means yo…

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]]> http://www.justhomemortgages.com/2009/01/25/finding-a-no-money-down-mortgage/feed/ 0 Down-payment assistance programs http://www.justhomemortgages.com/2009/01/25/down-payment-assistance-programs/ http://www.justhomemortgages.com/2009/01/25/down-payment-assistance-programs/#comments Sun, 25 Jan 2009 21:15:28 +0000 webmaster If you are struggling to save enough to make a down payment on a home, there are assistance programs available to help. So you’ve found your dream home but are having trouble finding the money for a down payment. Consider using a down-payment assistance program to help turn your dream into a reality. What’s a down pay…

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]]> http://www.justhomemortgages.com/2009/01/25/down-payment-assistance-programs/feed/ 0 How to choose the right mortgage loan http://www.justhomemortgages.com/2009/01/25/how-to-choose-the-right-mortgage-loan/ http://www.justhomemortgages.com/2009/01/25/how-to-choose-the-right-mortgage-loan/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster Purchasing a home is the single largest expenditure you will make, so manage the financing with great care. There are many different loan products available today and it is often difficult to pick the one best suited to your financial goals. By answering the following questions, you’ll get a feel for what’…

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]]> http://www.justhomemortgages.com/2009/01/25/how-to-choose-the-right-mortgage-loan/feed/ 0 Choosing the best lender for your needs http://www.justhomemortgages.com/2009/01/25/choosing-the-best-lender-for-your-needs/ http://www.justhomemortgages.com/2009/01/25/choosing-the-best-lender-for-your-needs/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster When shopping for a home loan, it’s important to compare lenders as well as loan offers. Here’s how to go about it. You’re shopping for a mortgage and you’ve received four offers from four lenders. How do you choose? The first factor most people consider is the interest rate and other costs, but that’s only the be…

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]]> http://www.justhomemortgages.com/2009/01/25/choosing-the-best-lender-for-your-needs/feed/ 0 20 questions to ask before you pick a home loan http://www.justhomemortgages.com/2009/01/25/20-questions-to-ask-before-you-pick-a-home-loan/ http://www.justhomemortgages.com/2009/01/25/20-questions-to-ask-before-you-pick-a-home-loan/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster Find out what you need to know about payments, interest rates and more. Home loans can be complicated. But choosing one that meets your needs can be much easier if you gather enough information before you make a decision. Here are 20 questions that might apply to your si…

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]]> http://www.justhomemortgages.com/2009/01/25/20-questions-to-ask-before-you-pick-a-home-loan/feed/ 0 The Good Faith Estimate (GFE) http://www.justhomemortgages.com/2009/01/25/the-good-faith-estimate-gfe/ http://www.justhomemortgages.com/2009/01/25/the-good-faith-estimate-gfe/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster Lenders list all the costs associated with a mortgage in the GFE document. Use it to compare offers. When you apply for a mortgage, the government requires your lender to give you a “Good Faith Estimate” (GFE) within three days of your application. This document sets out all the costs associated wit…

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]]> http://www.justhomemortgages.com/2009/01/25/the-good-faith-estimate-gfe/feed/ 0 Mortgage lock-ins http://www.justhomemortgages.com/2009/01/25/mortgage-lock-ins/ http://www.justhomemortgages.com/2009/01/25/mortgage-lock-ins/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster A mortgage lock-in, also called a rate-lock, is a lender’s promise to hold a certain interest rate and points for you for a specified period of time. When you’re looking for a mortgage, you should shop among lenders for the most favorable interest rate and the lowest points and other up-front charges. Lock-ins are a way to ensure that at settleme…

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]]> http://www.justhomemortgages.com/2009/01/25/mortgage-lock-ins/feed/ 0 Escrow: What it is and how it works http://www.justhomemortgages.com/2009/01/25/escrow-what-it-is-and-how-it-works/ http://www.justhomemortgages.com/2009/01/25/escrow-what-it-is-and-how-it-works/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster Chances are your lender will require you to open an escrow account for insurance and taxes when you take out a mortgage. If you’ve ever made an informal bet with a friend, you may have asked a third person to hold the money until the wager was resolved. When you take out a mortgage to buy a home, you’re doing something…

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]]> http://www.justhomemortgages.com/2009/01/25/escrow-what-it-is-and-how-it-works/feed/ 0 Budgeting for closing: Costs and fees to get a mortgage http://www.justhomemortgages.com/2009/01/25/budgeting-for-closing-costs-and-fees-to-get-a-mortgage/ http://www.justhomemortgages.com/2009/01/25/budgeting-for-closing-costs-and-fees-to-get-a-mortgage/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster Expect to pay for an appraisal, credit report and other loan-related items. Most borrowers know a new loan involves a lot of paperwork. But borrowers don’t always know a new loan also involves a lot of fees and costs in addition to the monthly payments. The amounts vary from…

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]]> http://www.justhomemortgages.com/2009/01/25/budgeting-for-closing-costs-and-fees-to-get-a-mortgage/feed/ 0 A Good Faith Estimate (GFE) details mortgage fees http://www.justhomemortgages.com/2009/01/25/a-good-faith-estimate-gfe-details-mortgage-fees/ http://www.justhomemortgages.com/2009/01/25/a-good-faith-estimate-gfe-details-mortgage-fees/#comments Sun, 25 Jan 2009 21:15:27 +0000 webmaster A GFE shows approximately how much your home loan will cost. If you’re shopping for a home loan, you may have encountered a federally regulated document called a "Good Faith Estimate," which details the anticipated costs related to a specific loan yo…

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]]> http://www.justhomemortgages.com/2009/01/25/a-good-faith-estimate-gfe-details-mortgage-fees/feed/ 0 Step 8: Closing your mortgage loan http://www.justhomemortgages.com/2009/01/25/step-8-closing-your-mortgage-loan/ http://www.justhomemortgages.com/2009/01/25/step-8-closing-your-mortgage-loan/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster After locking in your rate and points, you’re close to the finish line. The last step is closing, which will likely include writing a large check to your lender. Closing requires a great deal of pape…

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]]> http://www.justhomemortgages.com/2009/01/25/step-8-closing-your-mortgage-loan/feed/ 0 Step 7: Lock in your mortgage interest rate and points http://www.justhomemortgages.com/2009/01/25/step-7-lock-in-your-mortgage-interest-rate-and-points/ http://www.justhomemortgages.com/2009/01/25/step-7-lock-in-your-mortgage-interest-rate-and-points/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Since it’s often weeks, and sometimes months, between getting prequalified and closing on your home, it’s a good idea to lock in your interest rate and points. What is a rate lock? A lock is a commit…

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]]> http://www.justhomemortgages.com/2009/01/25/step-7-lock-in-your-mortgage-interest-rate-and-points/feed/ 0 Step 6: Getting pre-approved by your mortgage lender http://www.justhomemortgages.com/2009/01/25/step-6-getting-pre-approved-by-your-mortgage-lender/ http://www.justhomemortgages.com/2009/01/25/step-6-getting-pre-approved-by-your-mortgage-lender/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Now that you’ve chosen your lender, you’ll want to get preapproved. Preapproval means that your lender has thoroughly checked your finances, including your income and debts, and has given you the thu…

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]]> http://www.justhomemortgages.com/2009/01/25/step-6-getting-pre-approved-by-your-mortgage-lender/feed/ 0 Step 5: Compare mortgage offers http://www.justhomemortgages.com/2009/01/25/step-5-compare-mortgage-offers/ http://www.justhomemortgages.com/2009/01/25/step-5-compare-mortgage-offers/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster It’s a good idea to compare offers from multiple lenders when looking for a mortgage. When buying a home, you shop around for the house that best suits your wants and needs. But did you know that you should do the same for your mortgage? One of the first things you should look at when…

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]]> http://www.justhomemortgages.com/2009/01/25/step-5-compare-mortgage-offers/feed/ 0 Step 4: Getting prequalified for a mortgage loan http://www.justhomemortgages.com/2009/01/25/step-4-getting-prequalified-for-a-mortgage-loan/ http://www.justhomemortgages.com/2009/01/25/step-4-getting-prequalified-for-a-mortgage-loan/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster It’s a good idea to get prequalified for your mortgage before shopping for a home. Prequalification involves supplying a lender with basic information regarding your debt, income and assets. From thi…

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]]> http://www.justhomemortgages.com/2009/01/25/step-4-getting-prequalified-for-a-mortgage-loan/feed/ 0 Step 3: Finding the best mortgage for you http://www.justhomemortgages.com/2009/01/25/step-3-finding-the-best-mortgage-for-you/ http://www.justhomemortgages.com/2009/01/25/step-3-finding-the-best-mortgage-for-you/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster One of the most important steps in buying a home is determining what kind of mortgage is right for you. After all, a mortgage is a financial commitment that will last for many years. Make sure you se…

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]]> http://www.justhomemortgages.com/2009/01/25/step-3-finding-the-best-mortgage-for-you/feed/ 0 Step 2: How much can you afford to borrow? http://www.justhomemortgages.com/2009/01/25/step-2-how-much-can-you-afford-to-borrow/ http://www.justhomemortgages.com/2009/01/25/step-2-how-much-can-you-afford-to-borrow/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster We can help you calculate how much you can afford to borrow. Before you start looking at homes, it’s important to start off with a budget so you know how much you can afford. Knowing how much you can handle will also help you narrow the field so you don’t wast…

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]]> http://www.justhomemortgages.com/2009/01/25/step-2-how-much-can-you-afford-to-borrow/feed/ 0 Step 1: Check your credit score http://www.justhomemortgages.com/2009/01/25/step-1-check-your-credit-score/ http://www.justhomemortgages.com/2009/01/25/step-1-check-your-credit-score/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Deciding to buy a home is a major financial decision. For most people, buying a home cannot be done without a mortgage, so it is important that you know where you stand financially before making a la…

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]]> http://www.justhomemortgages.com/2009/01/25/step-1-check-your-credit-score/feed/ 0 Interest rate vs. APR http://www.justhomemortgages.com/2009/01/25/interest-rate-vs-apr/ http://www.justhomemortgages.com/2009/01/25/interest-rate-vs-apr/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Don’t compare mortgage offers based on interest rate alone. Consider their annual percentage rate (APR). When you’re shopping for a mortgage, comparing offers can be difficult. The interest rate lenders use to determine your monthly payment (also called the note rate) is only one part of the overall cos…

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]]> http://www.justhomemortgages.com/2009/01/25/interest-rate-vs-apr/feed/ 0 The basics of discount points http://www.justhomemortgages.com/2009/01/25/the-basics-of-discount-points/ http://www.justhomemortgages.com/2009/01/25/the-basics-of-discount-points/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Points can lower your mortgage rate. But you need to do the math to make sure they’re worth it. Discount points are paid up front to obtain a lower interest rate on your mortgage. The more points you pay the lower the rate you obtain. Typically, one point equals one percent of the loan amount a…

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]]> http://www.justhomemortgages.com/2009/01/25/the-basics-of-discount-points/feed/ 0 Home tax deductions http://www.justhomemortgages.com/2009/01/25/home-tax-deductions/ http://www.justhomemortgages.com/2009/01/25/home-tax-deductions/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Besides the inherent joy of owning your own home, becoming a homeowner provides you with potential tax savings. The federal government wants more Americans to own their own homes, so it has created the following forms of home tax deductions as incentives: Mortgage interest and property tax You are able to dedu…

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]]> http://www.justhomemortgages.com/2009/01/25/home-tax-deductions/feed/ 0 Ask an Expert: Negotiating a better mortgage interest rate http://www.justhomemortgages.com/2009/01/25/ask-an-expert-negotiating-a-better-mortgage-interest-rate/ http://www.justhomemortgages.com/2009/01/25/ask-an-expert-negotiating-a-better-mortgage-interest-rate/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Q: How can I negotiate a better mortgage interest rate? A: When you discuss your mortgage, it may feel like the lender holds all the power. It shouldn’t. Lenders want your long-term business, and in a competitive loan market, borrowers can often negotiate…

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]]> http://www.justhomemortgages.com/2009/01/25/ask-an-expert-negotiating-a-better-mortgage-interest-rate/feed/ 0 Your down payment: Why the source matters http://www.justhomemortgages.com/2009/01/25/your-down-payment-why-the-source-matters/ http://www.justhomemortgages.com/2009/01/25/your-down-payment-why-the-source-matters/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Knowing the source of a down payment is important to a lender. It reassures them that you intend to repay the loan. When you purchase a home, you need to do more than just produce funds for the down payment. You also need to document where the funds are coming from. Here’s why: Assurance of sufficient assets The …

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]]> http://www.justhomemortgages.com/2009/01/25/your-down-payment-why-the-source-matters/feed/ 0 What is the standard down payment amount today? http://www.justhomemortgages.com/2009/01/25/what-is-the-standard-down-payment-amount-today/ http://www.justhomemortgages.com/2009/01/25/what-is-the-standard-down-payment-amount-today/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster The standard down payment has changed from 20 percent to what works best for the homebuyer. You make many decisions when purchasing a home. One of these is how much of a down payment to make. In the past, 20 percent was considered the standard down payment. You may wonder if this still hold…

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]]> http://www.justhomemortgages.com/2009/01/25/what-is-the-standard-down-payment-amount-today/feed/ 0 Borrowing your down payment http://www.justhomemortgages.com/2009/01/25/borrowing-your-down-payment/ http://www.justhomemortgages.com/2009/01/25/borrowing-your-down-payment/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster You can borrow your down payment for a house and lower your monthly payments, as well as avoid private mortgage insurance. Buying a house is a serious financial commitment which, for most, takes a great deal of planning and saving. You may have already learned how a down payment on a home can lower your monthly payments …

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]]> http://www.justhomemortgages.com/2009/01/25/borrowing-your-down-payment/feed/ 0 Credit categories dictate mortgage loan products http://www.justhomemortgages.com/2009/01/25/credit-categories-dictate-mortgage-loan-products/ http://www.justhomemortgages.com/2009/01/25/credit-categories-dictate-mortgage-loan-products/#comments Sun, 25 Jan 2009 21:15:26 +0000 webmaster Borrowers who score high are offered the most attractive mortgage interest rates and terms. If you’re wondering how lenders decide which loan products to offer to which borrowers, you might want to learn more about mortgage credit categories, which include Plus, A, Alt-A, B, C and D. High c…

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]]> http://www.justhomemortgages.com/2009/01/25/credit-categories-dictate-mortgage-loan-products/feed/ 0 Home buyers nab low interest rates http://www.justhomemortgages.com/2009/01/25/home-buyers-nab-low-interest-rates/ http://www.justhomemortgages.com/2009/01/25/home-buyers-nab-low-interest-rates/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Lowest interest rates in almost four decades present prime opportunity for home buyers. Mortgage interest rates have now fallen to the lowest level on record for at least the last 37 years.The average rate on a 30-year fixed-rate mortgage was just 5.01 percent with an average 0.6 point…

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]]> http://www.justhomemortgages.com/2009/01/25/home-buyers-nab-low-interest-rates/feed/ 0 What you need to know about an interest-only mortgage before signing http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-an-interest-only-mortgage-before-signing/ http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-an-interest-only-mortgage-before-signing/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster You can afford to buy a more expensive home, but will you be ready when the big bill comes due? Interest-only mortgages have become more popular as housing costs have skyrocketed. Because homeowners repay only the interest portion of their loan, interest-only mortgages allow smaller payments in…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-need-to-know-about-an-interest-only-mortgage-before-signing/feed/ 0 Adjustable rate mortgages (ARM) http://www.justhomemortgages.com/2009/01/25/adjustable-rate-mortgages-arm/ http://www.justhomemortgages.com/2009/01/25/adjustable-rate-mortgages-arm/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Understand the terms of an adjustable rate mortgage (ARM). With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable rate mortgage (ARM), the interest rate changes periodically, usually in relation to an ind…

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]]> http://www.justhomemortgages.com/2009/01/25/adjustable-rate-mortgages-arm/feed/ 0 Meet Fannie Mae and Freddie Mac Home Loans http://www.justhomemortgages.com/2009/01/25/meet-fannie-mae-and-freddie-mac-home-loans/ http://www.justhomemortgages.com/2009/01/25/meet-fannie-mae-and-freddie-mac-home-loans/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Here’s how Fannie Mae and Freddie Mac, two government-sponsored organizations, help make home ownership possible for many Americans. If you’re on the path towards homeownership, chances are you will run into Fannie Mae and Freddie Mac somewhere along the way. Neither one lends money to consumers directly, but both of these huge fi…

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]]> http://www.justhomemortgages.com/2009/01/25/meet-fannie-mae-and-freddie-mac-home-loans/feed/ 0 What is a balloon mortgage? http://www.justhomemortgages.com/2009/01/25/what-is-a-balloon-mortgage/ http://www.justhomemortgages.com/2009/01/25/what-is-a-balloon-mortgage/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster This short-term home loan can sometimes be useful, provided you understand the potential risks involved. A balloon mortgage is a short-term loan that offers lower monthly payments (and usually a lower interest rate) than a traditional fixed-rate mortgage because it’s not fully paid off at matur…

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]]> http://www.justhomemortgages.com/2009/01/25/what-is-a-balloon-mortgage/feed/ 0 Interest-only mortgages http://www.justhomemortgages.com/2009/01/25/interest-only-mortgages/ http://www.justhomemortgages.com/2009/01/25/interest-only-mortgages/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster An interest-only mortgage offers lower initial monthly payments but those payments will rise. Make sure you understand the terms of an interst-only mortgage before you sign. How interest-only mortgages workWhen you take out a traditional mortgage, you pay the lender a monthly amount that’s a…

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]]> http://www.justhomemortgages.com/2009/01/25/interest-only-mortgages/feed/ 0 Reverse mortgages http://www.justhomemortgages.com/2009/01/25/reverse-mortgages/ http://www.justhomemortgages.com/2009/01/25/reverse-mortgages/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster If you are 62 or older and short of cash, a reverse mortgage can help you stay in your home and meet your expenses. How can you get cash out of your home? One way is to sell – but then you have to move. Another is to take out a home equity loan. But you’ll have to pay it back. The third option—for those 62 and old…

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]]> http://www.justhomemortgages.com/2009/01/25/reverse-mortgages/feed/ 0 Checklist: Home-buyer documents for mortgages http://www.justhomemortgages.com/2009/01/25/checklist-home-buyer-documents-for-mortgages/ http://www.justhomemortgages.com/2009/01/25/checklist-home-buyer-documents-for-mortgages/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Here are some documents that you may be required to provide during the mortgage application process: Employment information. Names, addresses and telephone numbers of all your employers for the las…

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]]> http://www.justhomemortgages.com/2009/01/25/checklist-home-buyer-documents-for-mortgages/feed/ 0 Do I have to have private mortgage insurance (PMI) http://www.justhomemortgages.com/2009/01/25/do-i-have-to-have-private-mortgage-insurance-pmi/ http://www.justhomemortgages.com/2009/01/25/do-i-have-to-have-private-mortgage-insurance-pmi/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Depending on your situation, there may be alternatives to expensive PMI. Private mortgage insurance (PMI) adds hundreds or even thousands of dollars a year to mortgage payments, so it’s logical to wonder whether there’s any way to avoid paying it. The best way to avoid P…

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]]> http://www.justhomemortgages.com/2009/01/25/do-i-have-to-have-private-mortgage-insurance-pmi/feed/ 0 Low credit score loans http://www.justhomemortgages.com/2009/01/25/low-credit-score-loans/ http://www.justhomemortgages.com/2009/01/25/low-credit-score-loans/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster You can still get a good rate on your mortgage with an FHA loan even though you have a low credit score. A mortgage is a major expense. But it can be even more costly when your credit score is less than perfect as you may end up being charged a higher interest rate for a subprime mortgage. How do you av…

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]]> http://www.justhomemortgages.com/2009/01/25/low-credit-score-loans/feed/ 0 What you should know about payment-option ARMs http://www.justhomemortgages.com/2009/01/25/what-you-should-know-about-payment-option-arms/ http://www.justhomemortgages.com/2009/01/25/what-you-should-know-about-payment-option-arms/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Those minimum payments may look enticing, but they can increase your loan balance and cost you more in years to come. Most adjustable-rate mortgages aren’t as complex as they may seem. But add a “minimum-payment” option, and a lot more complexity sets in to the basic ARM. Typically, adjustable rate mortgages, or &qu…

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]]> http://www.justhomemortgages.com/2009/01/25/what-you-should-know-about-payment-option-arms/feed/ 0 Ratio of debt to annual income http://www.justhomemortgages.com/2009/01/25/ratio-of-debt-to-annual-income/ http://www.justhomemortgages.com/2009/01/25/ratio-of-debt-to-annual-income/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Q: What is the general ratio of debt to annual income that lenders allow when they are considering you for a standard mortgage or line of credit? A: The standard rule for most lenders is that your debt-to-income ratio should be no higher than 36 percent. In other words, when you add up all of your regular monthly debts such as car, mortgage an…

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]]> http://www.justhomemortgages.com/2009/01/25/ratio-of-debt-to-annual-income/feed/ 0 Step 9: Your mortgage check-up http://www.justhomemortgages.com/2009/01/25/step-9-your-mortgage-check-up/ http://www.justhomemortgages.com/2009/01/25/step-9-your-mortgage-check-up/#comments Sun, 25 Jan 2009 21:15:25 +0000 webmaster Once you have bought your house and settled in, it is important give yourself a mortgage check-up every few years. Keeping your eye on interest rates can help save you money on your mortgage. Reasses…

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]]> http://www.justhomemortgages.com/2009/01/25/step-9-your-mortgage-check-up/feed/ 0 Getting preapproved takes on new importance http://www.justhomemortgages.com/2009/01/25/getting-preapproved-takes-on-new-importance/ http://www.justhomemortgages.com/2009/01/25/getting-preapproved-takes-on-new-importance/#comments Sun, 25 Jan 2009 21:15:24 +0000 webmaster Getting preapproved for a mortgage can help you buy a home you can afford. If you’re getting ready to buy a home, you probably already know that lower home prices and interest rates have made homes much more affordable. But did you also know that getting preapproved for a m…

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]]> http://www.justhomemortgages.com/2009/01/25/getting-preapproved-takes-on-new-importance/feed/ 0 Home equity loan vs. line of credit http://www.justhomemortgages.com/2008/04/15/home-equity-loan-vs-line-of-credit/ http://www.justhomemortgages.com/2008/04/15/home-equity-loan-vs-line-of-credit/#comments Tue, 15 Apr 2008 20:15:15 +0000 webmaster Consider the amount you need to borrow and what you need it for to determine which is right for you.

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]]> http://www.justhomemortgages.com/2008/04/15/home-equity-loan-vs-line-of-credit/feed/ 0 Home values: The importance of being realistic http://www.justhomemortgages.com/2008/04/11/home-values-the-importance-of-being-realistic/ http://www.justhomemortgages.com/2008/04/11/home-values-the-importance-of-being-realistic/#comments Fri, 11 Apr 2008 20:15:24 +0000 webmaster Here are some ways to get real about how much your home is worth.

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]]> http://www.justhomemortgages.com/2008/04/11/home-values-the-importance-of-being-realistic/feed/ 0 How to compare loans http://www.justhomemortgages.com/2008/03/03/how-to-compare-loans/ http://www.justhomemortgages.com/2008/03/03/how-to-compare-loans/#comments Mon, 03 Mar 2008 21:15:16 +0000 webmaster Asking these questions when comparing loans can help you save money and find the loan that best suits your needs.

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]]> http://www.justhomemortgages.com/2008/03/03/how-to-compare-loans/feed/ 0 Choosing the right home loan http://www.justhomemortgages.com/2008/03/03/choosing-the-right-home-loan/ http://www.justhomemortgages.com/2008/03/03/choosing-the-right-home-loan/#comments Mon, 03 Mar 2008 21:15:15 +0000 webmaster This basic guide to the pros and cons of different kinds of home loans can help you pick the mortgage that’s right for you.

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]]> http://www.justhomemortgages.com/2008/03/03/choosing-the-right-home-loan/feed/ 0 4 steps to evaluating your current loan http://www.justhomemortgages.com/2008/02/27/4-steps-to-evaluating-your-current-loan/ http://www.justhomemortgages.com/2008/02/27/4-steps-to-evaluating-your-current-loan/#comments Wed, 27 Feb 2008 21:15:14 +0000 webmaster Thinking of refinancing? Here’s how to evaluate your loan before you make a move.

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]]> http://www.justhomemortgages.com/2008/02/27/4-steps-to-evaluating-your-current-loan/feed/ 0 3 things to know before you apply for a loan http://www.justhomemortgages.com/2008/01/14/3-things-to-know-before-you-apply-for-a-loan/ http://www.justhomemortgages.com/2008/01/14/3-things-to-know-before-you-apply-for-a-loan/#comments Mon, 14 Jan 2008 21:16:25 +0000 webmaster Check out these tips before you finance a car, a home or even a college education.

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]]> http://www.justhomemortgages.com/2008/01/14/3-things-to-know-before-you-apply-for-a-loan/feed/ 0 Giving your kids a start with a home equity loan http://www.justhomemortgages.com/2008/01/07/giving-your-kids-a-start-with-a-home-equity-loan/ http://www.justhomemortgages.com/2008/01/07/giving-your-kids-a-start-with-a-home-equity-loan/#comments Mon, 07 Jan 2008 21:15:17 +0000 webmaster Drawing on your home’s equity can be a great way to give your kids a financial boost. But don’t forget your own future needs.

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]]> http://www.justhomemortgages.com/2008/01/07/giving-your-kids-a-start-with-a-home-equity-loan/feed/ 0 Home equity loans and interest rates http://www.justhomemortgages.com/2008/01/07/home-equity-loans-and-interest-rates/ http://www.justhomemortgages.com/2008/01/07/home-equity-loans-and-interest-rates/#comments Mon, 07 Jan 2008 21:15:17 +0000 webmaster Home equity loans can help you consolidate high-interest debt and pay it off at a lower rate.

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]]> http://www.justhomemortgages.com/2008/01/07/home-equity-loans-and-interest-rates/feed/ 0 Using home equity to smooth your income http://www.justhomemortgages.com/2008/01/07/using-home-equity-to-smooth-your-income/ http://www.justhomemortgages.com/2008/01/07/using-home-equity-to-smooth-your-income/#comments Mon, 07 Jan 2008 21:15:17 +0000 webmaster Your equity in your home can help you cope with an income that rises and falls and expenses that stay the same.

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]]> http://www.justhomemortgages.com/2008/01/07/using-home-equity-to-smooth-your-income/feed/ 0 Calculating your home equity http://www.justhomemortgages.com/2008/01/07/calculating-your-home-equity/ http://www.justhomemortgages.com/2008/01/07/calculating-your-home-equity/#comments Mon, 07 Jan 2008 21:15:17 +0000 webmaster Q: I’ve been hearing a lot lately about the benefits of home equity loans. But how do I know how much equity I have in my home?

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]]> http://www.justhomemortgages.com/2008/01/07/calculating-your-home-equity/feed/ 0 How to use your home equity wisely http://www.justhomemortgages.com/2008/01/07/how-to-use-your-home-equity-wisely/ http://www.justhomemortgages.com/2008/01/07/how-to-use-your-home-equity-wisely/#comments Mon, 07 Jan 2008 21:15:17 +0000 webmaster You can benefit from drawing on your home equity, but it’s important to do it the right way.

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]]> http://www.justhomemortgages.com/2008/01/07/how-to-use-your-home-equity-wisely/feed/ 0 Mortgage acronym cheat sheet http://www.justhomemortgages.com/2007/10/24/mortgage-acronym-cheat-sheet/ http://www.justhomemortgages.com/2007/10/24/mortgage-acronym-cheat-sheet/#comments Wed, 24 Oct 2007 20:15:13 +0000 webmaster Confused by what may seem like an alphabet soup of mortgage terms? Learn what they mean in this glossary of mortgage acronyms.

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]]> http://www.justhomemortgages.com/2007/10/24/mortgage-acronym-cheat-sheet/feed/ 0 How to manage your piggyback loan http://www.justhomemortgages.com/2007/10/24/how-to-manage-your-piggyback-loan/ http://www.justhomemortgages.com/2007/10/24/how-to-manage-your-piggyback-loan/#comments Wed, 24 Oct 2007 20:15:13 +0000 webmaster Got a second “piggyback” loan on top of your mortgage? Here are three options to help you manage your mortgages.

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]]> http://www.justhomemortgages.com/2007/10/24/how-to-manage-your-piggyback-loan/feed/ 0 Self-employed? Here’s how to weather today’s mortgage market http://www.justhomemortgages.com/2007/10/16/self-employed-heres-how-to-weather-todays-mortgage-market/ http://www.justhomemortgages.com/2007/10/16/self-employed-heres-how-to-weather-todays-mortgage-market/#comments Tue, 16 Oct 2007 20:15:14 +0000 webmaster Managing your credit, keeping good financial records and documenting your income are crucial.

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]]> http://www.justhomemortgages.com/2007/10/16/self-employed-heres-how-to-weather-todays-mortgage-market/feed/ 0 Mortgage tips for people who relocate frequently http://www.justhomemortgages.com/2007/10/16/mortgage-tips-for-people-who-relocate-frequently/ http://www.justhomemortgages.com/2007/10/16/mortgage-tips-for-people-who-relocate-frequently/#comments Tue, 16 Oct 2007 20:15:14 +0000 webmaster Relocating again? Consider these tips for staying on top when you buy and sell homes frequently.

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]]> http://www.justhomemortgages.com/2007/10/16/mortgage-tips-for-people-who-relocate-frequently/feed/ 0 Should you refinance your ARM before it resets? http://www.justhomemortgages.com/2007/09/18/should-you-refinance-your-arm-before-it-resets/ http://www.justhomemortgages.com/2007/09/18/should-you-refinance-your-arm-before-it-resets/#comments Tue, 18 Sep 2007 20:15:13 +0000 webmaster You may be better off refinancing your adjustable rate mortgage (ARM) and paying a little more now in order to save a lot more down the line.

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