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203(k) Loan
This is a loan that enables the homebuyer to finance both the purchase and rehabilitation of a home through a single mortgage. ... |
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Adjustable Rate Mortgages
Payments increase or decrease on a regular schedule with changes in interest rates; increases subject to limits. Types: ... |
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Choosing a Lender
Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction. Be sure to choose a ... |
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Choosing a Loan Program
Your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow ... |
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FHA Timing
If you're refinancing an FHA loan, try to schedule the closing for as close to the end of the month as possible. Unlike ... |
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Financing Fine Points
- Payments on some loans may not cover interest due so the loan balance could increase rather than decrease.
- Under ... |
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Foreclosure Financing
One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property. ... |
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Late Payment
If you are in danger of paying your mortgage late, send your payment via overnight mail. The cost of doing so is probably much ... |
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Mortgage Expiration
If you lock in a mortgage rate, make sure the expiration date leaves enough time to complete the real estate closing. The ... |
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Refinancing Costs
If you are taking cash out of a refinancing and/or folding the closing costs into the new loan, watch the loan-to-value ratio ... |
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Refinancing Tax
Refinancing you home loan can save you money and often reduce your monthly payments. If you take cash away from a refinancing, ... |
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Reverse Mortgages
If you own your home, a reverse mortgage loan will pay you in monthly advances or through a line of credit. Reverse mortgages ... |
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Truth in Lending
The Truth in Lending Act gives homeowners three days from the day the account was opened to cancel their credit line. However, ... |
