Where can I get a mortgage for a ground rent investment? – Yahoo! UK & Ireland Answers
September 30, 2010 by admin
Filed under Mortgage News
Where can I get a mortgage for a ground rent investment?
There is a house in my street containing 3 flats. Each flat is a leasehold with a long lease. I want to buy the freehold and therefore become the landlord of the building. Unfortunately I don't have all the money I need. Does anyone know of any mortgage lender or other company which will lend me the money I Read more
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National Mortgage Help Center Commercial Legitimate?
September 28, 2010 by admin
Filed under Mortgage News
National Mortgage Help Center Commercial Legitimate?
Anyone know if this company is legitimate or not?
We have seen their commercial and our mortgage company will not help us, do you think they can or is it a scam?
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Latest mortgage news – Walking away from mortgage and home
September 26, 2010 by admin
Filed under Mortgage News
Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…
Walking away from mortgage and home
He walked away from the rowhouse and the mortgage. It's the bank's problem now. "These lenders, they don't care about the community. … Read more
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How to write a letter of explanation?
September 24, 2010 by admin
Filed under Mortgage News
How to write a letter of explanation?
I have to write a letter of explanation to the mortgage company that is refinancing our loan. The thing is the things they want us to explain, we are not behind on payments. The reason we are refinancing is because we could not sell the house and now we are renting it out to someone. We did that so we could move to a different state Read more
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Mortgage Interest Rate and Its Trends
September 22, 2010 by admin
Filed under Mortgage Rates
Interest rates may affect the type of mortgage you choose and decide when it is wise to make a change. Here are a few of the factors that may be affected by a fluctuation in interest rates:
Choosing a mortgage
As interest rates rise, a fixed rate mortgage is usually a good choice, because it freezes at the current rate and protects you from higher future rates. When prices fall, an adjustable-rate mortgage (ARM) is more attractive, as its interest rate changes periodically (usually every one, three or five years), so you can take advantage of new, lower prices . Therefore following mortgage rate trends will help you reduce your monthly payments.
Some people choose an ARM even when prices rise. This is because the interest rate on an ARM is significantly lower – as much as two percentage points lower than that of a 30 – year fixed rate mortgage. That means you pay less for housing loans has increased two full percentage points. After this, you will pay more than a fixed rate.
There are also mixed weapons, which have a fixed interest rate for a certain period of time – usually three to 10 years – and then becomes adjustable. (A 5 1 ARM, for example, has a fixed rate for five years, after which the interest rate is adjusted annually.) )
Hybrid arms may be the right choice if rates are likely to rise in the short term, but flat or falling. But these long-term trends hard to predict.
Refinancing
A change in the mortgage interest rate trends may make it worthwhile to switch to a different type of mortgage. When prices fall, you can save money by moving from a fixed rate to an adjustable-rate mortgages, so you can take advantage of lower prices. If interest rates seem set for a continued increase in the conversion of an ARM with a fixed rate mortgage can lock in a lower rate and protect you from higher payments. You should ensure that any closing costs are not outweighed by the benefits of refinancing.
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Commercial Mortgage Calculation Methods?
September 22, 2010 by admin
Filed under Mortgage News
Commercial Mortgage Calculation Methods?
My bank wants to use the 360/365 method to calculate mortgage interest:
Rate ÷ 360 × Loan Balance = Per diem interest
But some of my research (http://www.cuanswers.com/pdf/cb_ref/M-360-dayinterestcalc.pdf) indicates that the 360/365 method, while widely used for business loans, is not used for mortgages. Instead, commercial Read more
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Can you have two mortgages on two separate properties; one 15 year and one 30 year?
September 20, 2010 by admin
Filed under Mortgage News
Can you have two mortgages on two separate properties; one 15 year and one 30 year?
I currently have a 15 year mortgage on my primary property. I would like to buy a house for a rental property but with a 30 year mortgage. Can I have two mortgages on two separate properties at the same time? If so can I have one as a 15 year and one as a 30 year?
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5 Means to Get the Lowest Mortgage Interest Rates You Can Have Online
September 19, 2010 by admin
Filed under Mortgage Rates
Everybody loves to get a bargain and getting the lowest mortgage interest rate can save you a considerable amount of money over the life of your loan. There are several ways to go about ensuring that you pay a minimum amount of interest when you take a home mortgage.
Be aware of your credit score.
Good credit is key not only to get a mortgage, but getting the lowest interest rates. Mortgage Providers like to reward borrowers who pay their bills on time. Chances are if you’ve been faithful with your other payments, loyalty reward you to pay them back, so they can afford to take a risk on you and offer you the lowest mortgage interest rates available.
Close all existing credit card accounts that you no longer use.
If you have several credit card accounts, they can affect the interest rates on mortgages, even if they have a zero balance. Lenders see open accounts as potential for debt, which adds a risk of them not getting their money back. To offset this risk, the more often you will get a slightly higher interest rate.
Lock in interest rate before closing.
Once you have agreed on a low interest rate, ask the lender to lock in that rate. Rates can vary drastically over the time it takes for you to get your mortgage, which can mean paying a different rate than originally stipulated.
Make the biggest deposit you can afford.
Putting a deposit from your savings to your home, reduce the amount you intend to finance, reducing the interest you pay over the term of your loan.
Shop Around.
You do not have to work with the first lender that you approach. With the large amount of online mortgage brokers, it is easy to compare offers and choose the company that offers you the lowest interest rate. Do not be afraid of brokers who can shop around, or ask if they can match the interest of a tender competition to tell.
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Latest mortgage news – FirstMac to offer $416m in residential mortgage-bached securities
September 18, 2010 by admin
Filed under Mortgage News
I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.
FirstMac to offer $416m in residential mortgage-bached securities
AUSTRALIAN regional non-bank lender FirstMac Read more
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Is commercial mortgage interest deductible?
September 16, 2010 by admin
Filed under Mortgage News
Is commercial mortgage interest deductible?
I do my own tax, if commercial mortgage interest is deductible, where should I appy to on 1040.thanks
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