Appreciation rates for real estate have been phenomenal in many parts of the country for the last five years. This creation of massive amounts of equity has lead to interest in home equity loans. Home Equity Lines of Credit – Be Careful A home equit...

The application process for a home loan can be complex and hectic. When borrowers get caught up in the moment, they often forget to angle for better deals. Tips For Saving Money on Your Home Loan The best way to save money on your home loan is to g...

Obtaining a home loan for the purchase of property can be stressful and a massive experiment in red tape. Military veterans can avoid much of this with VA loans. Advantages of VA Loans over Conventional Loans If you have not served in the military,...

While the G.I. Bill educated millions of military veterans, VA loans give them a step up on homeownership. Here are the basics of VA loans. The Basics of VA Loans Much like a HUD, the VA does not actually issue home loans to veterans. Instead, it ma...

Discussions of mortgages often focus on interest rates, but there is a much more basic decision to make. Should you go with a 30 year mortgage term or a 15 year mortgage term? 30 Year vs. 15 Year Mortgages Any discussion of mortgages tends to turn o...

Many people will take whatever mortgage they can get when trying to purchase a home. Sooner or later, you will start wondering if you can get a better deal. Welcome to the world of refinance. Reasons to Refinance Your Home Traditional mortgages are...

The general mantra in the real estate world is you want to avoid paying points when obtaining a mortgage. As with most assumptions, this is not always true. Using Points To Cut Your Interest Rate When discussing mortgages, it is important to unders...

Mortgage lenders prefer certainty to chaos. Some lenders take this concept to its logical conclusion in mortgages by inserting prepayment penalty clauses. Understanding Prepayment Penalties on Home Loans When a mortgage lender evaluates a loan appl...

Reverse mortgages are increasing in popularity as a way to turn home equity into a liquid asset. Before you jump on a reverse mortgage, you need to understand the impact it can have on government benefits. Reverse Mortgages and Government Benefits T...

Once you reach an agreement on the purchase of a home, things start moving quickly. In the chaos, it is important to remember to budget for closing costs. Budget for Closing Costs – Loan Origination Fees and PMI Closing costs are fees associated wi...

Purchasing a home is a euphoric event. Once escrow begins, the euphoria can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate. Budget for Closing Costs – Home Inspection and Title Fees Closing co...

Entering into escrow on a home can be both exciting and stressful. The excitement comes from knowing you are close to moving into the new home. The stress comes from issues that will arise. Budget for Closing Costs – Prepaid Loan Interest and Home Ins...

You probably spent a good bit of time getting disciplined to save money for your home purchase. You need to carry this financial discipline through the escrow period or you could run into problems. Budget for Closing Costs – Property Taxes, Legal Fees...

Many people have jumped on adjustable rate mortgages to take advantage of the historically low interest rates we have seen over the last few years. Rates are now rising, which means you need to understand caps. Adjustable Rate Mortgages – Talking About...

When applying for a home loan, there are a number of factors you have to take into account. Loan to value is one of the key issues that will determine whether you get that loan. Mortgage Factors: Loan to Value When considering an application for a m...