http://www.financealley.com en-us editorial@financealley.com The mortgage industry may seem simple on its face, but it is actually fairly complex. In this article, we discuss the ubiquitous mortgage servicer. If you have ever had any kind of fixed term loan, such as a student or car loan, you know that the loan... http://www.financealley.com/article_140781_19.html 27th March 2007 Most people have a pretty good idea of how their credit looks. At least, they think they do. It is vital that you actually verify your credit situation before applying for a mortgage to avoid ugly surprises. Your credit score plays a vital role in get... http://www.financealley.com/article_140780_19.html 27th March 2007 If you decide to sell your home, you most likely are going to want to buy another one. This process is known as stepping up in the market, but can lead to financing problems. Selling and buying homes can be a bit stressful to say the least. If you rec... http://www.financealley.com/article_140779_19.html 27th March 2007 Only in America could you have something like credit cards. Lenders more or less throw money at you by offering you credit cards, but can you have too many when it comes time to apply for a home loan? Credit cards are so numerous, it is rather stunning... http://www.financealley.com/article_140778_19.html 27th March 2007 When it comes to financing for real estate, the tendency is to think big in relation to the amount you can borrow. In truth, affordability should be a bigger issue. For the last seven years or so, many people have been borrowing money like mad when it... http://www.financealley.com/article_140777_19.html 27th March 2007 There were many benefits to the red-hot real estate market earlier this decade. One is the fact many people are sitting on homes with lots of equity. Tapping such equity should be done very carefully. Home equity is a beautiful thing. For most homeown... http://www.financealley.com/article_132873_33.html 28th February 2007 If you own a home, sooner or later you will start thinking about refinancing. Making the decision to refinance should be carefully done or you could regret it. The decision to refinance is an entirely different situation compared to when you first too... http://www.financealley.com/article_132872_33.html 28th February 2007 One of the biggest hurdles to buying your first home is coming up with the down payment. Alas, you may already have it and not even realize it. Long ago, you needed twenty percent of the value of the home you were interested in as a down payment. On a... http://www.financealley.com/article_132871_33.html 28th February 2007 Homeowners have seen massive increases in the values of their homes. At the same time, they tend to have significant personal debt. Ah, I think we have a match. You hear it on the radio everyday or perhaps see a television advertisement. Why should yo... http://www.financealley.com/article_131883_19.html 22nd February 2007 Given the massive appreciation rates many areas saw in the early part of this decade, creating liquidity has become popular. The best way to convert equity to cash is through a refinance strategy. From 2000 on, the real estate market in many areas of t... http://www.financealley.com/article_131882_33.html 22nd February 2007 The mortgage industry is full of interesting little rules of thumb. When it comes to refinancing, you may have heard of the 2 percent rule. The 2 percent rule is one of those clichés that has taken on a life of its own. The rule applies to refinancin... http://www.financealley.com/article_131529_33.html 21st February 2007 The key to getting the best financing for your home purchase is to use a mortgage broker to shop the various loans available. Before you can do that, you need to know how to pick one. A mortgage broker is an independent loan professional. Put another ... http://www.financealley.com/article_131528_19.html 21st February 2007 The mortgage market has grown leaps and bounds from the days when the 30 year mortgage was the primary loan available. That doesn’t mean that all the new products are good for homeowners. As the real estate market has cooled off, the big lenders are... http://www.financealley.com/article_131489_33.html 21st February 2007 If you have owned a home for some time, you probably have amassed a nice nest egg of equity, particularly if you owned it through the recent price run up. So, how do you use it for practical needs? The equity in a home simply refers to the difference b... http://www.financealley.com/article_131488_33.html 21st February 2007 Many people focus on the interest rates and points of a loan till they can’t see straight. In truth, the term of the loan is just as critical if not more so. The term of a home loan is simply the number of months you will be repaying it back. Most p... http://www.financealley.com/article_131486_33.html 21st February 2007 Buying a home is exciting. Applying for a mortgage is not. Most people know a lot about the home purchase process, but few no much about mortgage lenders. First and foremost, the companies lending money for home purchases vary widely. Most people, mys... http://www.financealley.com/article_129409_19.html 15th February 2007 Historically, you needed to have fairly solid credit to obtain a mortgage loan for a home purchase. These days, this is less true even if you have horrific credit. One of the key factors in getting financing for your home is your credit. Lenders perfo... http://www.financealley.com/article_129408_19.html 15th February 2007 In the last few years, the mortgage industry has seen an explosion of new loan programs. One is the 50-year mortgage. The question is whether you should use it to finance your new home. 25 years ago, there were limited financing options if you wanted t... http://www.financealley.com/article_123173_33.html 25th January 2007 If you are in the market for a mortgage loan, your best bet is to shop your financing needs across as many lenders as possible to get the best deal and find the best person to help you. If you were buying a car, how would you go about it? Would you jus... http://www.financealley.com/article_123172_33.html 25th January 2007 If you are buying a home in a state with high prices, you know financing can be an issue. This brings up the issue of the jumbo loan. The mortgage loans industry is unique compared to other financial markets. Why? Well, it has to do with the federal go... http://www.financealley.com/article_122896_19.html 24th January 2007 The mortgage industry has practically seen an explosion of new loan packages catering to the needs of just about anyone. Stated income financing is one such option. One of the great aggravations of getting a loan for a home is the paperwork. Frankly, ... http://www.financealley.com/article_122895_19.html 24th January 2007 Small businesses are the pillars of our modern economy. Ironically, the millions of self-employed individuals can have a bear of a time getting financing. As a self-employed person, you are your own boss and it is great. You set your hours, take home ... http://www.financealley.com/article_122501_19.html 23rd January 2007 Going with a shorter term mortgage can lead to a significant savings on the financing of your home. There are, however, certain situations where you should not go with a shorter term. The term of a home loan is a key factor when it comes to figuring o... http://www.financealley.com/article_122500_33.html 23rd January 2007 The traditional home loan market was all about the 30 year mortgage. These days, shorter term loans are available, but should you get one? The mortgage market was traditionally as stoic a financial market as you could find. Things were handled in one o... http://www.financealley.com/article_122499_33.html 23rd January 2007 When it comes to financing, it is important to understand that interest rates move on practically a daily basis. To be assured of a rate, you need to consider locking it in. When it comes to real estate and financing, there is an issue with timing. Si... http://www.financealley.com/article_120396_33.html 15th January 2007 When you sit down to discuss your financing options for the purchase of a property, you can quickly get lost in the verbiage and minutia of finance. Here are some things you need to make sure you address. First and foremost, it is important to underst... http://www.financealley.com/article_120395_19.html 15th January 2007 Since home prices are at historical highs, you may need some serious help coming up with the correct financing to buy a home. Surprisingly, help might be found right in front of you. When it comes to home purchases, particularly first homes, there are... http://www.financealley.com/article_120394_33.html 15th January 2007 If you apply for a loan, 20 percent is the magical number you must focus on. If you put the amount or more down on a loan, you do not have to pay private mortgage insurance. Private mortgage insurance is the ultimate catch-22 when it comes to getting f... http://www.financealley.com/article_120393_19.html 15th January 2007 These days, it is amazing how many different mortgage options there are on the market. Some are better than others, and convertible financing can be one of the best. A Quick Guide to Convertible Mortgage Loans In the old days, property financing bo... http://www.financealley.com/article_115847_19.html 03rd January 2007 Coming up with the cash to purchase a new home can be a real task. One way to create a bit of wiggle room is to lower your initial mortgage payments by buying them down. Cutting Mortgage Payments By Buying Down One of the current concerns regarding... http://www.financealley.com/article_115846_19.html 03rd January 2007 After years of simply amazing interest rates, 2006 turned out to be a bit of a watershed in the mortgage industry. With 2007 just a step away, what can we expect in the home loan market? The 2007 Mortgage Market From 2000 through 2005, we saw a hist... http://www.financealley.com/article_114471_19.html 27th December 2006 As the real estate market has changed in the last year, many homeowners are starting to have problems meeting their mortgage. Short sales are touted as a solution, but you must consider taxes before doing it. Mortgage Relief, Short Sales and Taxes L... http://www.financealley.com/article_111488_33.html 12th December 2006 For many first time homebuyers, the FHA is a godsend. Why? It offers a number of programs that help people get into their first home when they otherwise might not be able to. Guide to Common FHA Mortgage Programs The FHA is run under the auspices ... http://www.financealley.com/article_111397_19.html 12th December 2006 The economy of the United States is undoubtedly and indisputably based on the small business. That being said, it is rather amazing that financing for self-employed people is such a problem. Self Employed Mortgage Issue – Lots of Assets, Little Inco... http://www.financealley.com/article_110232_19.html 06th December 2006 Throw out the idea of applying for a home loan. One of the first things that will pop into people’s minds is their credit score. After all, you need a great credit score to get financing, right? Umm, not really. Welcome To The World of B Paper Mortg... http://www.financealley.com/article_110231_19.html 06th December 2006 When buying your first home, there are a lot of hurdles to overcome. Financing is one of them. For many people, this means applying to the friendly bank of mom and dad. Getting Your Parents Help With Financing A Home They say you should never do bu... http://www.financealley.com/article_110230_33.html 06th December 2006 Finding enough cash to make a solid down payment on the home of your dreams is often a difficult task. With home prices at all time highs, coming up with 10 or 20 percent equates to a large amount of money. Well, the seller might just help you if you ask.... http://www.financealley.com/article_110229_33.html 06th December 2006 There are many factors that go into obtaining the financing you need to buy a home. Coming up with the cash for your down payment is one that most people don’t realize. Coming Up With Cash for Your Down Payment The old saying is cash is king. This... http://www.financealley.com/article_110227_33.html 06th December 2006 As with many tasks in life, preparation and hard work go a long way to securing success. If you intend to apply for financing for a home, preparation is definitely the key and it does not require much work. Getting Approved for a Loan – Preparation i... http://www.financealley.com/article_106947_19.html 18th November 2006 One of the great aggravations of applying for a home loan is the red tape. Mortgage brokers are one solution for limiting your frustration. Mortgage Brokers Take The Hassle Out of Applying If you are looking for financing for a home, there are a co... http://www.financealley.com/article_106946_19.html 18th November 2006 Buying a home is an emotional decision and most people try to get the best the possible can afford. That being said, one must be careful when squeezing into a mortgage. Be Careful When Squeezing into a Mortgage When it comes to certain foods, there... http://www.financealley.com/article_103400_33.html 16th November 2006 If you have looked into mortgage loans at all, you know the two primary choices are fixed and adjustable mortgages. Adjustable mortgages may seem a good choice, but there are a few things to consider. Things to Consider When Choosing an Adjustable Mor... http://www.financealley.com/article_103399_33.html 16th November 2006 If you are going to apply for financing for a property, a mortgage broker is definitely the way to go. That being said, how do you choose a mortgage broker? Choosing A Mortgage Broker When possible, you should use mortgage brokers when shopping f... http://www.financealley.com/article_100234_33.html 15th November 2006 Most real estate investors use mortgage brokers to find and facilitate the best property loans. As an individual borrower, you should do the same, but what will it cost? Does Using A Mortgage Broker Cost You Money? One of the insider secrets of rea... http://www.financealley.com/article_100233_33.html 15th November 2006 If you have shopped for a mortgage or are considering doing so, it can be difficult given the amount of advertising information floating around. This is where home loan brokers come in. What Is A Home Loan Broker? If you are considering the purcha... http://www.financealley.com/article_100232_33.html 15th November 2006 When evaluating mortgages, the first things people look for are the best terms on rates, payment flexibility and points. This is logical, but not always wise. When Is A Great Mortgage Offer Not So Great? When evaluating mortgage options, most peopl... http://www.financealley.com/article_100231_33.html 15th November 2006 The decision to conform to some societal standard is often a contentious issue. With mortgages, it is purely an issue related to the amount you want to borrow. To Conform or Not Conform With Mortgages The first time you step into the ring of the ho... http://www.financealley.com/article_91672_19.html 03rd October 2006 In the world of home loans, nothing is more dour sounding than underwriting. Cutting to the chase, this is where you get approved or denied for your borrowing request. Underwriting and the World of Home Loans Regardless of the type of home loan you... http://www.financealley.com/article_91671_19.html 03rd October 2006 Buying a home should be one of the momentous events of your life. If you do not approach it in the right way, however, the mortgage process can foil your efforts. How The Mortgage Process Can Go Bad At first, house hunting is something you will be e... http://www.financealley.com/article_79880_33.html 08th August 2006 When most people think about mortgages, they focus on credit scores, points, term and interest rates. The loan to value ratio offered by your lender, however, should not be overlooked. Understanding Loan to Value Calculations as Part of Your Mortgage ... http://www.financealley.com/article_79877_33.html 08th August 2006