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First Time Buyer Issues: Low Credit Scores
A first time buyer mortgage is no longer difficult to get, but a mortgage with low credit score might take a little more work. However, even bad credit will not prevent a first time buyer getting a...
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Truth in Lending and Your Mortgage Loan
Truth in Lending was introduced in 1968 to ensure uniformity in the way that costs incurred in borrowing, such as a mortgage loan, are calculated and presented to the borrower. It should, in theory,...
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What Mortgage is Best for You: Common Types of Mortgage
What mortgage is best for you? It is not possible to answer that question without knowing your personal details. However, here are some of the more common types of mortgage, and each should be...
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HUD Homes and FHA Loans for Adverse Credit Mortgages
HUD homes and FHA loans can be used to enable those with low FICO scores to get adverse credit mortgages. The Department of Housing and Urban Development (HUD) offers insurance on mortgages, and when a...
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Jumbo Mortgages: What is a Jumbo Mortgage and Why Have One?
Jumbo mortgages are mortgage loans that are higher than the normal mortgage loan limits. It is not an arbitrary figure, but one set by Fannie Mae and Freddie Mac for residential mortgages. In most...
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Property Investment: Real Estate Investment in Your Portfolio
Property investment can be volatile, so should real estate investment be a component of your portfolio? The problems of the sub-prime mortgage fiasco have never really disappeared, and we still hear...
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Mortgage Escrow: What are Escrow Services for Mortgages?
Mortgage escrow is a term used when money is placed into a third party account for further use with a second party. It cannot be used either by the payer or the recipient until certain conditions have...
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Mortgage Questions: Mortgage Terminology Explained
The mortgage questions we are asked are often based upon mortgage terminology. Some terminology is difficult to understand. We will start with some that relate to simple terms that are often...
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Mortgage Questions: Prepaid Interest and Escrow Accounts
This mortgage questions post will cover the topics of prepayment. Several questions we have received have related to the topics of prepaid interest and also escrow accounts. Many find it difficult to...
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Simple Interest Mortgages Vs Regular Mortgages
The fundamental difference between a simple interest mortgage and regular mortgage is in the way the interest is calculated. With a regular mortgage, interest is accrued monthly, while with a simple...
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