As mortgage rates have start what was certain to be their inevitable ascent, some lenders are bringing back ‘lock and shop’ programs to assist borrowers in purchasing a home. With ‘lock and shop’ programs lenders will credit approve a homebuyer and then lock in their interest rate BEFORE they find the property they want to buy. As with standard […]
Category Archives: Home Loans & Mortgages
Lenders Revive 'Lock and Shop' Programs
As mortgage rates have start what was certain to be their inevitable ascent, some lenders are bringing back ‘lock and shop’ programs to assist borrowers in purchasing a home. With ‘lock and shop’ programs lenders will credit approve a homebuyer and then lock in their interest rate BEFORE they find the property they want to buy. As with standard […]
How to Get the Best Mortgage Interest Rate
Mortgage lenders adjust the rates they charge borrowers based on perceptions of risk, borrowers who can demonstrate to the lender they are a low-risk are those most likely to qualify for a rate that matches those seen in all the advertisements or headlines. The rates quoted by Freddie Mac and others are averages drawn from […]
When Is My First Mortgage Payment Due?
When you buying a home, your first mortgage payment is due on the first day of the month after the first full month that you’ve owned the home. For example, if you close the sale of your new home on January 25, the first full month you spend in the home will be February, so your […]
How To Modify Your Home Mortgage For Free
Do your own loan modification without paying a high fee to outside companies and lawyers. If you are having trouble paying your mortgage, have an adjustable rate or your value is upside down, it is possible to renegotiate your loan terms. But be prepared to fight a long an difficult battle and realize it’s one […]
PMI May Be Tax Deductible
The federal government is allowing a tax break for private mortgage insurance on loans obtained in 2007. If you obtain(ed) a new home loan with private mortgage insurance in 2007 or thereafter, you might be able to deduct the cost of the insurance on your federal income tax return. The rules are just as […]
