|
|
Additional Resources
|
|
Different Flavors Of Interest Only Mortgages
By Dennis Estrada
Just like an ice cream. Interest Only Mortgages come in different flavors. However, it does not mean that one type is better than the other. When you purchase a home, mortgage lenders consider the Read more...
|
|
|
|
Virtualsoftnet Heading....
Below, you'll
find extensive information on leading mortgage broker bond articles and products
to help you on your way to success.
Homeowners With An Fha Mortgage: Streamline It -save Money
By Bill Wehr
There is a fast and easy way to lower the payments on your existing FHA mortgage. It will not take money out of your pocket for closing costs. There is no appraisal required. As long as you’ve made your existing FHA payments there is no credit qualifying. You don’t even have to be working and making an income to get it.
An FHA Streamline loan option is already built into your existing mortgage. One feature it offers is that you can get a new lower rate loan, if it is available, without reappraising your property. You just need to take the step to contact an approved FHA lender to get the details and see what it could mean to you in monthly payment savings. You will have a new process to go through, but it is abbreviated since there is no appraisal involved. On the application the sections that relate to income, assets and debts do not need to be completed. The full process should easily be wrapped up in less than 30 days.
You will not get cash back from this loan. This program is designed strictly to lower payments. This is a benefit that is given to the payer to make it easier to continue payments as time goes on. The amount of the new loan will be the lesser of either the original loan amount or the existing debt. The original loan amount is the amount of the loan at the time you took out the present FHA mortgage. Existing debt can include the current loan amount, closing costs, reasonable discount points and prepaid expenses necessary to close a new loan. The upfront insurance on the loan to be paid off is subtracted out of these calculations. These two options are only available to you if you occupy the home as your residence.
If you have an FHA loan on an investment property, even if you originally lived in it, you will only be eligible to refinance the current balance. All closing costs and pre-paids will be paid out of pocket at escrow. You will not be able to add these costs to your new loan.
An appraisal could be done in processing the loan. If the formulas above do not pencil out, you may need to establish a higher current value to avoid out of pocket expenses at escrow. This gives flexibility provided the property has appreciated. The credit qualifying portion is still waived.
With the increase in rates over the last year, some people who have existing FHA ARM mortgages may be concerned that their annual rate adjustments could be climbing. You can use the FHA Streamline program to switch to a fixed rate FHA
California Mortgage Refinancing - California Refinance Rates
Avail the benefits of California mortgage refinancing. Also find how to secure best California home mortgage refinance rates which helps you find the best mortgage solution for your home financing needs to fit every situation.
California Home Mortgage Loan Refinance : California Home Loan Refinance
Lowest rates available on California home loan mortgage refinance and refinance your mortgage while rates are low. Get California Home Interest Loan Refinance quotes online.
California Adjustable Rate Mortgage Loans: ARM Loans CA
In California adjustable rate mortgage loan (ARM) programs, the risk of fluctuating interest rates is shared equally between the borrower and the lender.
California Bad Credit Mortgage Loans
Bad credit OK! Find California mortgage loans to purchase your home, consolidate your debts-even save you from the edges of bankruptcy-and get yourself on the path to financial freedom.
California FHA Loans : California FHA Home Loans
California FHA home loan is the best way to finance your home. Find how to secure best terms on California FHA home loans with a reliable lender.
California FHA Home Mortgage Refinance Loans
California FHA home mortgage refinance loans with very competitive interest rates are great for low and moderate-income families who are trying to make the transition into home ownership or even borrowers with less than perfect credit.
California FHA Mortgage Refinance : California FHA Loan Limits
California FHA mortgage refinance would help the homeowners Struggling to keep up with your California adjustable rate mortgage and as many people as possible purchase their own homes in California by increasing fha loan limits that made it easier than ever before.
California First Time Home Buyer Loans
California first time home buyer loans provides instant rates for first time home buyers and also speaks about the importance of pre-qualification and credit history for first time home loans in CA. Offers best tips for the CA first time home buyer.
Additional
Resources
Understanding Bi-weekly Payment Mortgage Calculators
By Dennis Estrada
Are you looking to pay off your mortgage sooner without additional lump sum payment? Your lender allows you to pay a certain percentage once or twice in a year. Usually, the lender allows 20% of the Read more...
|
Additional
Resources
Finally ‘suitability’ Test Arrives At The Mortgage Industry’s Gate…how Bad Does It Have To Get
By Dale Rogers
A younger person can afford to put a good portion of their portfolio in aggressive high growth stocks with no earnings but lots of prospects. Time is on their side. An older person’s portfolio may be Read more...
|
We strive to provide only quality articles, so
if there is a specific topic related to mortgage that
you would like us to cover, please contact us at any time.
And again, thank you to those contributing
daily to our mortgage broker bond website.
California Mortgage Refinancing - California Refinance Rates
Avail the benefits of California mortgage refinancing. Also find how to secure best California home mortgage refinance rates which helps you find the best mortgage solution for your home financing needs to fit every situation.California Home Mortgage Loan Refinance : California Home Loan Refinance
Lowest rates available on California home loan mortgage refinance and refinance your mortgage while rates are low. Get California Home Interest Loan Refinance quotes online.California Adjustable Rate Mortgage Loans: ARM Loans CA
In California adjustable rate mortgage loan (ARM) programs, the risk of fluctuating interest rates is shared equally between the borrower and the lender.California Bad Credit Mortgage Loans
Bad credit OK! Find California mortgage loans to purchase your home, consolidate your debts-even save you from the edges of bankruptcy-and get yourself on the path to financial freedom.California FHA Loans : California FHA Home Loans
California FHA home loan is the best way to finance your home. Find how to secure best terms on California FHA home loans with a reliable lender.California FHA Home Mortgage Refinance Loans
California FHA home mortgage refinance loans with very competitive interest rates are great for low and moderate-income families who are trying to make the transition into home ownership or even borrowers with less than perfect credit.California FHA Mortgage Refinance : California FHA Loan Limits
California FHA mortgage refinance would help the homeowners Struggling to keep up with your California adjustable rate mortgage and as many people as possible purchase their own homes in California by increasing fha loan limits that made it easier than ever before.California First Time Home Buyer Loans
California first time home buyer loans provides instant rates for first time home buyers and also speaks about the importance of pre-qualification and credit history for first time home loans in CA. Offers best tips for the CA first time home buyer.
|
|
