Home Mortgage Tips Archives – Page 82 of 120

08 Mar 2016

The Pros and Cons of A Fixed Rate Second Mortgage vs. Opening a Home Equity Line of Credit

Home Mortgage Tips

When it comes to a mortgage and the financial stability of your home, there's no such thing as too much you can know in the case of keeping your biggest investment safe. If you're looking at paying off debt and are considering using the equity in your home, here are a few things you'll need to know about refinancing your mortgage and home equity lines of credit. Fixed Second Mortgage vs. HELOC Refinancing your mortgage to access equity (without changing the existing first mortgage)comes in two basic flavors: a fixed rate mortgage or a Home Equity Line of Credit (HELOC).…

03 Mar 2016

By Mark Feder

The FHA Mortgage Minimum Credit Score Has Been Reduced. Here’s What You Need to Know…

Home Mortgage Tips

Credit is of considerable concern when it comes to buying a home, but if you're on the market for a new place in the next few months there may be some timely news that applies to you. If you haven't heard about the changes to the Federal Housing Administration's (FHA) credit score minimum, here's some information on the recent reduction and how it may impact your home purchase. Information On The FHA Started in 1934, the FHA is the organization responsible for insuring the loans that are available to homebuyers in the United States. These loans are not provided directly…

02 Mar 2016

By Mark Feder

4 Facts You Need to Know Before Setting Up a Mortgage Escrow Account

Home Mortgage Tips

Buying a home involves a variety of nuances and strange-sounding terms, and one of the least understood aspects of the home buying process is the escrow account. Essentially, an escrow account is a third party bank account your lender can require you to pay into in order to cover certain costs related to your home. Your lender uses an escrow account to ensure that property taxes and home insurance fees get paid on time. But how exactly do escrow accounts work? Here's what you need to know. Escrow Accounts Are Mandatory With Certain Mortgages Not all home buyers are required…

01 Mar 2016

By Mark Feder

If There’s One Mistake That You Make With Your Mortgage…Don’t Make This One

Home Mortgage Tips

There is so much to know when it comes to home ownership that even wading into all of the information can seem overwhelming, but if there's one thing you need when the time comes to purchasing a home, it's to be prepared. Here are a few ways that you can ensure you're ready for what a mortgage entails so that buying your dream home will be a positive experience you won't regret. Consider All Of Your Options Instead of accepting the mortgage that your bank is offering you, it's very important to do some research and determine what some of…