Choosing your mortgage is just as important a decision as choosing your home.
Duration : 0:1:39
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Find the best type of mortgage for you
Posted by admin | Under Fixed Rate Mortgage Thursday Oct 23, 2008Fixed or Adjustable Rate Mortgages – Which is Better for You
Posted by admin | Under Fixed Rate Mortgage Thursday Oct 16, 2008
Fixed or adjustable-rate mortgages? Which is better? That depends on several things, according to Bob Walters of Quicken Loans. Quicken Loans is America’s #1 Online Mortgage Lender, and one of the largest home loan lenders nationwide. For more information, visit http://www.quickenloans.com.
Duration : 0:2:1
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FHA Rate Reductions (Pt. 1 of 3) www.Lowestpymt.com
Posted by admin | Under VA Mortgage Tuesday Sep 9, 2008
How consumers can receive lower FHA or VA mortgage payments without paying to refinance. Lower rate for free using the FHA streamline program. Courtesy of Newport Shores Mortgage, Inc.
Duration : 0:7:48
Is Mortgage Refinancing Right For You?
Posted by admin | Under Fixed Rate Mortgage Saturday Sep 6, 2008
Mortgage refinancing has become very easy to do and there are many advantages. There are also some tax benefits. For more information visit http://www.mountaintopmtg.net/mortgage-refinancing.htm
Duration : 0:5:5
Mortgage rates and Mortgage programs
Posted by admin | Under Mortgage Rates Thursday Aug 21, 2008
http://www.selling.mn Patti Mazzara-Vice President of Venture Development and John Mazzara-President of Minnesota’s Premier mortgage broker will discuss various aspects of Minnesota mortgages, mortgage programs, and the mortgage process. Visit our website to learn about loans, mortgage rates, and mortgage calculators. Learn about the Twin Cities real estate and twin cities mortgage market http://www.ventureloanapp.com
Duration : 0:4:30
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First Time Homebuyer / Homebuyers Seminar Clip #1 of 6
Posted by admin | Under Cash Out Refinance Wednesday Aug 20, 2008
This is a recent homebuyers seminar I put together in Daly City, California. If you would like information about further seminars, please let me know at jvetter@mercurylending.com. I can help you with you California and Oregon refinance and purchase needs.
Duration : 0:9:49
FHA Secure Loan Mortgage Programs
Posted by admin | Under FHA Mortgage Tuesday Aug 19, 2008
http://www.FHASecuredLoans.com
FHA Secure Loan Mortage Programs, government loans, adjustable mortgages, fixed rate, 30 year term, low credit scores, 15 year fixed, foreclosure, loss mitigation, low interest rate, no prepayment penalty, Mortage Integrity, Mike Minichiello, Dorothy Minichiello, real estate, boynton beach, south florida, USA, nationwide, manalapan, broward county, palm beach county, miami, investors, loan officers, mortage brokers, buying, selling, refinancing, closing, title company, MLS, vacation homes, luxury homes, self-employed, equity, land, resources homes, open houses, wellington, lead generating system, fresh mortgage leads daily, licensed realtor, prequalification, loan application, appraisal, commitment, market conditions http://www.FollowDorothyHome.com
Duration : 0:4:0
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Fixed and Adjustable Rate Mortgages Compared Interest Only
Posted by admin | Under Fixed Rate Mortgage Friday Aug 15, 2008
(Best Syndication) This video will explain various mortgage options including a fixed rate mortgage (sometimes called a FRM), an adjustable rate mortgage (sometimes referred to as an ARM), and interest only loans. Although fixed rate mortgages are usually more desirable, there are instances when customers may want to choose either an adjustable rate mortgage or even an interest only loan.
The interest rate of a fixed rate mortgage remains constant throughout the loan term. Payments are fixed and will not vary, and this amount is independent of the additional costs on a home including as property taxes and property insurance. Some lenders may require an impound account for both taxes and insurance. This benefits the lender by ensuring that these required payments are made.
If there is very little money down, the lender may require an impound account. But impound accounts can confuse the borrower who is not sure if those payments were actually made. In some instances they may continue to be billed by the county assessor and / or the insurance company.
Adjustable Rate Mortgages have become very popular lately. They are characterized by low initial payments which make it easier for the borrower to qualify. This allows borrowers to qualify and purchase larger homes.
The payments may be adjusted periodically with the interest rate tied to an index. Common indexes include the 11th District Cost of Funds Index (COFI), London Interbank Offered Rate (LIBOR), 12-month Treasury Average Index (MTA), Constant Maturity Treasury (CMT), National Average Contract Mortgage Rate, or the Bank Bill Swap Rate (BBSW).
Adjustable rate mortgages are usually easier to qualify for because the lender is protected from spikes in interest rates. But lenders and investors need to consider the default rates due to hybrid adjustable rate mortgages which offer an initial low payment period. After that period the loan payments are adjusted upward and may even double leading to defaults and foreclosures.
But what do the numbers mean in Hybrid mortgages? A 3/1 ARM means the payment is fixed for a 3-year period and a subsequent 1 year adjustment period. After a specified “reset date” the loan is free to adjust or “float” to the index specified in the loan documents.
When interest rates are high borrowers may prefer an adjustable rate loan. If a borrower feels that he or she may sell their home within five or maybe ten years, they may consider either an adjustable rate mortgage or an Interest Only Loan. If property values increase in that period the home buyer benefits because they invested less money compared to a standard Fixed Rate Mortgage.
Borrowers with Interest Only Loans pay only the interest for a specified period of time. Unlike Adjustable and Fixed Rate Mortgages, no principal is paid on the loan. At the end of interest only period the loan may convert to a regular amortized loan or a balloon payment may become due. The terms are spelled out in the loan agreement.
In the United States a five or ten year interest-only period is typical. After that time the loan usually converts to a regular amortized loan for the remaining term. For instance, a homebuyer may pay interest only for 10 years but then pays both interest and principle for the remaining 20 years of a 30-year loan.
Adjustable rate and interest only mortgages can help buyers qualify for larger loans and homes. There is a risk to both the borrower and note holder when the loan either resets or converts to a regular amortized loan. For this reason lenders will usually require a higher interest rate on these types of loans.
Homeownership offers many advantages when compared to renting. This presentation was not meant to be advice. Always consider all of your options and talk to loan and / or real estate professionals before making your decision.
Duration : 0:5:37
FHA Secure Mortgage Saves Homes
Posted by admin | Under FHA Secure Friday Aug 15, 2008
John Mazzara-President & Patti Mazzara-Vice President of Venture Development-Minnesota’s Premier mortgage broker will discuss various aspects and their importance in the mortgage process http://www.ventureloanapp.com
Duration : 0:1:36
Fixed mortgages vs Adjustable rate mortgages!
Posted by admin | Under Fixed Rate Mortgage Friday Aug 15, 2008
We have heard nightmares about adjustable rate mortgages, but some people cannot afford fixed rate mortgages. WHat is right for you.
I interviewed Steve Ochs from Wells Fargo Mortgage about the difference, pros, and cons between a fixed mortgage vs an adjustable rate mortgage (ARM).
Duration : 0:5:51
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