Orange mortgage #mortgage #loan #calculator #with #taxes


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Welcome to Tangerine

We re proud to be known as the bank that helps Canadians save their money, and all of the Accounts we offer reflect this. Our simple products, along with award-winning Client service have helped close to 2 million Canadians grow their savings and live better lives. We believe that your money should be able to work as hard as you do, which is why we won t nickel and dime you with unfair fees, and we have no minimum balances. Banking with us is easy and convenient, with simple tools for your busy lifestyle.

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Who Gets Mortgage Help Under Obama s Plan? #exclusive #mortgage #leads


#obama mortgage plan

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Who Gets Mortgage Help Under Obama’s Plan?

By: BankingMyWay.com Staff

by M. Gwertzman, BankingMyWay

President Obama unveiled his $275 billion plan to provide mortgage relief to homeowners yesterday, but there are still many details to be announced. The full plan – called the Homeowner Affordability and Stability Plan – will be released on March 4th, but until then, homeowners who think they might benefit should examine their own finances and situation to make sure they meet the eligibility guidelines.

The two main thrusts of the program are to help homeowners modify mortgages that they cannot presently keep on top of, and to help those who are unable to refinance their mortgages because the value of their home has dropped. The plan aims to help out close to 9 million homeowners.

It’s important to note that the plan doesn’t help everyone who’s been affected by the housing mess. Speculators or investors stuck with houses they can’t sell are out of the picture; only homeowners who commit to staying in their homes will benefit.

BankingMyWay has a few tips for what homeowners should do now if they want to take advantage of the plan. Here is some more basic information about the plan and its parameters.

I’d like to refinance my mortgage: If your mortgage is owned or guaranteed by Fannie Mae (Stock Quote: FNM ) or Freddie Mac (Stock Quote: FRE ), you may able to refinance into a 30 or 15 year fixed-rate mortgage. To be eligible, your mortgage must not exceed 105% of the current market value of the property. The current price of a property will be determined once the refinance application process is underway. According to the White House, to be eligible, you must have “sufficient income to make the new payment and an acceptable mortgage payment history.” The criteria will be specified on March 4th.

Refinancing may help lower your monthly payments, but it won’t reduce the amount of money you owe. The plan aims to help homeowners refinance into a stable loan with a fixed, affordable payment. Over the life of that loan, that translates into less interest paid on the mortgage. The idea is to make a refinance available to homeowners presently “underwater” on their mortgage .

I’d like to modify my loan: Under the plan, lenders are given incentives to modify existing loans so that borrowers are better able to meet their obligations. The goal is to assist homeowners already behind on mortgage payments, or who may be facing imminent default.

To be eligible:
• You must live in your house as a primary residency
• Your monthly payment must exceeds 31% of your monthly gross income
• Your loan can’t exceed Fannie Mae or Freddie Mac loan limits (typically $417,000, but higher in some areas)

The government is providing substantial incentives to both the lenders who modify loans and borrowers who keep up with their monthly payments. Borrowers can get up to $5,000 applied against the balance of their debt if they stay current for five years. Modifying a loan under the plan is also free – so borrowers should watch out for any organizations offering fee-based assistance with loan modifications.

Last week, Citibank (Stock Quote: C ) and Bank of America (Stock Quote: BAC ) announced a moratorium on foreclosure sales, which will extend until the eligibility guidelines are announced. So from now until March 4th, when the plan kicks in, homeowners who feel they are eligible for a refinance or modification should collect all their pertinent financial information: pay stubs, tax returns, other debt and loan payments (credit cards, student loans), and any other relevant documents.

There’s plenty of information on the web from the White House and Treasury as well.


ING Easy Orange Mortgage Review #house #mortgage


#orange mortgage

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ING Easy Orange Mortgage Review

It s that time again, where we take a hard look at a mortgage program floating around the web.

Today, we ll look at the so-called “Easy Orange” mortgage from ING Direct, a Dutch mortgage lender doing business on our shores (how dare they!).

They call “Easy Orange” the “mortgage for savers,” apparently because the associated mortgage rate is priced below comparable loan products.

Easy Orange mortgages come in the form of either a 5-year or 10-year fixed rate loan .

They re still based on a 30-year amortization, meaning they re balloon mortgages. with a final payment due after the five or 10 years are up.

Short Term Mortgages

That s right, they re due after just five or 10 years.

The big distinction is that ING offers a “rate renewal feature,” which allows borrowers to relock their rate for another term, for the cost of one mortgage payment (2 biweekly payments).

There s a catch though – they may not always offer rate renewals, and interest rates and costs can change (go up). They probably won t get any lower

In other words, you may have to pony up the money for the “final payment,” which will likely be huge, or refinance elsewhere, assuming you don t sell before the relatively short term is up.

Oh, and the Easy Orange forces you to make biweekly mortgage payments. though they re free of charge.

So you ll be making a mortgage payment every two weeks, which is the standard monthly payment cut in half. This makes for 13 full payments a year instead of 12.

Easy Orange Requirements:

20% down payment (or home equity if refinancing )
Must be owner occupied property (primary residence)
No vacation homes or investment properties
No manufactured homes, condotels, properties greater than 10 acres
Minimum credit score of 700
Max loan amount of $750,000

Easy Orange Benefits:

No application fees
No mortgage points
Biweekly payments
Free 60-day rate guarantee on purchases, 45 days for refinances
Apply online
Guaranteed closing costs (they won t change from time of application)
Close online or over the phone at no extra charge
Pay electronically

While the Easy Orange could save you some money in the short term via the lower mortgage rate associated with the loan program, it carries some serious risk if ING doesn t offer a rate renewal, or if you re unable to sell or refinance once the term is up.

Even if they do offer a rate renewal, it may be significantly higher than your previous rate.

They currently offer an interest rate of 2.990% (3.050% APR) on the 5-year product, which may be slightly lower (half point or so) than other adjustable-rate mortgages out there that adjust after five years.

But you re faced with a decision after five years with Easy Orange, while other ARMs allow you to stay with the loan program, just at the fully indexed rate, which could be higher or lower.

Easy Orange also requires you to make biweekly mortgage payments, which is great if you want to actually pay off your mortgage early. but somewhat counterintuitive if your loan will be reset every five years.

In the end, it may not be worth the risk for the slight reward afforded via the Easy Orange mortgage, but it s certainly a unique way of going about getting a mortgage .


Orange County Home Loans #ny #mortgage #rates


#orange mortgage

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News and Updates

About Us

Trusted and Experienced

Trusted and experienced is what keeps us at the fore front our industry. Spectrum One Mortgage has funded over a Billion dollars since its inception. Since real estate tends to represent the single largest investment most people will ever make, it is vital that every borrower secure the best financing available at the best terms possible. Every borrower has different needs and every property is unique. Every lender has their own unique rules and programs which can be confusing. That’s where we can make a difference for you. Our long history in this business and our access to lenders allows us to make certain our borrowers get the best loan possible. Our many repeat customers attest to this unique benefit, and to our integrity and dedication.

Personal Service

Personal service is another key component to our success. Each client is treated as relationship rather than a transaction. Our clients are the life blood of our business. We are a customer first company with the borrowers best interest always as our top priority.

Low Rates

Low rates is all you will experience when employing Spectrum One Mortgage with your single largest investment in your life. With our customer first focus we put the consumer in the drivers seat to help this experience be a speedy, favorable and memorable transaction.

Our lowest rates in the industry ensure that we have repeat business. Happy Clients, Raving Fans as we like to call them. We guarantee we will meet or beat any reputable quote that our clients bring to us from any of our competitors. Bottom Line is we don’t lose. For more information specific to your situation, please click on the appropriate link, or give us a call at (888) 813-5655. We look forward to earning your business.

Quick Funding

Quick Funding! Whether you are a borrower or a broker/realtor trying to help your client, let us help you by explaining all of your options, and assist you in making a fully-informed choice.

Our overriding focus is in satisfying the diverse loan and investment needs of our customers with honesty and integrity. We do this by consistently providing quality products tailored to their clients situations. Based on a combined 42 years of proven service to our clients, we are confident that we can offer you a great loan to meet your needs.

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Obama Refinance Plan #calculate #a #mortgage #payment


#obama mortgage plan

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Obama Refinance Plan

Obama Refinance Plan Proposes Mortgage Help to Millions of Borrowers

Editor s Note: As of late 2012, the Obama Refinance Plan has not been passed into law. Various proposals have been made, in Congress and by the President to expand the refinance opportunities for borrowers who ve been shut out of the market so far. Read the Bills.com resources HARP 3 and #myrefi. to learn more.

The new Obama refinance plan is designed to assist responsible homeowners who have been unable to refinance at today s historically low interest rates. This mass refinance plan is intended to help millions of Americans benefit from low interest rates and consequently get lower monthly payments.

The Obama refinance plan will help qualifying borrowers save hundreds of dollars a month and stimulate the struggling housing market and the economy in general.

Following up on plans the President hinted at in his State of the Union address, as well as the HARP 2.0 mortgage program announced late in 2011 and the expansion of the HAMP program announced in January 2012, the new Obama refinance plan is a broad based refinancing to help responsible borrowers save an average of $3,000 per year. You meet Obama s definition of a responsible borrower if you are:

  • Current on your mortgage payments for the past six months, with only one mortgage late in the past 12 months
  • Have a minimum credit score of 580, which is far lower than required for a conventional loan

contact one of bills.com s pre-screened mortgage providers for a free, no-hassle mortgage quote.

Other requirements include:

  • Restricting loans to borrowers refinancing their primary residence
  • Having a loan that fits with FHA loan limits for the county. FHA maximum loan limits range from $271,050 to $729,750, depending on where your home is located.

Not Just Fannie or Freddie

The new Obama Refinance Federal plan expands the pool of eligible borrowers to loans that are not currently backed by the government or by either Fannie Mae or Freddie Mac. The HARP mortgage program is restricted to loans backed by Fannie or Freddie, so the new Obama refinance program will reach millions of borrowers who have been shut out of the market.

Streamlined Process

In addition to offering the chance to refinance at low rates, the new Obama refinance program aims to streamline the mortgage process for qualifying borrowers. The goal is to make it easier and cheaper for borrowers and lenders to refinance. Key provisions include:

  • No appraisal required
  • No tax returns required
  • Only verification of employment for employed borrowers

Build Equity and Have Your Closing Costs Paid For

To encourage borrowers to use the savings that refinancing will bring to build equity, the new Obama refinance plan will pay your closing costs on the loan, resulting in zero closing costs, if you refinance into a loan with a term no longer than 20 years and with monthly payments roughly equal to those on your current loan. President Obama estimates that this provision will save an average of about $3,000 per homeowner.

Financial Institutions Pay the Costs

President Obama estimates that the costs of the Obama refinancing plan will range between $5 billion and $10 billion. The costs will be covered from the newly proposed Financial Crisis Responsibility Fee that is charged to the largest financial institutions in the country, without increasing the Federal deficit by even a dime.

Sticking Points

The Obama refinance plan can t be imposed by presidential order. To become law, Congress must pass the President s proposals. President Obama aims to build grass-roots support for his proposals and put pressure on Congress to offer relief to homeowners. Given the divisions that exist in Washington, the Obama refinance plan faces plenty of opposition from Congress. The plan will also likely face opposition from lenders and the financial institutions being asked to pay for it.

Bills.com will continue to report this story as more facts emerge, so return here for updates.

Any word on what might be happening with the new refinance legislation now the election is over? We have tried for a year now with Bank of America to refinance under the mortgage settlement act. They might be the most awful company to deal with in the known universe.

No news, so far. It appears that the initial focus, post-election, is going to be on the fiscal cliff. However, you should keep your eyes on the news. Also, continue to check back at Bills.com, as we will certainly report on any expansion in the mortgage loan programs.


How to Calculate a House Payment: 10 Steps (with Pictures) #best #mortgage #company


#how to calculate house payment

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How to Calculate a House Payment

How to Calculate an FHA Loan Payment

How to Calculate Closing Costs

How to Get Payday Loans With Bad Credit

How to Get a Construction Loan (US)

How to Calculate Mortgage Payments

How to Remove a Name from a Mortgage Without Refinancing

How to Take a Name off a Mortgage

How to Deal With the Consequences of Not Paying Payday Loans

How to Calculate Mortgage Interest

How to Add Someone to Your Mortgage


Mortgage Super Brokers – Find Rates & Mortgage Calculators #liberty #mortgage


#find a mortgage

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The Mortgage Group

We will find the mortgage best suited for you. Simple.

Our Mortgage Brokers and Lenders

Our mortgage brokers have been striving to help Canadians find the best products with some of the lowest mortgage rates in Canada for over twelve years. When you apply for a loan through us, we represent you to over 35 lenders and banks. ensuring that you get the best mortgage options available. Our residential mortgage services are absolutely free and may save you thousands of dollars on interest charges and monthly payments.

Our Mortgage Tools and Resources

Our goal is simple: To help you obtain a complete understanding of your mortgage options and save you money. For that reason, we’ve developed tools to help get you started. Try our mortgage calculator. rates comparison chart. and our full suite of financial tools. including our comprehensive mortgage library .

Debt Consolidation

A mortgage refinance incorporates credit debt into your mortgage. One payment at a lower rate makes sense.

Renovation Refinance

Increase the value of your property with a renovation loan.

First Time Home Buyer

Tired of renting and ready to buy your own home? Let us guide you through the mortgage process.

Mortgage Renewal

Don’t sign that mortgage renewal just yet! Let’s see what the competition has to offer.

Mortgages for Self Employed

Business owners may apply for a stated income mortgage. Competitive interest rates are available.

HELOC

Unlock the equity in your home with a home equity line of credit.

Variable Rate Mortgage

Variable rate loans are based on the Canadian prime lending rate. The interest rate fluctuates but your payments will remain the same.

Cash Back Mortgage

These loans tend to have slightly higher interest rates.

Rental Property Mortgage

Invest in a property with the intention of gaining income from rent.

Vacation Home Mortgage

Interested in buying a second property? Be sure your finances are in order and you must have a good credit history.

Commercial Mortgage

Several types of commercial mortgages are available. Learn more.

New to Canada

Welcome to Canada! Let us help you finance your home.


Prequalify for Home Loans – Bonds #reverse #mortgage #rates


#get a home loan

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Prequalify for A Home Loan

In a few easy steps, our prequalification experts can advise you on how much you can spend on your new property and the finance options available to you.

Simply fill in the details below and a consultant will contact you to complete the process.

Why get prequalified?

Know how much you can afford before you start house hunting.

If you have problems on your credit profile, we can help you to resolve them.

Find out whether or not you need to save for a deposit.

Negotiate a good sale price with agents and home seller with oobaqualified confidence.

Apply for a home loan in one easy step – when you are ready, and let ooba do the rest.

Yes, if you are a SA resident working abroad, an 80% mortgage bond can be secured. Most banks will look at granting up to an 80% loan but each application is reviewed on individual merit. Certain clients have been granted 100% finance, in exceptional circumstances.

You must only be living abroad temporarily and must have plans to return to South Africa. In addition, an application to emigrate must not have been made, nor should you have surrendered your permanent residency status in South Africa. Please consult one of our experienced ooba home loan finance experts to assist you.

ooba Has a host of home loan calculators and other resources available to help you determine the potential cost of your home loan when planning and budgeting.

Only those parties involved in processing your application will view your application details.

You can either apply online or by using the “please call me” form on this website – and an ooba home finance expert will contact you.

ooba can complete the application process on your behalf – or we can investigate the possibility of getting a competitive rate from another bank.


How The Obama Mortgage Plan Works: NPR #20 #year #mortgage #rates


#obama mortgage plan

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How The Obama Mortgage Plan Works

President Barack Obama says up to 9 million struggling homeowners could get help from the housing rescue plan he outlined. The plan commits $275 billion in government funds to the effort and would help some homeowners reduce home payments by refinancing.

MICHELE NORRIS, Host:

From NPR News this is ALL THINGS CONSIDERED. I’m Michele Norris.

President Barack Obama unveiled a new foreclosure-release effort today that he says could help up to 9 million struggling homeowners. Previous programs have all pretty much failed. But the plan announced today is both broader and more aggressive than previous efforts. The plan commits up to $275 billion in government funds to keep people in their homes. NPR’s John Ydstie now has more on how the plan works.

JOHN YDSTIE: There are three main ways homeowners could be helped by this plan. One involves a simple refinancing for homeowners who have loans owned or guaranteed by the government-controlled mortgage giants Fannie Mae and Freddie Mac. Right now, the problem is that because of big declines in home values across the country, many of those homeowners owe more on their mortgages than their homes are worth. They could benefit from lower interest rates, but no one will refinance their loans. President Obama said today he would loosen restrictions on Fannie and Freddie to make it possible for these people to refinance.

BARACK OBAMA: And the estimated cost to taxpayers would be roughly zero. While Fannie and Freddie would receive less money in payments, this would be balanced out by a reduction in defaults and foreclosures.

YDSTIE: But the government will increase the backstop it’s providing for Fannie and Freddie by $200 billion. The president says this element of the plan could help 4 to 5 million homeowners reduce their monthly mortgage payments.

MARK ZANDI: That’s helpful, that’s good, but that’s not where the problem is.

YDSTIE: Economist Mark Zandi of Moodyseconomy.com.

ZANDI: The real problem with foreclosure lies in loans that Fannie and Freddie don’t have a lot to do with – the nonconforming market, subprime loans, a lot of alternative-A loans, some jumbo loans – and that’s where most of the foreclosures are occurring and will occur. And they don’t benefit from that part of the plan.

YDSTIE: But the second element of the new housing rescue package is designed to help homeowners with those exotic mortgages. As President Obama explained today, it involves the government and lenders partnering to reduce monthly payments for those homeowners.

(SOUNDBITE OF CLAPPING)

OBAMA: Here is what this means. If lenders and homebuyers work together, and the lender agrees to offer rates that the borrower can afford, then we’ll make up part of the gap between what the old payments were and what the new payments will be.

YDSTIE: And in addition, the government would provide incentives to mortgage servicers, including a thousand dollars for every modified loan. The program would be voluntary, although any financial institution should take rescue money from the government in the future would be required to participate. The president estimated 3 to 4 million homeowners would be aided by this part of the plan. Mark Zandi thinks this element of the package depends too much on interest-rate reductions. He argues that given just how far home values have fallen, reducing principal on loans is necessary to halt foreclosures quickly.

ZANDI: I think that would have been the most straightforward, clean and quickest way to address this problem.

YDSTIE: But Susan Wachter disagrees. She is a professor of real estate at the University of Pennsylvania’s Wharton School.

SUSAN WACHTER: The evidence out there is that while principal reduction is important, what’s really key is the mortgage payment. That’s what needs to be reduced. And if that reduction comes through interest reductions or principal reductions – bottom line, it’s what people pay that needs to be affordable.

YDSTIE: Wachter says overall, she thinks this is a good plan and will have an impact. The last major element in President Obama’s housing rescue package depends on the passage of bankruptcy legislation moving through the Congress. It will allow bankruptcy judges to write down the value of the mortgage owed by a homeowner to the current value of the home. And to develop a plan for homeowners to continue making payments. John Ydstie, NPR News, Washington.

Copyright 2009 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc.. an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR s programming is the audio record.

Obama Sets $75 Billion Plan To Stem Foreclosures

From Planet Money

President Obama on Wednesday unveiled an aggressive plan that aims to help up to 9 million homeowners avoid foreclosure, a major cause of the nation’s financial crisis.

The president announced details of the plan in a speech in suburban Phoenix, where massive foreclosures drove down the median price of an existing home to $136,000 last month a 49 percent drop from 2006, according to The Arizona Republic.

The plan is designed to help homeowners whose mortgages exceed the value of their home and those who are on the verge of foreclosure. It includes $75 billion to cut the home payments of some homeowners and $200 billion from the Treasury Department to purchase preferred stock in Fannie Mae and Freddie Mac double what was originally pledged.

“Through this plan, we will help between 7 and 9 million families restructure or refinance their mortgages so they can avoid foreclosure,” Obama said in remarks to a crowd at a Mesa, Ariz. high school. “And we are not just helping homeowners at risk of falling over the edge; we are preventing their neighbors from being pulled over that edge too as defaults and foreclosures contribute to sinking home values, failing local businesses, and lost jobs.”

The announcement came shortly after the Commerce Department released even more bad news about the housing market. The government report showed that housing starts fell nearly 17 percent in January to a seasonally adjusted annual rate of 466,000 units, a record low. Applications for building permits, an indicator of future activity, also dropped.

The president’s initiative calls for allowing 4 million to 5 million ineligible homeowners with mortgages through Fannie Mae or Freddie Mac to refinance their home loans at lower rates. To accomplish this, Obama said he would remove restrictions that prevent Fannie and Freddie from refinancing mortgages valued at more than 80 percent of a home’s worth.

Housing Secretary Shaun Donovan stressed that homeowners don’t need to be delinquent in payments to get help.

The plan also offers financial incentives for lenders to reduce the mortgage payments of as many as 4 million homeowners who are at risk of losing their homes. Under the $75 billion Homeowner Stability Initiative, lenders would cut mortgage payments to no more than 31 percent of the borrower’s income.

“My plan establishes clear guidelines for the entire mortgage industry that will encourage lenders to modify mortgages on primary residences. Any institution that wishes to receive financial assistance from the government, and to modify home mortgages, will have to do so according to these guidelines which will be in place two weeks from today,” Obama said.

The plan is designed to aid homeowners and entire communities where double-digit foreclosure rates have led to declining properties and a shrinking tax base. Last year, there were nearly 3.2 million foreclosure filings including default notices, auction sale notices and bank repossessions on more than 2.3 million properties during 2008, an 81 percent increase in total properties from 2007, according to RealtyTrac, which tracks foreclosures.

The president stressed that the plan would not rescue speculators who made risky investments on homes to resell, dishonest lenders who distorted facts to get loans approved, or people who bought homes they knew they could not afford.

In addition, the Treasury Department announced it would provide up to $200 billion to Fannie Mae and Freddie Mac to stabilize the markets and hold down mortgage rates. In 2008, almost three-quarters of new home loans were financed or guaranteed by Fannie Mae and Freddie Mac.

“The increased funding will provide forward-looking confidence in the mortgage market and enable Fannie Mae and Freddie Mac to carry out ambitious efforts to ensure mortgage affordability for responsible homeowners,” said a Treasury Department statement.

The president announced his housing initiative just one day after he signed a $787 billion economic stimulus plan that aims to create or save 3.5 million jobs. On Wednesday, he said part of the economic stimulus included $2 billion in competitive grants to communities looking for innovative ways to avoid foreclosures.


Home Loans – Bond Applications #bank #rate.com #mortgage #calculator


#get a home loan

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Apply for a home loan online with ooba, South Africa s home finance experts

Negotiating a home loan can be a complicated and time-consuming process. This is when you need the experts on your side. Apply for a bond through ooba. We know the banks, understand the system and will hunt down the best deal for you. Since 1998, ooba has secured more than R200 billion in home loans for our clients. We’re skilled negotiators and masters at presenting your application in the best possible way. Several banks compete for your business. That can only mean a better deal. And a better chance of home loan approval. Dealing with an expert, means your life stays simple. A streamlined home loan approval process, with no duplication of forms. We’ll take the scissors to the red tape, magnify the fine print, and get you the best deal, quickly. We know our stuff, so you don’t have to worry. Independent. Straight-talking. And for free. Ask one of our home finance experts to call you back.

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