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Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

November 14th 2017

The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

November 13th 2017

Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

November 13th 2017

Here’s how to make all of the right decisions so that you’ll save more, invest wisely and take full advantage of all the tax breaks to build your retirement nest egg.

November 10th 2017

It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

November 10th 2017

You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

November 8th 2017

What are mortgage rates

Interest ing Snapshot

Individual retirement accounts, or IRAs, are a great way to build financial security for you and your family. They’re easy to open and our simple strategy helps you make all the right decisions now, and in the years ahead.

What are mortgage rates

What are mortgage rates


Different Types of Mortgage Loans Explained – 2017 Update, types of mortgages.#Types #of #mortgages


The Different Types of Mortgage Loans in 2017, Explained

By Brandon Cornett | 2017, all rights reserved | Duplication prohibited

What are the different types of mortgage loans available to home buyers in 2017, and what are the pros and cons of each? This is one of the most common questions we receive here at the Home Buying Institute. This page offers some basic information about the types of loans available in 2017. Follow the hyperlinks provided for even more information. And be sure to send us your questions!

Types of mortgages

Loan Reps Are Standing By

Did you know you can get free, no-obligation mortgage quotes online? It’s a great way to get the ball rolling.

If you already understand the basic types of home loans, and you’re ready to move forward with the process, use one of the links provided below. Otherwise, keep reading below to learn about the different financing options available in 2017. You can always come back to these links later on.

Types of Mortgages Available in 2017, Explained

There are many different types of mortgages available to home buyers. They are all thoroughly explained on this website. But here, for the sake of simplicity, we have boiled it all down to the following options and categories.

Option 1: Fixed vs. Adjustable Rate

As a borrower, one of your first choices is whether you want a fixed-rate or an adjustable-rate mortgage loan. All loans fit into one of these two categories, or a combination hybrid category. Here’s the primary difference between the two types:

  • Fixed-rate mortgage loans have the same interest rate for the entire repayment term. Because of this, the size of your monthly payment will stay the same, month after month, and year after year. It will never change. This is true even for long-term financing options, such as the 30-year fixed-rate loan. It has the same interest rate, and the same monthly payment, for the entire term.
  • Adjustable-rate mortgage loans (ARMs) have an interest rate that will change or adjust from time to time. Typically, the rate on an ARM will change every year after an initial period of remaining fixed. It is therefore referred to as a hybrid product. A hybrid ARM loan is one that starts off with a fixed or unchanging interest rate, before switching over to an adjustable rate. For instance, the 5/1 ARM loan carries a fixed rate of interest for the first five years, after which it begins to adjust every one year, or annually. That’s what the 5 and the 1 signify in the name.

As you might imagine, both of these types of mortgages have certain pros and cons associated with them. Use the link above for a side-by-side comparison of these pros and cons. Here they are in a nutshell: The ARM loan starts off with a lower rate than the fixed type of loan, but it has the uncertainty of adjustments later on. With an adjustable mortgage product, the rate and monthly payments can rise over time. The primary benefit of a fixed loan is that the rate and monthly payments never change. But you will pay for that stability through higher interest charges, when compared to the initial rate of an ARM.

Option 2: Government-Insured vs. Conventional Loans

So you’ll have to choose between a fixed and adjustable-rate type of mortgage, as explained in the previous section. But there are other choices as well. You’ll also have to decide whether you want to use a government-insured home loan (such as FHA or VA), or a conventional regular type of loan. The differences between these two mortgage types are covered below.

A conventional home loan is one that is not insured or guaranteed by the federal government in any way. This distinguishes it from the three government-backed mortgage types explained below (FHA, VA and USDA).

Government-insured home loans include the following:

The Federal Housing Administration (FHA) mortgage insurance program is managed by the Department of Housing and Urban Development (HUD), which is a department of the federal government. FHA loans are available to all types of borrowers, not just first-time buyers. The government insures the lender against losses that might result from borrower default. Advantage: This program allows you to make a down payment as low as 3.5% of the purchase price. Disadvantage: You’ll have to pay for mortgage insurance, which will increase the size of your monthly payments.

The U.S. Department of Veterans Affairs (VA) offers a loan program to military service members and their families. Similar to the FHA program, these types of mortgages are guaranteed by the federal government. This means the VA will reimburse the lender for any losses that may result from borrower default. The primary advantage of this program (and it’s a big one) is that borrowers can receive 100% financing for the purchase of a home. That means no down payment whatsoever.

USDA / RHS Loans

The United States Department of Agriculture (USDA) offers a loan program for rural borrowers who meet certain income requirements. The program is managed by the Rural Housing Service (RHS), which is part of the Department of Agriculture. This type of mortgage loan is offered to rural residents who have a steady, low or modest income, and yet are unable to obtain adequate housing through conventional financing. Income must be no higher than 115% of the adjusted area median income [AMI]. The AMI varies by county. See the link below for details.

Combining: It’s important to note that borrowers can combine the types of mortgage types explained above. For example, you might choose an FHA loan with a fixed interest rate, or a conventional home loan with an adjustable rate (ARM).

Option 3: Jumbo vs. Conforming Loan

There is another distinction that needs to be made, and it’s based on the size of the loan. Depending on the amount you are trying to borrow, you might fall into either the jumbo or conforming category. Here’s the difference between these two mortgage types.

  • A conforming loan is one that meets the underwriting guidelines of Fannie Mae or Freddie Mac, particularly where size is concerned. Fannie and Freddie are the two government-controlled corporations that purchase and sell mortgage-backed securities (MBS). Simply put, they buy loans from the lenders who generate them, and then sell them to investors via Wall Street. A conforming loan falls within their maximum size limits, and otherwise conforms to pre-established criteria.
  • A jumbo loan, on the other hand, exceeds the conforming loan limits established by Fannie Mae and Freddie Mac. This type of mortgage represents a higher risk for the lender, mainly due to its size. As a result, jumbo borrowers typically must have excellent credit and larger down payments, when compared to conforming loans. Interest rates are generally higher with the jumbo products, as well.

This page explains the different types of mortgage loans available in 2017. But it only provides a brief overview of each type. Follow the hyperlinks provided above to learn more about each option. We also encourage you to continue your research beyond this website. Education is the key to making smart decisions, as a home buyer or mortgage shopper.


Front Page, School of Economics, mortage rates.#Mortage #rates


Mortage ratesGeorgia Institute of Technology School of Economics

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The School of Economics at Georgia Tech provides a crucial link for solving the complex challenges facing our world. Our faculty and students look to solve human problems cost-effectively and sustainably, given the resource constraints that inevitably restrict what we can do. By bridging social concerns, technology, and economics, we make choices that lead to improvements in the human condition.

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Christopher Blackburn, a doctoral student in the School of Economics at Georgia Institute of Technology, presented a paper titled “Do

Resource and Energy Economics to Publish Paper by Kim and Oliver


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Interest Rate Trends

Three month, one year, three year and long-term trends of national average mortgage rates

on 30-, 15-year fixed, 1-year (CMT-indexed) and 5/1 combined adjustable rate mortgages;

What is mortgage rate

What is mortgage rate

One year trends of mortgage rates: 30-Year FRM, 15-Year FRM, 5/1 ARM

* Fully-Indexed Rate = index (1-year CMT) + margin (assuming a 2.75% margin)

What is mortgage rate

What is mortgage rate

Three year trends of mortgage rates: 30-Year FRM, 15-Year FRM, 5/1 ARM

* Fully-Indexed Rate = index (1-year CMT) + margin (assuming a 2.75% margin)

What is mortgage rate

What is mortgage rate

What is mortgage rate

What is mortgage rate

What is mortgage rate

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Mortage rates Are you ready to start scouring the market and searching for your dream home? Or, perhaps you are going to have your dream home built so it will have all of the features you have always wanted. Regardless of your situation, finding your dream home is half the battle. After all, once you have found the perfect place to buy, you need to determine how you are going to pay for that beautiful home!

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Mortgage Guide

With ARM loans, the amount of interest you pay will change according to the prime rate. This means your monthly payment will increase or decrease when the prime rate changes. The fixed interest loans, on the other hand, interest rate on these loans stays the same throughout the lifetime of the loan, which generally lasts anywhere from 15 to 30 years. The interest rate you receive is determined by your credit score as well as other factors taken into consideration at the time of the loan.

Bailout loans help you avoid foreclosure if you haven’t been able to pay your mortgage for 120 days, you can talk to your agency more about these type of issues. If you are building your home, on the other hand, a construction mortgage will allow you to access portions of your loan throughout the building process so you can keep your contractors paid. Rehab mortgages, on the other hand, are loans that are used to help purchase a “fixer upper” and also provide money to help with making the necessary repairs.

Mortage rates FHA and VA loans help veterans, people with disabilities, and people with low incomes acquire a home with mortgage terms they can afford. You can also save money in the beginning with interest only loans. With these loans, your monthly payment is applied only toward the interest. If you send more money, it is applied toward the principle and helps increase your equity. Rates on these loans are adjustable, which means your monthly payment can increase or decrease throughout the lifetime of the loan. The same is true with low down payment loans. These loans allow you to purchase a home even if you do not have the standard 20% down payment. Lenders will require PMI, which is an additional expense added to your monthly payment, when approving one of these loans.

If you have your own business, you might want a self-employment loan. These loans are used by people that are self-employed and may have difficulty with proving a steady income. No doc loans are also good for business owners as well as others with special circumstances. These loans require little documentation, which means you do not have to prove your income or the amount of debt you are currently carrying. Rates on these loans tend to be higher than standard mortgage loans.

If you are purchasing a home that is quite expensive, you might get a jumbo loan. These loans are given to homebuyers that are purchasing homes that are over $417,000. Similarly, if you need to get your hands on some more money, you might choose to refinance or to get an equity loan. These loans are used to access equity built in the home or to refinance the home in order to take advantage of better terms.

Whether you own a business, have perfect/excellent, good, fair, or poor credit or are looking to fix up a home that is need of repair, FiveStarHomeMortgage can help you find the loan that best suits your needs. Our professionals will work closely with you in order to find the type of loan and the lender that helps you get the loan you need so you can finally purchase the home of your dreams. Contact us today to learn more about how we can help!

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Mortgage comparisons by Lovemoney.com Financial Services Ltd and London Country Mortgages Ltd [1]

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Arranging a loan for a property is a big step, but it needn’t be a step into the unknown with our comprehensive set of mortgage guides and frequently asked questions.

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    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

    PLEASE NOTE: ALTHOUGH L C IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FCA), THE FCA DOES NOT REGULATE MOST BUY TO LET MORTGAGES

    [1] For information only mortgage comparison Gocompare.com introduces customers to Lovemoney.com Financial Services Limited which is authorised and regulated by the Financial Conduct Authority. Gocompare.com’s relationship with Lovemoney.com Financial Services Limited is limited to that of a business partnership, no common ownership or control rights exists between us. Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites

    For mortgage advice Gocompare.com introduces customers to London Country Mortgages Ltd which is authorised and regulated by the Financial Conduct Authority. Gocompare.com’s relationship with London Country Mortgages Ltd is limited to that of a business partnership, no common ownership or control rights exist between us

    [2] Calls made to you by London Country are completely free of charge. If you decide to call London Country, calls from mobiles and landlines are free of charge. Your call may be monitored or recorded for training and security purposes


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    As at 28th of September, Choice Home Loans will be transitioning into a new brand called realestate.com.au Home Loans. This is an exciting new offer which will help Australians to access the help and experience of a mortgage broker through the digital channles they’re already using to find their new home.

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    Topic No, standard mortgage.#Standard #mortgage


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    Information Menu

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    1. Home
    2. Tax Topics
    3. Topic No. 504 Home Mortgage Points

    Topic Number: 504 – Home Mortgage Points

    The term points is used to describe certain charges paid to obtain a home mortgage. Points are prepaid interest and may be deductible as home mortgage interest, if you itemize deductions on Form 1040, Schedule A (PDF), Itemized Deductions. If you can deduct all of the interest on your mortgage, you may be able to deduct all of the points paid on the mortgage. If your acquisition debt exceeds $1 million or your home equity debt exceeds $100,000, you can’t deduct all the interest on your mortgage and you can’t deduct all your points. See Publication 936, Home Mortgage Interest Deduction, to figure your deductible points in that case. Refer to Topic No. 505 and Can I Deduct My Mortgage-Related Expenses? for more information on deducting mortgage interest and points.

    You can deduct the points in full in the year you pay them, if you meet all the following requirements:

    1. Your main home secures your loan (your main home is the one you live in most of the time).
    2. Paying points is an established business practice in the area where the loan was made.
    3. The points paid weren’t more than the amount generally charged in that area.
    4. You use the cash method of accounting. This means you report income in the year you receive it and deduct expenses in the year you pay them.
    5. The points paid weren’t for items that are usually listed separately on the settlement sheet such as appraisal fees, inspection fees, title fees, attorney fees, and property taxes.
    6. The funds you provided at or before closing, including any points the seller paid, were at least as much as the points charged. You can’t have borrowed the funds from your lender or mortgage broker in order to pay the points.
    7. You use your loan to buy or build your main home.
    8. The points were computed as a percentage of the principal amount of the mortgage, and
    9. The amount shows clearly as points on your settlement statement.

    You can also fully deduct (in the year paid) points paid on a loan to improve your main home if you meet tests one through six above. Points that don’t meet these requirements may be deducted ratably over the life of the loan. You can deduct points paid for refinancing generally only over the life of the new mortgage. However, if you use part of the refinanced mortgage proceeds to improve your main home and you meet the first six requirements stated above, you can fully deduct the part of the points related to the improvement in the year you paid them with your own funds. You can deduct the rest of the points over the life of the loan. Points charged for specific services, such as preparation costs for a mortgage note, appraisal fees, or notary fees aren’t interest and can’t be deducted. Points paid by the seller of a home can’t be deducted as interest on the seller’s return, but they’re a selling expense that will reduce the amount of gain realized. The buyer may deduct points paid by the seller, provided the buyer subtracts the amount from the basis or cost of the residence. You can only deduct points you pay on loans secured by your second home over the life of the loan.

    You may be subject to a limit on some of your itemized deductions, including points. For more information on the adjusted gross income limitations, please refer to the Form 1040 (PDF) and Topic No. 501.

    For more information on points, refer to Publication 936, Home Mortgage Interest Deduction.