Will Obama s latest mortgage refinance plan help you? CBS News #mortgage #rates #today


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Will Obama’s latest mortgage refinance plan help you?

Will Obama’s mortgage refinance plan help you?

Dean Baker of the Center for Economic and Policy Research sits down with CBSNews.com deputy politics editor Corbett B. Daly to discuss the ins an.

President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments.

The plan is an expansion of an existing program to help borrowers who are not behind on their payments but cannot refinance because they do not enough equity in their home. Or they might be underwater–which means they owe more than their home is worth.

“Right now, some underwater homeowners have no choice but to refinance with their original lender – which some lenders refuse to do,” Obama said in prepared remarks.

“These changes will encourage other lenders to compete for their business by offering better terms and rates, and eligible homeowners to shop around for the best ones,” he added.

But how many homeowners will it really help? And will it be enough to jumpstart the still struggling housing market?

Dean Baker is the Co-Director of the Center for Economic and Policy Research here in Washington, spoke with CBS News and said if 800,000 borrowers are able to refinance, that would be “very good.”

That would be a big help to those borrowers, but probably not enough to make much of a difference in the overall economy, he added.

Despite the relatively modest effect, Mr. Obama and his team recognize the president needs to be seen on television everyday as someone “trying to solve problems, said Larry Sabato, a politics professor at the University of Virginia.

“It’s a smart approach and long overdue,” Sabato said, noting that the administration is “out of time” as the presidential election is just a year away.

“They realize that Obama probably can’t get a Mother’s Day resolution passed through Congress,” so he has to move ahead with incremental measures that help pockets of Americans.

Housing analyst Edward Pinto stressed that the plan would mostly help borrowers who owe less than their mortgage, despite the repeated talked from White House officials that it is aimed at so-called “underwater” borrowers.

“I think it’s important not to get expectations up too high,” said Pinto, a fellow at the conservative American Enterprise Institute and a vocal critic of Fannie Mae and Freddie Mac, the two government sponsored entities that are backing the loans eligible for refinance under the Home Affordable Refinance Program (HARP).

Pinto noted close to a million borrowers have gotten a HARP refinance loan since it was introduced two years ago, but only about 100,000 of them were borrowers who owed more than their house is worth. Without the HARP program, borrowers would have to owe less than 80 percent of the loan’s value to refinance, so the majority of borrowers who got new HARP loans were in that 80 to 100 percent range, Pinto said.

Even with the expanded program, “they are not going to help a million” more underwater borrowers, Pinto added.

2011 CBS Interactive Inc. All Rights Reserved.


Zillow – s Mortgage Rate Update #vanderbilt #mortgage #repos


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Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update for September 13, 2016

The average rate borrowers were quoted on Zillow was 3.31 percent.

Current mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow at 3.31 percent, up 2 basis points from last week.

The 30-year fixed mortgage rate rose Friday to 3.38 percent, then fell steadily back to the current rate over the rest of the week.

“Mortgage rates spiked almost 10 basis points late last week, reaching the highest levels since July before retreating, as markets react to the inevitability of tighter monetary policy in the U.S. and Europe,” said Erin Lantz, vice president of mortgages at Zillow. “This week markets are likely to be particularly jumpy in response to incoming data with eyes toward next week’s Federal Open Market Committee meeting.”

Additionally, the 15-year fixed mortgage rate was 2.56 percent, and for 5/1 ARMs. the rate was 2.66 percent.

Check Zillow for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

Helpful Tools


Karl Jeacle – s Mortgage Calculator – Kelso – s Corner #car #mortgage #calculator


#karls mortgage calculator

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Karl Jeacle s Mortgage Calculator

[Editor’s note: With fixed rate home mortgages at new record lows, now is the time to consider refinancing (again). How this is possible in the current financial paradigm, I am not sure. But the tool demonstrated below from Karl will show you how much cash you’ll save over the long term by refinancing at a lower rate.]

Republishedfrom Karl s site.
Links updated 22 Feb. 2009 and 5 March 2009.

Static screenshot below. View the interactive version .

Instructions

The calculator is split into three sections:

1. Sliders

Move the sliders to set the values of your principal, interest rate, loan length, and mortgage start date.

Up and down arrows at either side of the slider allow the range of values covered by the slider to be adjusted.

The checkboxes on the left of the sliders determine whether principal, interest, term or payment is calculated. By default, the Payment slider checkbox is ticked, meaning that moving the other sliders values will calculate the payment. Clicking on another slider checkbox, e.g. Principal checkbox, allows the user to modify term, interest and payment to see the Principal value calculated as these other values change.

2. Graphs tables

Use the buttons underneath the graphs and tables to choose how you want the output to be displayed:

  • Amortization Graph this shows how the monthly payments made each year are broken down. Note how the curves show increased principal and decreased interest being paid as time goes by. Also note that extra payments push up the principal curve, i.e. the annual principal amount shown is increased by the value of the extra payment.
  • Repayment Chart the percentage breakdown of the total payments made over the entire mortgage (or indeed, the breakdown of the average monthly payment).
  • Balance Graph this shows the balance outstanding over the term of the mortgage. It is useful when extra payments are made to visually see how much sooner the mortgage is paid off, and how quickly the balance drops.
  • Interest Graph this shows the rate of interest used over the term of the mortgage.
  • Annual Amortization Table how much interest and principal you pay each year.
  • Monthly Amortization Table how much interest and principal you pay each year, broken down month by month.
  • Monthly Payments Table the payment amount and any extra payment made each month. Useful when interest rates change or if extra payments reduce monthly payment.
  • Summary shows a summary of the current values.
  • Settings:
    • Monthly/Bi-weekly payments Limited support for bi-weekly mortgages is present through this option. When Bi-weekly payments are selected, an extra 1/12th payment is made every month. This equates to making 13 monthly payments every 12 months a close approximation of how a typical bi-weekly mortgage will work (52 weeks / 2 weeks = 26 half-monthly payments == 13 monthly payments). Note that extra payments are always considered monthly payments, so no equivalent bi-weekly approximation is made.
    • Extra payments default is to reduce term when extra payments are made, but alternative is to keep term unchanged and reduce monthly payment instead.
    • Interest sliders You can use either 1/8th increments or decimal places.
    • Dynamic/static Dynamic calculation means that calculations are done as you move the slider; this is the default. Static means that the calculations are done when you ve finished dragging the slider.

3. Input boxes

The bottom of the calculator is split in two:

The Fixed Loan Data section stays constant while the other four sections can be chosen using the buttons at the bottom of the calculator.

Fixed Loan Data use this as an alternative to the sliders for entering values. This section is called fixed because it does not take interest rate changes into account. The annual Tax and Insurance fields are simply divided by 12 and added to the monthly payment amount. The inflation figure allows estimates in real terms (i.e. in today s money ) to be calculated. The total interest paid over the entire mortgage is shown on the right hand side along with the total interest paid as a percentage of all payments made (see the Repayment Chart for a graphical view). Finally, the total interest paid in real terms ( real interest ) is displayed this figure is an attempt at calculating how much the total interest paid is worth in real terms.

The four optional sections:

  1. Prepayment Data this section gives you the opportunity to estimate how you can shorten the term of your mortgage by making either a single one-off payment or continuous extra monthly or annual payments. You must enter a starting month for the prepayment to take effect. The format is simply the month number i.e. 1 for the first month, 2 for the second month and so on. On the right-hand side, the Savings field shows you how much money you will save, while the Real Savings field once again uses the inflation rate to give a rough estimate of what these savings are in real terms given that the interest savings are spread over a number of years. The dates shown reflect what happens to the mortgage term when the extra payments have been factored in.
  2. Extra payments add up to six extra one-time payments, giving the start and end months numbers to indicate the period when the extra payment is to be made.
  3. Interest rates add up to five extra interest rates, giving the start and end month numbers to indicate when the interest rate is active. Months outside these ranges will use the fixed loan data interest rate. To specify a period where no principal is paid, enter a start and end month in the interest-only payments section.
  4. ARM Adjustable Rate Mortgage support is provied in this section. Enter a start month to activate and click on the interest rate graph to view how this section alters the interest rates over the term of the mortgage.

Notes

Enter the nominal interest rate not an APR.
All calculations are performed on a monthly basis.
The figures are estimates only your lender s figures will vary!

Posted by nathaniel on January 6, 2009.


Nationwide Home Loans: Fort Lauderdale – s Premiere Mortgage Lender #reverse #mortgage #info


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Nationwide Home Loans For fast, reliable service … From a lender you can trust!

Nationwide Home Loans is a boutique residential direct lender focused on providing conventional, FHA, VA and Reverse Mortgage loans to first-time home buyers and the most seasoned of investors.

Talk to us – our business is our obsession

  • Conventional, FHA, VA, Reverse
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Take advantage of our expertise and experience

  • Direct Lending saves you time and money
  • We avoid the “turnaround time” underwriting processing delays of big bank dependence
  • We know how to capture financial market events that benefit you
  • Our automated technology platform keeps our clients updated from application to closing
  • Our local real estate, builder and professional contacts facilitate improved decision making

Unsurpassed Service

Our dedicated staff of mortgage professionals is committed to the challenging task of fitting the right loan to each qualified borrower and we are not satisfied until you are.

Let’s start today. Call us for a free no-obligation consultation. Whatever your housing goals, let our mortgage expertise work for you!

LOAN PROGRAMS

These are conventional loans that follow the terms and conditions established by the guidelines of Fannie Mae and Freddie Mac. Conforming loans are equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac’s and meets their funding criteria.

Types of Conforming Loans

Fixed-Rate Mortgage
The interest rate and the principal payments remain fixed throughout the loan. Keep in mind your monthly escrow account payment could vary from year-to-year as taxes and insurance rates change.

VA Loans are guaranteed by the U.S. Department of Veterans Affairs. Service persons and veterans can qualify for a VA Loan, which usually offers a competitive fixed interest rate, no down payment and limited closing costs. While the VA does not issue the loans, it does issue a certificate of eligibility required to apply for a VA loan.

The FHA is a federal government agency within the U.S. Department of Housing and Urban Development.

FHA plays a significant role in helping low- to moderate-income families qualify for mortgages. FHA assists first-time buyers and others who would not qualify for a conventional loan, by providing mortgage insurance to private lenders. Interest rates for an FHA loan are usually the going market rate, while the down payment requirements for an FHA loan are lower than conventional loans. The required down payment can be as low as 3.5 percent and the closing costs can be included in the mortgage amount. The FHA isn’t a lender and doesn’t directly make home loans. Instead, the FHA insures home loans against the borrower’s default to encourage lenders to offer the loans to home buyers and homeowners at more affordable interest rates.

The FHA has a special program that can help you refinance your FHA loan through a streamline process that’s easier than the typical refinancing.

Here’s a summary of what an FHA streamline refinance is, what the advantages of an FHA streamline refinance are, how an FHA streamline refinance works and what the requirements are.

FHA Refinance Loan Streamline Process

It’s important to remember that “streamline” doesn’t mean you can refinance your FHA loan without any closing costs. Instead, “streamline” refers only to the process, which involves less documentation and other requirements than a typical mortgage refinance does. For example, an FHA streamline refinance loan might not require an appraisal. That’s a major advantage if you want to refinance but believe your home has declined in value.

Though the streamline refinance isn’t cost-free, your lender may allow you to finance the closing costs through a slightly higher interest rate on your new loan. That means you won’t have to pay a lot of cash out-of-pocket to streamline refinance your existing FHA-insured mortgage. Instead, you’ll pay a higher interest rate and your FHA lender will pick up the tab for the closing costs of your streamline refinance. If you refinance into an FHA loan with a lower interest rate, you’ll still save money on your monthly mortgage payment.

Qualifying for an FHA Streamline Refinance Loan

The basic requirements for an FHA streamline refinance are:

• The mortgage that you want to refinance must be an FHA-insured loan.
• You must be current (i.e. not delinquent) on your mortgage payments.
• The primary reason why you want to refinance your FHA loan must be to lower your monthly principal and interest payment.
• You cannot tap your equity (i.e. take out cash) if you use the streamline process.

The FHA streamline refinance loan program isn’t new; in fact, the streamline process has existed since the early 1980s. An FHA-approved lender can help you get started on your FHA streamline refinance loan.

A reverse mortgage is a low-interest loan for senior homeowners that uses a home’s equity as collateral. The loan amount is a percentage of the home’s value determined by the age of the youngest homeowner. The loan does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away. At that time, the estate has approximately 12 months to repay the balance of the reverse mortgage or sell the home to pay off the balance. All remaining equity is inherited by the estate. The estate is not liable if the home sells for less than the balance of the reverse mortgage.

A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the United States, but is $625,500 in the highest-cost areas and in-between in others. The cost of a jumbo loan is higher than a standard loan, so expect a higher interest rate for a jumbo loan.


Today – s Massachusetts Mortgage Rates: Home Loans from Patriot MortgagePatriot Mortgage #mortgage #rates #forecast


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Great Rates, Great People, Great Service

Is refinancing right for you? Do you need some cash? Experience the Patriot Mortgage Difference.

IT’S YOUR MONEY SO LET US SHOW YOU HOW TO KEEP MORE OF IT.

How is your money helping you? Are you getting the most out of one of your BIGGEST INVESTMENTS?

You work hard every day and deserve to keep what you earn. Let us work together to keep that money working for you. How about some cash out for those home improvement projects or for college education? With today’s current home values returning and low interest rates, we are glad to explore your options for you.

Depending on the rate you currently pay on your mortgage, we may be able to save you money at the same time. In some cases we are able to reduce your monthly budget and get you the money needed. With careful explanation and breakdown of how your money works for you. Patriot Mortgage will make sure that you have complete understanding of why it pays to refinance and what money can be saved. Extending a loan back out to 30 years can usually save monthly costs, BUT HOW IS YOUR MONEY WORKING FOR YOU? Will it wind up costing you more money in the end or are you truly in a better position? Don’t figure it out on your own. For example, I have taken many clients out of their higher rate programs and put them into shorter terms, with lower rates and giving clients the added bonus of cash out. We can do this, not with Adjustable Rates, but fixed for life programs.

What if you had 25 years left and were able to jump down to a 20 year program for the same or less money, all while taking some cash for that new kitchen, home project or whatever need you have for it?

Don’t get sold on bad programs and high cost loans when we can show you how a little understanding can give you piece of mind and greater financial stability.

DO NOT DO IT ON YOUR OWN. HOW CAN YOU KNOW ALL THE PROGRAMS AVAILABLE TO YOU? Call us today so we can explain all the options.

Let our skills and expertise in mortgages help you. Why get shocked to find out you missed an opportunity to better your financial position? With all the changes in the mortgage market today and how much you spend for your home, can you afford to miss out on saving money?

Your money is just a phone call away.

Today s Mortgage Rates:

Our Staff will make sure you understand what program is best for you.

Are you better off paying closing costs OR let the lender pay for them?

30 year fixed 3.500% / 3.51% APR, 0 Points
20 year fixed 3.125% / 3.15% APR, 0 Points
15 year fixed 2.750% / 2.77% APR, 0 Points
7/1 ARM 3.250% / 3.81% APR, 0 Points
5/1 ARM 2.990% / 3.81% APR, 0 Points
Rates as of 09/16/2016

Great FHA rates Today.
30 year fixed 3.125% / 4.505% APR, 0 Points

VA loans are very popular with little to no equity and no Monthly PMI.
30 year fixed 3.250% / 3.396% APR, 0 points

Check out how we can get the lenders to pay your closing costs.

Rates based on a loan amount of 275,000, 740 Fico Score, 75% loan to value and 30 day lock period.
Rates are subject to change without notice.

Owe more than your house is worth?


Best Mortgage Interest Rates – Find Today – s Lowest Variable – Fixed Rates #home


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Location Please ensure your location is correct in order to find the best rates available in your area.

Best Mortgage Rates in Canada

Rates updated: September 17, 2016 12:06 PM

We shop the most competitive brokers, lenders and banks in Canada to bring you today’s lowest interest rates, free of charge! Our Canadian comparison charts list current rates and are updated regularly throughout the day. To compare a certain category, click “Compare all rates” for more details.

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If you need any help comparison shopping, read our most frequently asked questions below:

Why should I compare mortgage rates?

Not all mortgage rates are created equal. Mortgages can have vary with the terms and conditions, in addition to the interest rate. Each mortgage caters to an individual’s particular needs. If you want to find the best mortgage for you, you need to compare all of your options.

Should I get an open or closed mortgage?

‘Closed’ mortgages have lower rates when compared to their ‘open’ counter parts, and are more popular. Closed mortgages can come in fixed and variable form, but place a restriction on the amount of principal you can pay down each year. If you pay off the entire principal in a closed mortgage before the set term, you will face a penalty, such as a 3-month interest charge.

‘Open’ mortgages on the other hand, allow you to pay off your entire mortgage balance at any time throughout the term. The drawback is that you pay a premium for that option. People opt for open mortgages if they are planning to move in the short future, or if they are expecting a lump sum of money through an inheritance or bonus, that would allow them to pay off their entire mortgage.

What is the difference between a variable vs. fixed mortgage rate?

Fixed mortgage rates are more popular and represent 66% of all mortgages in Canada. With a fixed mortgage you can “set it and forget it” as you are protected against interest rate fluctuations, so your payment stays constant over the duration of your term.

Variable mortgage rates are typically lower than fixed rates, but can vary over the duration of the term. Variable mortgages are prone to market behaviour (via the prime rate) which affects your payments. That means your payment amounts can change over time. A fixed mortgage offers stability as your mortgage rate and payment will remain the same each month, but that security is the reason why fixed interest rates are greater.

How often are RateHub.ca mortgage rates updated?

The mortgage rates you see were updated today. Our mortgage rates are sourced through two methods: Mortgage brokers can log into our platform and update their rates instantaneously; and we source rates from Canadian bank websites to ensure the rates are current.

What are prepayment options?

Prepayment options outline the flexibility you have to increase your monthly mortgage payments or pay down your mortgage principal as a whole. The monthly prepayment option is a percentage increase allowance on your original monthly mortgage payment. For example, if your monthly mortgage payment is $1,000 and your prepayment allowance is 25%, then you can increase your monthly payments up to $1,250. The lump sum prepayment option on the other hand, applies to the original mortgage amount. So, if your lump sum prepayment allowance is 25% on a $100,000 mortgage amount, then you can pay $25,000 off the principal every year.

What is the mortgage ratehold?

The rate hold clause refers to how long before your mortgage renewal date you can lock in the prevailing mortgage rate, should that interest rate be a favourable one. The renewal date is the date on which the term of mortgage expires, not to be confused with the amortization period. So, for example, if you have a 5-year term on your mortgage, and a 90-day rate hold, then within 90 days before the expiration of the term, you have the option to lock in the current mortgage rate.

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Best Current Fixed 10-Year Mortgage Rates Refinance Rates: Compary Today s Ten Year Mortgages Interest


#10 year mortgage

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Today’s Ten Year Mortgage Rates

Pay Off Your Home Fast Save On Interest Payments

Why Go With a Fixed Rate?

A fixed mortgage rate is very advantageous to a homeowner because the rate of interest for the home loan taken will not vary throughout the loan period. There are different kinds of fixed loans depending upon the requirement of the homeowner and how much he is willing to pay. It is a fact that most people prefer an interest rate that doesn’t change through out the entire loan period. It is also true that fixed rates are initially higher than adjustable rates. But whatever the market is subjected to, those fluctuations will not affect your fixed rate.

For most people owning a house is a dream. They are ready to make any sacrifices to make this come true. Once they have made the decision to buy a house, they need to finance it. People generally prefer the lowest payment possible, but have they really thought about taking a loan for a longer period of time or have they tried to calculate the total cost of their loan? Financially, you have to make some adjustments before taking such loans. Some people go for short term loans because of the lower interest rates. But they are not aware of the threat of foreclosure when they get into a hurry to pay off home loans faster. Foreclosure happens when they fail to bring up funds for emergencies. Foreclosure is any homeowner’s nightmare. It happens when the bank which granted you the loan moves and seizes your property when the homeowners are either late or unable to pay off the loan.

The types of fixed loans available in the market are 10 year fixed rates as well as 15, 20, 25 and 30 year fixed rates. There is no tension for the homeowner because he knows exactly what amount constitutes the interest and also the principal payments. This is why it is best to go for a fixed 10 year. Fixed rates being predictable have led to their popularity. With adjustable loans you never know what is going to happen next.

Ten Year Mortgages

Before choosing a 10 year loan, check your assets and see if you have enough income or other assets to save yourself from the threat of foreclosure. 10 year rates are typically the lowest of all fixed rate programs. You can save a huge amount of money which you would have paid for interests of other types of loans. Sometimes, the interest rate could be double when your go for the adjustable loan rates.

Comparing The Ten Year

Just like a 10 year takes ten years to pay off, a 20 year fixed would take 20 years and a 30 year would take 30 years to finish off. Why opt for a 10 year fixed rate when you can choose the other types? After all, you have more time to pay the amount and complete the loan. With a ten year the main advantage is the cost. The interest rate is lower when compared to a 20 year or a 30 year note, and since you are paying off the loan far quicker interest has far less time to compound – yielding additional savings.

Hidden Costs

There are no hidden costs when you go for this type of loan. It also depends upon the organization from which you acquire your loan. Some organizations tend to ask fees for application forms and similar things. They may not mention it earlier because they want to make their costs look cheaper when compared to other organizations offering the same service. The best way to avoid this is by becoming shrewd, by reading all the fine print and checking if there are any loopholes. You will get a detailed idea of this when you go online and check the various companies and how they have maintained their rates. By checking interest rates of different companies through their websites, the possibility of hidden costs has dropped considerably. It is the duty of the customer to make sure that there are no additional costs dampening the benefits of the low interest rates.

Benefits

In times of financial crisis, you can sleep well because at least your interest rates will not skyrocket. The fluctuations in the market which impact adjustable mortgage rate loans will not affect your interest rates. Knowing that your principal and interest rates never change will facilitate the homeowner to make an easier budget schedule. Go for a fixed rate, namely the ten year one if you want the security that it provides or if you are in a hurry to pay off your home. If you can afford it, you should definitely go for it.

Shopping for the Best Fixed Rate

There are so many websites that provide online quotes and advise you on the current rates. Since the rates vary regularly, it is better to check them regularly and go for the one that you can afford. Currently the interest rates have come down to an all time low encouraging homeowner’s to choose various fixed rate options.

Estimate your payments with this free calculator . or compare loans side by side.

Disadvantages of Ten year Mortgage rates

When compared to other options, the higher monthly payments might turn off some people. But if you can afford the monthly payments there are not many disadvantages to a ten year. If you are not able to pay off within the 10 year time period, you are stuck. If you are sure you can make it within ten years, then don’t hesitate, just go for it. If you fear a turn for the worse in your financial condition within the next few years take the 20 year or 25 year or even the 30 year loan, so you can be on the safe side. You could always choose to pay extra on a longer term loan to pay it off quicker.

There is no significant change in the interest rates when you compare a 10 year to a 15 year. But there is one more thing to remember when you choose a 10 year fixed rate: what happens when you take a 10 year note and are not able to pay for it? If the payment is close to maxing out your budget, to be on the safe side try to choose a 15 year and try to pay it off in 10 years. That way if you are not able to pay it off in 10 years you still have five years to finish off the payment. Such moves will put you in an advantageous position in cases of recession or job loss. When you approach a loan company, ask them to give amortization schedules for 10, 15, 20, 25 and 30 years. The loan companies allow you to pay off the loan amount earlier than usual. This works as a safety net for you in case you encounter problems.

2007 – 2016 www.MortgageCalculator.org | Contact Us


Zillow – s Mortgage Rate Update #mortgage #calculation #formula


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Mortgage Rate Update

Mortgage Rate Update

Mortgage Rate Update for September 13, 2016

The average rate borrowers were quoted on Zillow was 3.31 percent.

Current mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow at 3.31 percent, up 2 basis points from last week.

The 30-year fixed mortgage rate rose Friday to 3.38 percent, then fell steadily back to the current rate over the rest of the week.

“Mortgage rates spiked almost 10 basis points late last week, reaching the highest levels since July before retreating, as markets react to the inevitability of tighter monetary policy in the U.S. and Europe,” said Erin Lantz, vice president of mortgages at Zillow. “This week markets are likely to be particularly jumpy in response to incoming data with eyes toward next week’s Federal Open Market Committee meeting.”

Additionally, the 15-year fixed mortgage rate was 2.56 percent, and for 5/1 ARMs. the rate was 2.66 percent.

Check Zillow for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

*The weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

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Nationwide Home Loans: Fort Lauderdale – s Premiere Mortgage Lender #home #mortgage #calculator #with #taxes


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Nationwide Home Loans For fast, reliable service … From a lender you can trust!

Nationwide Home Loans is a boutique residential direct lender focused on providing conventional, FHA, VA and Reverse Mortgage loans to first-time home buyers and the most seasoned of investors.

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Take advantage of our expertise and experience

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Our dedicated staff of mortgage professionals is committed to the challenging task of fitting the right loan to each qualified borrower and we are not satisfied until you are.

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LOAN PROGRAMS

These are conventional loans that follow the terms and conditions established by the guidelines of Fannie Mae and Freddie Mac. Conforming loans are equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac’s and meets their funding criteria.

Types of Conforming Loans

Fixed-Rate Mortgage
The interest rate and the principal payments remain fixed throughout the loan. Keep in mind your monthly escrow account payment could vary from year-to-year as taxes and insurance rates change.

VA Loans are guaranteed by the U.S. Department of Veterans Affairs. Service persons and veterans can qualify for a VA Loan, which usually offers a competitive fixed interest rate, no down payment and limited closing costs. While the VA does not issue the loans, it does issue a certificate of eligibility required to apply for a VA loan.

The FHA is a federal government agency within the U.S. Department of Housing and Urban Development.

FHA plays a significant role in helping low- to moderate-income families qualify for mortgages. FHA assists first-time buyers and others who would not qualify for a conventional loan, by providing mortgage insurance to private lenders. Interest rates for an FHA loan are usually the going market rate, while the down payment requirements for an FHA loan are lower than conventional loans. The required down payment can be as low as 3.5 percent and the closing costs can be included in the mortgage amount. The FHA isn’t a lender and doesn’t directly make home loans. Instead, the FHA insures home loans against the borrower’s default to encourage lenders to offer the loans to home buyers and homeowners at more affordable interest rates.

The FHA has a special program that can help you refinance your FHA loan through a streamline process that’s easier than the typical refinancing.

Here’s a summary of what an FHA streamline refinance is, what the advantages of an FHA streamline refinance are, how an FHA streamline refinance works and what the requirements are.

FHA Refinance Loan Streamline Process

It’s important to remember that “streamline” doesn’t mean you can refinance your FHA loan without any closing costs. Instead, “streamline” refers only to the process, which involves less documentation and other requirements than a typical mortgage refinance does. For example, an FHA streamline refinance loan might not require an appraisal. That’s a major advantage if you want to refinance but believe your home has declined in value.

Though the streamline refinance isn’t cost-free, your lender may allow you to finance the closing costs through a slightly higher interest rate on your new loan. That means you won’t have to pay a lot of cash out-of-pocket to streamline refinance your existing FHA-insured mortgage. Instead, you’ll pay a higher interest rate and your FHA lender will pick up the tab for the closing costs of your streamline refinance. If you refinance into an FHA loan with a lower interest rate, you’ll still save money on your monthly mortgage payment.

Qualifying for an FHA Streamline Refinance Loan

The basic requirements for an FHA streamline refinance are:

• The mortgage that you want to refinance must be an FHA-insured loan.
• You must be current (i.e. not delinquent) on your mortgage payments.
• The primary reason why you want to refinance your FHA loan must be to lower your monthly principal and interest payment.
• You cannot tap your equity (i.e. take out cash) if you use the streamline process.

The FHA streamline refinance loan program isn’t new; in fact, the streamline process has existed since the early 1980s. An FHA-approved lender can help you get started on your FHA streamline refinance loan.

A reverse mortgage is a low-interest loan for senior homeowners that uses a home’s equity as collateral. The loan amount is a percentage of the home’s value determined by the age of the youngest homeowner. The loan does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away. At that time, the estate has approximately 12 months to repay the balance of the reverse mortgage or sell the home to pay off the balance. All remaining equity is inherited by the estate. The estate is not liable if the home sells for less than the balance of the reverse mortgage.

A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the United States, but is $625,500 in the highest-cost areas and in-between in others. The cost of a jumbo loan is higher than a standard loan, so expect a higher interest rate for a jumbo loan.


KARL S MORTGAGE CALCULATOR #loan #calculator #home


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  • Mortgage calculators are used to help a current or potential real estate owner determine how much they can afford to borrow on a piece of real estate.
  • (Mortgage calculators) online financial tools available on many sites that allow potential buyers to plug in various personal financial figures to arrive at a mortgage value they can afford.
  • (Mortgage Calculators) Mortgage calculators are a good way to calculate your monthly mortgage repayments. Calculate your mortgage interest to ensure that you are getting the very best mortgage deal. By using one of these free mortgage calculators, you can save yourself a lot of time and money.
  • KARL (105.1 FM) is a radio station broadcasting a country music format. Licensed to Tracy, Minnesota, the station serves the Marshall, Minnesota area. The station is currently owned by Linder Radio Group.
  • Karl (in Eifel dialect: Koahl) is an Ortsgemeinde – a municipality belonging to a Verbandsgemeinde, a kind of collective municipality – in the Bernkastel-Wittlich district in Rhineland-Palatinate, Germany.
  • The characters from the American drama/adventure television series Lost were created by Damon Lindelof and J. J. Abrams. The series follows the lives of plane crash survivors on a mysterious tropical island, after a commercial passenger jet crashes somewhere in the South Pacific.
  • karl s mortgage calculator – An Idiot

    An Idiot Abroad: The Travel Diaries of Karl Pilkington

    The companion guide to the hysterical television show of the same name, in which Ricky Gervais and Stephen Merchant force their arrestingly simple pal Karl Pilkington on a global journey

    “He’d have been happier in medieval times in a village where you didn’t travel beyond the local community.” —Stephen Merchant

    A cult celebrity due to his role in The Ricky Gervais Show, the most-downloaded podcast ever, Karl Pilkington has been accused of being a comic creation, so unburdened is he by complex thought—but that is truly just him. The trio’s newest project mines Karl massive provinciality: put simply, Karl is not big on traveling. Given the choice, he’ll go on vacation to Devon or Wales or, if pushed, eat English food on a package tour of the Mediterranean. So what happened when he was convinced by Gervais and Merchant to go on an epic adventure to see the Seven Wonders of the World? Does travel truly broaden the mind? Find out in Karl Pilkington’s hilarious travel diaries.

    Our guest Karl Lagerfeld

    Karl Lagerfeld visited our forest for a photo shooting. It was very exciting.

    karl s mortgage calculator

    Presenting the Travel Diaries of Karl Pilkington: Adventurer. Philosopher. Knob head. Karl Pilkington isn’t keen on travelling. Given the choice, he’ll go on holiday to Devon or Wales or, at a push, eat English food on a package holiday in Majorca. Which isn’t exactly Michael Palin, is it? So what happened when he was convinced by Ricky Gervais and Stephen Merchant to go on an epic adventure to see the Seven Wonders of the World? Travel broadens the mind, right? You’d think so.

    Presenting the Travel Diaries of Karl Pilkington: Adventurer. Philosopher. Knob head. Karl Pilkington isn’t keen on travelling. Given the choice, he’ll go on holiday to Devon or Wales or, at a push, eat English food on a package holiday in Majorca. Which isn’t exactly Michael Palin, is it? So what happened when he was convinced by Ricky Gervais and Stephen Merchant to go on an epic adventure to see the Seven Wonders of the World? Travel broadens the mind, right? You’d think so.