Mortgages - Home Loans
The mortgage center covers everything you'll need to secure the best mortgage or refinance your existing mortgage. We'll cover the different types of mortgages and the steps you should be prepared for ahead of any mortgage transaction.
Get a Mortgage
If you're considering a home purchase in the near future - or within a few years - you should brush up on your mortgage knowledge. Learn what to do before applying for a mortgage, what to watch for during the process, and how to use a mortgage after you've bought your home.
If you're considering a home purchase in the near future - or within a few years - you should brush up on your mortgage knowledge. Learn what to do before applying for a mortgage, what to watch for during the process, and how to use a mortgage after you've bought your home.
Private Mortgage - How to do a Private Mortgage
With a private mortgage, you don’t borrow from a bank. Instead, you borrow from another person or business. Whether it’s your only option, or one of many, you should understand how a private mortgage works. Find out what it takes to successfully use a private mortgage.
With a private mortgage, you don’t borrow from a bank. Instead, you borrow from another person or business. Whether it’s your only option, or one of many, you should understand how a private mortgage works. Find out what it takes to successfully use a private mortgage.
Home Mortgage Refinancing Mistakes
Home mortgage refinancing can save you money or get you into trouble. The lure of lower interest rates and monthly payments may look good, but you have to understand the risks. Let’s review how home mortgage refinancing can get you into trouble.
Home mortgage refinancing can save you money or get you into trouble. The lure of lower interest rates and monthly payments may look good, but you have to understand the risks. Let’s review how home mortgage refinancing can get you into trouble.
Mortgage Refinancing
Mortgage refinancing is an important move. You can save a lot of money or make an expensive mistake. If you’re considering mortgage refinancing, arm yourself with knowledge. Let’s review the basics and what you need to do to prepare.
Mortgage refinancing is an important move. You can save a lot of money or make an expensive mistake. If you’re considering mortgage refinancing, arm yourself with knowledge. Let’s review the basics and what you need to do to prepare.
Getting a Mortgage
If you're considering a home purchase in the near future -- or within a few years -- you should brush up on your mortgage knowledge. This page tells you what you should do before applying, what to watch for during the process, and how to use a mortgage after you've bought your home.
If you're considering a home purchase in the near future -- or within a few years -- you should brush up on your mortgage knowledge. This page tells you what you should do before applying, what to watch for during the process, and how to use a mortgage after you've bought your home.
Mortgage Loan Calculators
Mortgage loan calculators help you understand your loan. This page covers several mortgage loan calculators for different types of mortgages, and different pieces of your mortgage. By running the numbers yourself, you can understand what you’re getting into. Use these mortgage loan calculators to educate yourself, save time, and get the best deal.
Mortgage loan calculators help you understand your loan. This page covers several mortgage loan calculators for different types of mortgages, and different pieces of your mortgage. By running the numbers yourself, you can understand what you’re getting into. Use these mortgage loan calculators to educate yourself, save time, and get the best deal.
Mortgage Crisis Overview
In 2007, the US economy entered a mortgage crisis that caused panic and triggered other financial problems. The mortgage crisis was a result of too much borrowing, largely based on the assumption that home prices only go up. Let’s review how the mortgage crisis unfolded.
In 2007, the US economy entered a mortgage crisis that caused panic and triggered other financial problems. The mortgage crisis was a result of too much borrowing, largely based on the assumption that home prices only go up. Let’s review how the mortgage crisis unfolded.
High Risk Mortgages
A quick overview of mortgages that have caused problems for borrowers. You'll find a description of each one along with links to more detailed resources. Make sure you know what you're getting into if you use one of these loans.
A quick overview of mortgages that have caused problems for borrowers. You'll find a description of each one along with links to more detailed resources. Make sure you know what you're getting into if you use one of these loans.
APR Pitfalls - Getting the Wrong Mortgage by Comparing APR
A smart borrower will shop the market. As you compare loans, you may use the annual percentage rate (APR) as a yardstick. However, APR can lead you astray. This page discusses the pitfalls of using APR to compare loans.
A smart borrower will shop the market. As you compare loans, you may use the annual percentage rate (APR) as a yardstick. However, APR can lead you astray. This page discusses the pitfalls of using APR to compare loans.
Interest Only Loans
A quick overview of how interest only loans work. Discussion of the advantages and disadvantages of interest only loans, and resources for calculating payments on these loans.
A quick overview of how interest only loans work. Discussion of the advantages and disadvantages of interest only loans, and resources for calculating payments on these loans.
Second Mortgages - Advantages and Disadvantages
When you need money, sometimes a second mortgage is the answer. Second mortgages serve a variety of purposes, and are described with various names. This page is a basic overview of second mortgages, how they are used, and disadvantages of second mortgages.
When you need money, sometimes a second mortgage is the answer. Second mortgages serve a variety of purposes, and are described with various names. This page is a basic overview of second mortgages, how they are used, and disadvantages of second mortgages.
Mortgage Calculator With Amortization Table
The mortgage calculator is intended to help you figure out how much your mortgage payments might be. In addition, you'll get an idea of how much interest you pay over the years.
The mortgage calculator is intended to help you figure out how much your mortgage payments might be. In addition, you'll get an idea of how much interest you pay over the years.
FHA Home Loan Pitfalls
FHA home loans are not perfect for all borrowers. Of course, they make home ownership a reality for a number of buyers. In fact, they’re the perfect choice for buyers with a certain profile – who might otherwise be forced to rely on predatory lenders. However, FHA home loans have some drawbacks that you just need to be aware of.
FHA home loans are not perfect for all borrowers. Of course, they make home ownership a reality for a number of buyers. In fact, they’re the perfect choice for buyers with a certain profile – who might otherwise be forced to rely on predatory lenders. However, FHA home loans have some drawbacks that you just need to be aware of.
Option ARM Loans
Option ARM loans are mortgages that give a borrower a choice on how much a given payment is. While their flexibility makes them appear attractive, option ARM loans can be quite dangerous. This page offers an overview of option ARMs.
Option ARM loans are mortgages that give a borrower a choice on how much a given payment is. While their flexibility makes them appear attractive, option ARM loans can be quite dangerous. This page offers an overview of option ARMs.
Low Documentation Loans
Low documentation loans allow you to borrow without proving that you have the income or assets to repay the loan. There are a variety of reasons to use a low documentation loan, and there are several options available. This page tells you how low documentation loans work.
Low documentation loans allow you to borrow without proving that you have the income or assets to repay the loan. There are a variety of reasons to use a low documentation loan, and there are several options available. This page tells you how low documentation loans work.
How First Time Home Buyer Loans Work
First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you should use a first time home buyer loan. These programs have restrictions and strings attached.
First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you should use a first time home buyer loan. These programs have restrictions and strings attached.
Fixed Rate Mortgages
Fixed rate mortgages allow a borrower to know in advance what all future payments will be. The rate on a fixed rate mortgage should be competitive, and depends on what general interest rates are at the time. To learn all the details, including how to get the best fixed rate mortgage, read this article.
Fixed rate mortgages allow a borrower to know in advance what all future payments will be. The rate on a fixed rate mortgage should be competitive, and depends on what general interest rates are at the time. To learn all the details, including how to get the best fixed rate mortgage, read this article.
Mortgage Help Basics
Since the mortgage crisis boiled to a head in 2008, several mortgage help programs were put in place to help homeowners avoid foreclosure. Over time, the programs evolved to address borrowers in need of different types of mortgage help. Let’s review some of the major programs available.
Since the mortgage crisis boiled to a head in 2008, several mortgage help programs were put in place to help homeowners avoid foreclosure. Over time, the programs evolved to address borrowers in need of different types of mortgage help. Let’s review some of the major programs available.
Quick Tips for a Successful 2nd Mortgage
2nd mortgages can be tempting because you can get a large amount of money. However, there are some common pitfalls you should keep an eye out for. Take a quick glance over these 2nd mortgage quick-tips. You’ll be in a better position to negotiate the best 2nd mortgage.
2nd mortgages can be tempting because you can get a large amount of money. However, there are some common pitfalls you should keep an eye out for. Take a quick glance over these 2nd mortgage quick-tips. You’ll be in a better position to negotiate the best 2nd mortgage.
Excel Mortgage Calculation Tips
If you really want to analyze the nuts and bolts of a loan, you can use a spreadsheet such as Microsoft Excel. If you're an Excel whiz, you can set up a spreadsheet that allows you to change the inputs and calculate mortgage payments under several "what-if" scenarios. Your Excel mortgage model will show how your loan amortizes over time.
If you really want to analyze the nuts and bolts of a loan, you can use a spreadsheet such as Microsoft Excel. If you're an Excel whiz, you can set up a spreadsheet that allows you to change the inputs and calculate mortgage payments under several "what-if" scenarios. Your Excel mortgage model will show how your loan amortizes over time.
Adjustable Rate Mortgages
Adjustable rate mortgages (ARMs) are home loans with a rate that varies. As interest rates rise and fall in general, rates on adjustable rate mortgages follow. These can be useful loans for getting into a home, but they are also risky. This page covers the basics of adjustable rate mortgages.
Adjustable rate mortgages (ARMs) are home loans with a rate that varies. As interest rates rise and fall in general, rates on adjustable rate mortgages follow. These can be useful loans for getting into a home, but they are also risky. This page covers the basics of adjustable rate mortgages.
Points - Discount Points And Your Mortgage
Points are dollars you pay as a percentage of your loan. A common use for points is to secure a lower interest rate on your loan. We'll cover how points work and highlight some ways to calculate whether points are worth the expense.
Points are dollars you pay as a percentage of your loan. A common use for points is to secure a lower interest rate on your loan. We'll cover how points work and highlight some ways to calculate whether points are worth the expense.
FHA Loans
The Federal Housing Administration (FHA) runs several programs to promote home ownership. In most cases, FHA loans are mortgages obtained with the help of the FHA. With a small down payment, buyers can purchase a home. FHA loans make it easier for people to qualify for a mortgage, but they’re not for everybody.
The Federal Housing Administration (FHA) runs several programs to promote home ownership. In most cases, FHA loans are mortgages obtained with the help of the FHA. With a small down payment, buyers can purchase a home. FHA loans make it easier for people to qualify for a mortgage, but they’re not for everybody.
Calculate Mortgage
Some people want to know how to calculate mortgage payments. You don’t really need to do the work, but if you’re curious you can certainly do so. To calculate mortgage payments, you need to know a few details about the loan. Let’s go through the steps and tools you can use to calculate mortgage payments.
Some people want to know how to calculate mortgage payments. You don’t really need to do the work, but if you’re curious you can certainly do so. To calculate mortgage payments, you need to know a few details about the loan. Let’s go through the steps and tools you can use to calculate mortgage payments.
Home Equity Loan Tax Deduction
One nice feature of home equity loans is that borrowers may get a tax deduction on interest paid for the loan. Before you fall for a marketing campaign, you should understand that the tax deduction is not unlimited. This page explains how the tax deduction really works.
One nice feature of home equity loans is that borrowers may get a tax deduction on interest paid for the loan. Before you fall for a marketing campaign, you should understand that the tax deduction is not unlimited. This page explains how the tax deduction really works.
Interest Only Mortgage Calculator
The interest only mortgage calculator helps you figure out what a monthly payment might be on an interest only mortgage loan. You simply enter the principal amount and interest rate. The interest only mortgage calculator is intended to help you make smart decisions about your home loan.
The interest only mortgage calculator helps you figure out what a monthly payment might be on an interest only mortgage loan. You simply enter the principal amount and interest rate. The interest only mortgage calculator is intended to help you make smart decisions about your home loan.
Negative Amortization Loans
A negative amortization loan is a type of loan that doesn’t reduce your balance. In other words, you're not paying back any principal. In fact, with a negative amortization loan your loan balance increases over time.
A negative amortization loan is a type of loan that doesn’t reduce your balance. In other words, you're not paying back any principal. In fact, with a negative amortization loan your loan balance increases over time.
Podcast Profile - Beyond the Rate Podcast
A series of informative discussions about mortgages.
A series of informative discussions about mortgages.
HELOC - Definition of HELOC
A HELOC is a Home Equity Line of Credit. The abbreviation is pronounced "he-lock". This page covers the basics of HELOCs and what you need to know about using a HELOC.
A HELOC is a Home Equity Line of Credit. The abbreviation is pronounced "he-lock". This page covers the basics of HELOCs and what you need to know about using a HELOC.
Mortgage Refi Basics
Mortgage refi refers to a transaction where you refinance your mortgage. With a mortgage refi, you get rid of an old loan and replace it with a new one. Mortgage refis can help you save money, but they have costs and risks. Let’s review the basics of mortgage refi transactions.
Mortgage refi refers to a transaction where you refinance your mortgage. With a mortgage refi, you get rid of an old loan and replace it with a new one. Mortgage refis can help you save money, but they have costs and risks. Let’s review the basics of mortgage refi transactions.
40 Year Mortgages
40 year mortgages are loans scheduled to be paid off over 40 years. They are popular with borrowers who want a low monthly payment. Of course, most people don’t keep a mortgage for 40 years, so 40 year mortgages are just used as a cash flow tool. Let’s get into detail about how 40 year mortgages work and whether or not they’re right for you.
40 year mortgages are loans scheduled to be paid off over 40 years. They are popular with borrowers who want a low monthly payment. Of course, most people don’t keep a mortgage for 40 years, so 40 year mortgages are just used as a cash flow tool. Let’s get into detail about how 40 year mortgages work and whether or not they’re right for you.
50 Year Mortgages
50 year mortgages are loans scheduled to be paid off over 50 years. Because the loan term is so long, monthly payments are very low relative to other loans. 50 year mortgages are just used as a cash flow tool and are almost never paid off over 50 years. Let’s get into detail about how 50 year mortgages work and whether or not they’re right for you.
50 year mortgages are loans scheduled to be paid off over 50 years. Because the loan term is so long, monthly payments are very low relative to other loans. 50 year mortgages are just used as a cash flow tool and are almost never paid off over 50 years. Let’s get into detail about how 50 year mortgages work and whether or not they’re right for you.
Government Mortgage Help Programs
The financial crisis led to a variety of government mortgage help programs. Unfortunately, they can be difficult to find. Advertisements talking about new legislation rarely lead you down the right path. Let’s review what the programs are, and where you can find real government mortgage help.
The financial crisis led to a variety of government mortgage help programs. Unfortunately, they can be difficult to find. Advertisements talking about new legislation rarely lead you down the right path. Let’s review what the programs are, and where you can find real government mortgage help.
Homebuying at About.com
About.com has an extensive resource available to homebuyers. Whether you're a first-time homebuyer or a seasoned veteran you'll find some excellent tips here.
About.com has an extensive resource available to homebuyers. Whether you're a first-time homebuyer or a seasoned veteran you'll find some excellent tips here.
Payoff Letter Basics
A payoff letter is a document describing how you can pay off your home loan. As you prepare to pay off the loan, you should request an official payoff letter to avoid any confusion. Let’s review what payoff letters are and why they’re important.
A payoff letter is a document describing how you can pay off your home loan. As you prepare to pay off the loan, you should request an official payoff letter to avoid any confusion. Let’s review what payoff letters are and why they’re important.
How Mortgages Work
An in-depth explanation of how mortgages work. Includes details about various types of mortgages.
An in-depth explanation of how mortgages work. Includes details about various types of mortgages.
Getting the Best Home Loan
If you're thinking of getting a home loan, this article provides some of the best advice available. The Federal Reserve Board, a U.S. Government entity, created this friendly article to make sure you can find the best home loan. It includes home loan definitions and a home loan shopping worksheet for easy comparisons.
If you're thinking of getting a home loan, this article provides some of the best advice available. The Federal Reserve Board, a U.S. Government entity, created this friendly article to make sure you can find the best home loan. It includes home loan definitions and a home loan shopping worksheet for easy comparisons.
Yahoo! Finance Mortgages
Yahoo! Finance is a good place to read headlines and use online financial calculators. You can get a good start on the mortgage process here.
Yahoo! Finance is a good place to read headlines and use online financial calculators. You can get a good start on the mortgage process here.
Genworth's HomeNow
Genworth Financial has some in-depth resources that will help you calculate your borrowing power and payments. You'll also find out what the mortgage process is all about. This site requires free registration, and it contains a wealth of resources.
Genworth Financial has some in-depth resources that will help you calculate your borrowing power and payments. You'll also find out what the mortgage process is all about. This site requires free registration, and it contains a wealth of resources.