Real estate market

Web portals are as guilty of making extra profit on your loan as any loan originator on the street.  If you search for a loan on the web, you will run into two different types of companies.  One is a list broker.  They are not in the mortgage business.  It is their job to persuade [...]

Now, let me tell you the secret no broker or bank wants you to know.  Almost every loan has at least 2% (or 2 points), and more often than not, 3% in it for the broker or bank as the mark-up/profit. (This is a good time to toss in a little industry lingo).
A point refers [...]

The second mortgage market has been an increasingly active industry during the past two decades, especially as homeowners discover their uses and cost-effectiveness. Fannie Mae and Freddie Mac normally do not purchase home equity loans and home equity lines of credit. In fact, credit lines are usually either portfolio, with the originating lender keeping [...]

The American free market economy is vibrant, dynamic and always looking for additional, more profitable business opportunities. The non-conforming is one such market for financial investors and lenders. Fannie Mae, Freddie Mac and Ginnie Mae only serve A-credit borrowers, who meet those agencies’ strict guidelines regarding income, employment, assets, property, etc. For a [...]

Mortgage loans can normally be categorized according to three categories, depending on how they are handled by the lender after closing:
● Portfolio
● Conforming
● Non-conforming
A portfolio loan is kept by the lender in its “portfolio” rather than sold to the secondary mortgage market. [...]

If the borrower in a refinance has at least two mortgages—both a first mortgage and a second mortgage—on the subject property, that borrower will have three refinancing options, which have different challenges:
● Consolidation. The borrower may choose to pay off both loans with a new refinance loan. This refinance loan [...]

Although a refinance can lower your monthly payments, it may not always be a good idea. A homeowner who has already paid off ten (10) years of a 30-year loan, would be unwise to refinance to another 30-year loan–even if the rate were lowered. It may even be unwise to refinance to a 20-year [...]

Mortgage refinances tend to be more simple than purchase loans. Since 1990, refinances have also become more commonplace.
During the 1970s and 1980s, mortgage interest rates tended to be very high. During much of the period, home buyers had to settle for double-digit rates on their mortgage financing. This was due to the [...]