Archive for Home Loans
Home Mortgage Loan Refinance
Posted by: | CommentsRefinancing a fixed rate mortgage is usually only suggested when interest rates fall, but you can also save money by changing your loan terms. You can also pull out part of your equity to pay bills or renovate.
Lower Interest Rates
In general when interest rates are at least 1% lower than your current mortgage rate, it pays to refinance. But you need to consider other factors, such as the length of your mortgage, loan costs, and how long you plan to stay in your home.
Setting up a Home Office on a Shoestring Budget
Posted by: | CommentsWorking from home is becoming a more popular option with many in today’s workforce. Whether you telecommute or have abandoned the rat race in favor of setting up your own home business, or just simply need a place to land to take care of the bill paying and the home organization chores, a home office has become a necessary space in many homes. Whether you set up a corner office in your kitchen, designate a guest room to double as your office, or set up a location in your basement, it’s crucial that your home office include all the elements that contribute to your productivity, efficiency and overall success.
Home Equity Loan vs. 401(K) Loan
Posted by: | CommentsYou’ve finally decided to add that patio you’ve always wanted to your home. Now you can enjoy barbecue outdoors and get a little fresh air every now and again. But how are you going to pay for it? If you’re like most people, you don’t have cash for home repairs just lying around the house. You’ll have to borrow. So where should you go to borrow? Mortgage rates are low these days, so a home equity loan would be pretty affordable, as would a home equity line of credit (HELOC) if you have a number of remodeling projects in mind.
Home Equity Can Create a Never-Ending Money Cycle
Posted by: | CommentsWhat could you do with $10,000? Well, you can have it, now in a new home equity loan! Did you know that if you have been in your home for just one full year, you may already have the opportunity to take out huge dollars in equity from your home — tens of thousands, even! Did you also know that you can get this money with no closing costs, use it any way you like, and, best of all, it will cost you as little as the price of your cable bill each month, and you can create an amazing money cycle that will give you an endless supply of cash.
Home Equity Loans – With A Reverse Mortgage, Your Home Pays You!
Posted by: | CommentsThe home equity loan has become quite popular in the last five years, and Americans have tapped into the equity of their homes in record numbers. The reasons vary, although home improvement and debt consolidation are the most common reasons for borrowing against a home’s equity.
Home Equity Loan – When Does Refinancing Make Sense
Posted by: | CommentsFor the last two years, interest rates have been much lower than anytime during the last thirty years. This has resulted in an unprecedented boom in real estate sales, home refinancing and home equity lending, as borrowers try to take advantage of these rates for the long term. But refinancing or even borrowing against your home’s equity may not make sense for everyone. When is it a good idea to refinance your home? When is it not advisable?
Home Equity Loan – Beware Of Appraisal Fraud
Posted by: | CommentsA new report by the independent Demos group has revealed what may not be a surprise to many people – corruption is rampant in the home appraisal industry. The bust in the dot-com market of some five years ago has left would-be lenders with a surplus of cash to lend. This has led to a huge boom in both mortgage and home equity loan lending. That’s not a bad thing; a record 69% of Americans now own their own homes. Owning a home is easier than ever; in 2004 the average down payment was a record low of only three percent.
Home Equity Loan – A Reverse Mortgage Could Provide A Comfortable Retirement
Posted by: | CommentsWhile only comprising about 1% of all mortgages, the reverse mortgage has gained in popularity in recent years. Federally insured since the late 1980’s, the reverse mortgage allows owners of paid-off homes to borrow against the equity in their homes in the form of a lump sum, a line of credit, or in the form of monthly payments. The loan is repaid when the owners die or when the home is sold or no longer occupied.