Investors are hoping to recoup losses, homeowners want to refinance at the lowest possible rates and homebuyers want a good deal on rates. The big question is will the Fed help by cutting rates during its FOMC meeting September 24th. Mortgage Loan Search is poised to bring the news to the public via its new financial tips, tools, news portal and mortgage rate alert program.
"Our mortgage rate alert program is designed to keep the consumers informed about current financial issues and breaking financial news stories paramount to saving money and avoiding or recouping financial losses", says Mark Askew, founder of the Mortgage Loan Search Network at http://www.mortgageloansearch.cc. "We want users to know their options and move in the direction that's best for them", he adds.
Mortgage Loan Search has partnered with MSNBC and the Moreover.com news network as well as lending marketplaces offering a veritable low loan rate shopping center where lenders compete for consumers business by offering lower rates than the other guy.
Currently Mortgage Loan Search will give priority to the Fed rate cut issue up until the September 24th FOMC meeting.
The MLS network advises consumers to consult their investment and mortgage professional to determine what loan programs, rate offers and investment strategies that will work best for them.
http://www.re-loan.org/refinance-news/issue16.php
Wednesday, October 31, 2007
Mortgage Financing
Mortgage financing is a financing mechanism for the purchase or refinance of real estate, with the borrower pledging real estate to the lender as a security for the loan. It is recommended when the borrower wants to purchase a property, consolidate debt, refinance etc. It is a better way to take equity out of the property.
Prerequisites for a Mortgage financing:
Getting a good lender for mortgage financing, is equally as important as deciding on the home you want to buy. A good mortgage lender can provide you a good financing deal. While shopping around for a mortgage lenders, it should be kept in mind that the mortgage lender should be the member of MBA ( mortgage bankers association of America).
When going for the mortgage financing the following questions are asked by the lenders:
1. What is your gross income per month?
2. What are your current monthly liabilities?
3. How much money do you have available for down payment?
Some lenders offer mortgage financing backed by Federal housing administration of the department of veteran affairs. The amount of down payment and the term of the loan are the prime factors in mortgage financing. The longer the loan terms, and larger the down payments, the smaller the monthly payments will be. Rates of interest also have a significant role to play here, as rates of interest are directly proportional to the down payment. Financing for more than 80% of the home purchase price requires private mortgage insurance.
http://www.re-loan.org/refinance-news/issue17.php
Prerequisites for a Mortgage financing:
Getting a good lender for mortgage financing, is equally as important as deciding on the home you want to buy. A good mortgage lender can provide you a good financing deal. While shopping around for a mortgage lenders, it should be kept in mind that the mortgage lender should be the member of MBA ( mortgage bankers association of America).
When going for the mortgage financing the following questions are asked by the lenders:
1. What is your gross income per month?
2. What are your current monthly liabilities?
3. How much money do you have available for down payment?
Some lenders offer mortgage financing backed by Federal housing administration of the department of veteran affairs. The amount of down payment and the term of the loan are the prime factors in mortgage financing. The longer the loan terms, and larger the down payments, the smaller the monthly payments will be. Rates of interest also have a significant role to play here, as rates of interest are directly proportional to the down payment. Financing for more than 80% of the home purchase price requires private mortgage insurance.
http://www.re-loan.org/refinance-news/issue17.php
Subscribe to:
Posts (Atom)