By admin on July 4, 2010
Thinking of taking out an equity home loan? This might seem like a smart financial move – after all, these loans are tax deductible, they usually have lower interest rates and they are easier to get than other loans. If you’re keen on getting your money quickly, it might be tempting to try and secure [...]
Posted in Business and Finance | Tagged an, before, equity, getting, home, loan, preparation
By admin on May 6, 2010
Getting a loan pre-approval from a lender is a quick, easy process. Typically, you fill out a few pages about your financial situation, the bank runs the numbers through a computer approval system, and you’re pre-approved the next day.
So, how do so many people mess it up so badly? Simply put, people lie (either to [...]
Posted in Business and Finance | Tagged a, an, application, botch, builder, construction, example, from, home, how, loan, loans, owner, to
By admin on April 14, 2010
If you are paying 40% or more of your paycheck to your mortgage, there is nothing left to invest or to enjoy your life. Here is where it gets worse. Your ARM is designed to trap you into a lifetime of payments… That does not make sense right? You plan to [...]
Posted in Business and Finance | Tagged a, adjustable, an, arm, how, into, lifetime, mortgage, of, payments, rate, traps, you
By admin on April 10, 2010
A much advertised solution to current financial woes involves using your home to bail you out of trouble, by tapping into the equity available and presenting you with a sudden influx of cash. This can be a bad idea for several reasons.
The ATM Mentality
If you get in the habit of using credit cards to pay [...]
Posted in Business and Finance | Tagged an, atm, house, is, not, your
By admin on March 31, 2010
If an owner builder understands the differences between his construction loan and other, simpler types of mortgage financing, then he will be much better prepared when starting his planning and financing. Owner builder construction loans are a more complicated process than a standard mortgage to purchase or refinance a home. Therefore, they will require a [...]
Posted in Business and Finance | Tagged a, an, and, between, builder, construction, difference, loan, owner, purchase, simple, the, understanding
By admin on January 28, 2010
PMI is just extra fees and has nothing to do with your principal or your interest. Taking on two mortgages is only about the money you borrow and there are no extra costs such as private mortgage insurance. PMI or Private Mortgage Insurance is normally required when you buy a house with less than 20% [...]
Posted in Business and Finance | Tagged an, depth, in, insurance, mortgage, private, review
By admin on October 16, 2009
When looking to build your home as an owner builder, you will undoubtedly want to compare loan programs and closing costs. If you want an owner builder construction loan, you will need to make sure you are comparing apples to apples when looking at overall loan fees. A specialized owner builder loan will have [...]
Posted in Business and Finance | Tagged an, builder, closing, costs, expect, for, his, in, loan, owner, pay, should, to, what
