Pros and cons of assumable mortgage

Before you buy your home, consider the advantages of assumable mortgage.

When people are planning to buy a home and they don’t have enough cash, they are planning to apply for some of the common types of mortgages. Most of them for one reason or another, fail to consider a type of mortgage called assumable mortgage. As the name implies, this

Adjustable rate mortgage explained

Before deciding for which type of mortgage to apply, try to understand the ARM.

Regardless of the loan you are shopping for, you should always pay attention to all costs associated with it. Namely, you should inform your self about the different fees, as well as the type of interest rate charged by the lender. Understanding these costs could help you in your decision

Negative amortization – do you know how it can affect your finances?

Watch out for the possibility for negative amortization on your loan.

Before talking about the negative amortization there are two basic things that should be briefly explained. Namely, when taking out a loan you should be acquainted with terms such as: loan amortization and loans amortization schedule. In simple words, loan amortization is the process of paying off the principal amount

Interest rate hike first in 2017 – Good news for saving accounts

Savers can earn more money if the trend of rise in FED interest rate continues

The expected interest rate hike took place on 15th of March 2017. Let’s not forget that there are expectations for an additional increase in Federal Fund rate by the end of 2017. A total of three interest rates hikes is expected for this year. Increase in interest rate is showing

Loan amortization defined

Understanding a loan amortization is important before taking out a loan

The need for a loan is imposing the need for you to understand different aspects associated with any loan. There are things such as interest rate, collateral, cosigner, repayment period, monthly payments, early repayment, etc. stated in the agreement. How many of these items in your loan agreement do you

Rent to own home – benefits and pitfalls

Get acquainted with the pros and cons of rent to own

            The firs time home buyer can be faced with numerous obstacles when trying to buy a home for the first time. The obstacles can be in the form of low credit score or no credit score, lack of funds for the down payment, inability to qualify for mortgage, etc.

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