Tag: mortgage

Who should I bank with? A building societies or Bank?

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Even if one wanted to bank with a building society, it is becoming increasingly hard to find one on the High Street, and even online. Most of the familiar names have already converted: Bradford and Bingley, Halifax, Alliance and Leicester, and the Woolwich. The almost inevitable acquisition by larger banks

How to choose interest rate on your mortgage?

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Failure to select the best interest rate for your loan could result in higher loan costs.

In times when Fed is increasing the short term rate, it would be wise for you as a borrower to know how to choose interest rate for your mortgage. The decision on your interest rate will impact your finances in the future. Thus, it is not something that you should

Pros and cons of assumable mortgage

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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

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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?

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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

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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

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