Ask Mr Mortgages

Articles about mortgages.

Latest Articles

∞ 3 months, 3 weeks ago

How do I know which type of mortgage is best for me?

There are many types of mortgages, and the more you know about them before you start, the better. Most people use a fixed-rate mortgage. In a fixed-rate mortgage, your interest rate stays the same for the term of the mortgage, which normally is 30 years. The advantage of a fixed-rate mortgage is that you always know exactly how much your...

Share 0
0
0 +Like

∞ 3 months, 3 weeks ago

Can I qualify for a HUD reverse mortgage?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home. You are further required to...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

Home Equity Line Payments

Equity Line Payment Options You will have to choose 1 of 2 payment options at the closing of the Home Equity Line: Full principal & interest payment; pay the line off in a predetermined timeframe (10, 15, or 20 years). Interest-Only payments, in order to pay the lowest per month payment this option allows you to only pay interest...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

Advantages of obtaining a Home Equity Line Of Credit.

Are you currently looking to get a Home Equity Line of Credit but don't know if it is the right way to go? Well here are some advantages of a HELOC that will clear up some of the confusion you are experiencing. Interest rates given for HELOCs are typically lower than personal loans from Banks. Interest on a Home Equity is tax...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

What is a 125% Home Equity?

A very popular line of products to come out over the past few years has been the ability to borrow more than that value of your property. In most cases you can borrow up to 125% of the value. It has become so popular because of the soaring home values, depending on the area in which you live you could have your property increase by the...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

Is Debt Consolidation right for you?

Are you a candidate for debt consolidation? Are your credit card balances increasing every month? Do you only pay the minimum payment? Do you think your installment loan payments are too high (car loans or personal loans)? If you answered yes to any or all of the above questions then its time for you to review your overall debt...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

How a debt consolidator can reduce your debt.

If your mailbox is overflowing with credit card bills, and you're wondering if there's a way to make your finances more manageable, you may want to consider debt consolidation. Companies and organizations that specialize in debt management can help you consolidate your debts into one monthly payment. Moreover, they can also help reduce your...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

Advantages and Disadvantages of Debt Consolidation Refinance

When you are considering a debt consolidation refinance there are a few things to keep in mind. Don't be too quick to jump into a new loan without weighing all the factors involved. Review some of the advantages of debt consolidation: Consolidating multiple monthly payments into 1 payment each month. Typically this new payment is...

Share 0
0
0 +Like

∞ 5 years, 1 month ago

Home Equity Loans & Line of Credit

What are your current financial needs? Do you have new or unfinished Home Improvement projects and need the money fast to complete them? Do you want to update or upgrade your home? Do you need to refinance a car loan? Types of Home Equity Debt Home Equity Lines: home equity lines act like a credit card. You borrow on the...

Share 0
0
0 +Like

Browse All 205 Articles

Updated categories

Follow

Home Equity

4 articles curated by askmrmortgages updated 3 months, 3 weeks ago

askmrmortgages added How do I know which type of mortgage is best for me?

3 months, 3 weeks ago
askmrmortgages added Can I qualify for a HUD reverse mortgage? to category Reverse Mortgage Loans

3 months, 3 weeks ago