VA Home Loans If you served active duty in World War II, the Korean War, the Vietnam War or were a National Guard member or Reservist activated during the Persian Gulf Conflict and served at least 90 days before being honorably or generally discharged, you are eligible for a VA home loan. If you served during peacetime before 1980 you must have had more than 180 days of active service. If you served after 1980, you may have had to serve as much as two years to be eligible. 1 2 3 4 5 6 7 8 9
Bad Credit Refinance
There are many reasons to look into refinancing, especially if you have bad
credit or if you are currently being harassed by creditors. If you:
- Are in need of debt consolidation
- Have a high interest loan
- Have an adjustable rate mortgage
- Would like to invest in home improvement or repair
- Need to pay for college tuition
- Have significantly repaired your credit report and would like to pay off
an old bad credit loan.
- Want to make a major purchase but do not have the funds
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Home Equity There are a variety of loans based on the equity of a home that are available. Home equity loans, home equity lines of credit, and reverse mortgages are a few. A home equity loan, or second mortgage, is a secured fixed rate loan that uses property as collateral. This type of loan is given in a lump sum to be repaid monthly by the owner and is perfect for home owners wanting to fund home improvement or purchase a new car. 1 2 3 4 5 6 7 8 9
Land Loan It is not uncommon for land loans to carry an interest rate that is a few points higher because of the added risk. For this reason it is sensible to make a sizable down payment on the land loan because it will be rolled into a single mortgage with your construction loan once the property is finished. Because land is often snatched up quickly once it becomes available it pays to talk to a lender before beginning your hunt to discuss your finance options so you can move quickly when land becomes available. 1 2 3 4 5 6 7 8 9
Mortgage Calculation Mortgage calculation can help you foresee any snags that could occur in the future and also help you double check that the repayment schedule makes sense. Some borrowers have fallen prey to loan terms that cause negative amortization. Negative amortization occurs when the monthly payments of a loan do not adequately pay off the principal and accruing interest. In this case, the outstanding balance will increase instead of decreasing as you make your monthly payments. When this happens, it is generally with dishonest and, perhaps, questionable lenders. Though the odds are against this happening to you, it is a good idea to be aware of negative amortization and to take an interest in the make of your mortgages amortization. 1 2 3 4 5 6 7 8 9
Mortgages Online
The first terms you will come across in determining the conditions you want
for your mortgage are fixed and adjustable.
- Fixed rates are constant through out the repayment of your loan and give
you the stability of knowing your monthly payment will be the same at the
end of your loan as they were at the start.
- Adjustable rates are less predictable because they adjust with current rate
indexes and can rise or fall as your repayment period progresses. The lessened
stability of this loan is balanced out by lenient qualifying, low introductory
rates, and the knowledge that an adjustable rate loan has a cap, or ceiling
to keep the rate from rising too high.
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Reverse Mortgage A reverse mortgage is unlike most other loans in that it does not require that an applicant meet certain credit and income criteria or start immediate monthly repayment schedules. Instead, a homeowner qualifies on the bases of the value of the home, as long as he or she is 62 years of age or older. If you are interested in a loan with no monthly payments, fill out our short form today. 1 2 3 4 5 6
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