Loan

the first blog I made for this topic. Read it at: https://danielines.wordpress.com/2016/01/05/the-top-misconceptions-of-buyers/ I ONLY NEED DOWNPAYMENT TO BUY A HOME There's still a lot of home buyers who thought that after making sure that their loan is approved, they only need down payment money to buy a home. This is incorrect as there are other costs associated with home buying. Some of these home buying costs includes: •…

learn how to manage their money, reduces reliance on students loans, and also teaches them responsibility. Having a job and going to college can be stressful and tiring but it helps you learn how to balance your life. Working during college has many benefits. Many students feel that taking on a part-time job will distract…

your mortgage loan fluctuates; meaning it can go up or go down, depending upon the market condition. The ARM is made up of two parts. The first is the INDEX or that part of the interest rate that is forever changing as affected by inflation and different market factors and is not constant. This is often referred to as the benchmark interest rate. The other is the MARGIN (or a ‘spread’) which is the amount that a lender charges and is constant all throughout the term of the loan. Combining the…

These mortgage loans are used for borrowers to buy their properties, whether residential or commercial (Burks, 2016). Mortgage loan officer typically work from his/her office or home and go on various meeting with clients. When the mortgage loan officer is working for commercial, he/she will need to go visit the property to conduct business. However, if the mortgage loan officer is specialized in customer loan the traveling is at a minimum and most work is done…

price of $569,000, Conventional/Jumbo loan. The buyer is paying for her own Title and Escrow, with a 45 day close of Escrow. My clients have been preapproved by Quicken loans, and is also working with another local lender Jack Kammer, from Scenic Oaks. Mr. & Mrs. Asmus has provided you full permission to contact Jack at (707)591-3191 or email jkammer@scenicoaks.com. Please feel free to reach out to Jack if you have any questions or concerns regarding the loan. My client’s Mr. & Mrs. Asmus…

In his essay “The Mansion: A Subprime Parable,” Michael Lewis reported that most Americans tend to desire houses they cannot afford. They start blaming rating agencies and mortgage brokers because they find themselves financially underwater. But according to Lewis claim, the lending business didn’t create this desire. The people did. He explains that most people want a house that reflects how well they are. They think that they will control the house but the truth that the house controls every…

Mortgage originators outwitted borrowers about the terms of the loans and sold them to borrowers who were unable to pay due to give the amount of wealth they accumulated. Banks bundled up the mortgages into Mortgage backed securities without further assurance of what they are doing is right or not. Issuers of mortgage backed securities made false claims about their assets and created frauds when selling them to clients and others. Profits were made so why stop? The amount of wealth given to the…

case that you are not able to repay the overdue amount in time. Common examples of unsecured debt, other than credit cards, are medical bills and store cards where you aren't putting up any materials as security for the debt. Car payments and home loans however do have physical items attached. Bankruptcy…

One of the best ways to simplify your mortgage shopping experience is to obtain a prequalification using a mortgage broker. A prequalification is one of the first steps in the mortgage approval process, and it usually involves answering some basic questions about your ability to repay any financing. Prequalification vs. Preapproval However, getting prequalified for a mortgage and receiving a preapproval from a lender are two different steps in the process. A prequalification involves you and…

enterprise that is government-sponsored, they are in the mortgage loan business, buying mortgages from larger banks and selling them as mortgage backed securities or agency bonds. The mortgages Fannie Mae tend to purchase are from commercial bonds.…