How to Get a Mortgage for a Repossessed Home

A repossessed home can be a good opportunity for a potential homebuyer to ascend the first step of the property ladder. These homes are available at lower prices than usual. Lenders do not generally make available information on mortgage products for repossessed property. However, an enquiry about packages may...

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Taking out a Flexible Mortgage for Home Renovation

A home improvement job is a popular reason for taking out a second mortgage. If you are not over with the repayments of the primary mortgage, it is crucial to obtain a deal that makes for manageable reimbursements on the additional loan. A flexible mortgage is a good idea...

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The Benefits of a Superior Mortgage Sourcing Software

A mortgage broker has to decide on an appropriate loan package for a client based on the individual needs and qualifications of the applicant. A good quality mortgage sourcing software makes use of advanced technology to facilitate this process. Here are some aspects of the program that help a...

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Tips for Refinancing a Mobile Home Mortgage

The process of acquiring mortgages and refinances for mobile or manufactured homes have become easier than before. Lenders were formerly unwilling to extend financing for this category of housing as they felt the value of the homes would decline rapidly due to a lack of permanent foundation. However, most...

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Pros and Cons of First Time Homebuyer Loans

Lenders make use of several programs initiated by the federal government to present loans catering to first time homebuyers. A first time homebuyer is an individual not listed on a deed as the proprietor of a real estate property. The loans aim to ease the path of homeownership for...

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How to Acquire Compensation for a Defective Mortgage

Taking out a mortgage is one of the most crucial decisions made by an individual. Most borrowers rely on mortgage brokers and loan specialists for the transaction. Unfortunately, some of these professionals may take advantage of a client’s inexperience and make available a substandard product that makes the mortgage...

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How to Manage Mortgage Payments to Avert Financial Crisis

A financially stable homeowner may face no difficulty in managing the monthly mortgage reimbursements. However, it is crucial to ensure the regular payment of mortgage dues in the event of a possible monetary crisis. An unexpected illness or redundancy may bring about a significant fall in your income to...

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Frequently Asked Questions on Overpayment of Mortgage

Overpayment of mortgage is a sensible idea to reduce your loan balance. You may pay off your largest debt in less time and shell out less money in interest expenses. However, there are several issues to take care of before deciding to make an overpayment. Here are some answers...

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Essential Features of a Let to Buy Mortgage

A homeowner may take out a let to buy mortgage to buy a new property. The borrower moves into the new home and lets out the old property to tenants. The mortgage product is ideal for an individual who needs to move to a new home but does not...

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Tips for Getting Mortgage Insurance

When you take out a mortgage to buy a home, you will have to pay back the loan over a set period. You may find it difficult to meet the scheduled repayments, if there is a decline in your financial circumstances at any time during the mortgage term. A...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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