Refinancing Home Mortgage Loan » Buying a Home

How Down Payment is related to Home Mortgage Loan

Bob W. Flaxton — Fri, 25 Sep 2009 21:31:18 +0000

In this article, we will talk about the best way to buy a new house and manage your down payment in order to pay less on your home mortgage loan and mortgage insurance.

First thing to remember: the higher your down payment will be and the lower your home will cost [...]

Mortgage Insurance and Down Payment

Bob W. Flaxton — Fri, 25 Sep 2009 19:39:39 +0000

As we talked about in the previous article, depending on your down payment, you could have to take an insurance. How much will you pay for this protection if your down payment is too low? It is simple to calculate.

Greater is the difference between your home mortgage loan and the price of your new [...]

The down payment on your home mortgage loan

Bob W. Flaxton — Fri, 25 Sep 2009 01:40:29 +0000

Home mortgage loan is probably a topic that affects many of us. After all, buying a home is complex and important and it is logical that it arouses emotions!

Few years ago, you had to have 25% down payment to qualify for a conventional home mortgage loan.

Then, federal government decided to encourage purchase of houses [...]

Home Mortgage Loan: Beware of Additional Costs

Bob W. Flaxton — Thu, 24 Sep 2009 21:46:50 +0000

Besides your home mortgage loan, several costs are to be expected when you want to buy a house. It is the reason why prospective homeowners who are about to buy their first home should not forget fees associated with a new house.

Before to start looking for the perfect house, you should first take into [...]

Costs to Pay in Addition to Home Mortgage Loan

Bob W. Flaxton — Thu, 24 Sep 2009 16:18:23 +0000

The purchase of a home is usually the largest expense you will make in your life and your home mortgage loan will be your biggest debt.

Even if you spent the time you need to calculate how much it will cost to pay off your house, many other expenses are related to the purchase of [...]

Credit History and Rating for Home Mortgage Loan

Bob W. Flaxton — Mon, 21 Sep 2009 23:26:13 +0000

If you ask a lender about the ability of people to repay their home mortgage loan, he could tell you that, before to loan $200,000 to a person, he want to know if that person could pay a debt as low as $2000…

This show the importance of your credit history when you want to [...]

Calculate your Mortgage Repayment Ability

Bob W. Flaxton — Mon, 21 Sep 2009 22:48:54 +0000

That’s it! You decide to buy a house! So, you have to consider that a home mortgage loan is a commitment to pay your house’s value over a long term. The most important question you have to ask: Do I will be able to make such payments?

When you will ask your bank to get [...]

When is it the good time to buy a house?

Bob W. Flaxton — Sun, 13 Sep 2009 17:01:31 +0000

When you buy a house, banks will consider several factors in order to borrow you a home mortgage. Let’s take a good scenario: you have no debt…

In this ideal case, to know how much money bank will give you for your home mortgage loan, take your gross monthly income and multiply it by 33%. [...]

Can you Afford Home Mortgage Loan?

Bob W. Flaxton — Sat, 12 Sep 2009 18:52:37 +0000

Look at the previous article to see what calculation yourself and your bank could use to see if you can afford to pay your home mortgage loan. Here is some more information!

Can you afford a home mortgage loan? Calculate your debt ratio!

If your think to purchase a house, you must know there debt [...]

How Much to Pay for Mortgage Loan?

Bob W. Flaxton — Sat, 12 Sep 2009 18:18:22 +0000

As we saw in the previous article with Mr. Cohen, a home mortgage loan can be a nightmare if you cannot afford it. Of course, the situation of Mr. Cohen is extreme and the bank that granted his home mortgage loan is also responsible of the situation.

Mr. Cohen took too many risks… He has [...]

Home Mortgage Loan: How much can you pay?

Bob W. Flaxton — Sat, 12 Sep 2009 17:50:22 +0000

Is a home mortgage too expensive for you? Actually, several readers of this site think about buying a home. But have studied the issue actively?

Purchasing a home is one of your most important financial in your life. Paying your home mortgage loan should not be a burden, but should instead contribute to your quality [...]

Mortgage and Refinancing Home: Time to Buy?

Bob W. Flaxton — Thu, 10 Sep 2009 15:55:18 +0000

Even if rates are very attractive, bad economic news and the recession hold back buyers to get their first home… Even if the economy is not in best health, interest rates of some banks, it could be time to get your first mortgage or refinancing home.

For few times, the phone rings a lot in [...]

John’s story to buy a house

Bob W. Flaxton — Tue, 01 Sep 2009 01:19:46 +0000

This is the last post about John’s story when we bought a house and get a home mortgage (as this is the basic topic of this blog).

Before moving, we wanted to make some minor changes in our home. Most rooms were painted green, which did not match our color taste. So, we repaint the [...]

How to get a house and a mortgage?

Bob W. Flaxton — Mon, 31 Aug 2009 23:01:56 +0000

In this post, there are other details about what John had to pay when he bought his house and get a home mortgage. Let him continue…

When we bought our house, we had to pay some different fees. Here are details. We had to honor the famous “welcome tax”, payable after the visit to the [...]

How much is it to buy a house?

Bob W. Flaxton — Mon, 31 Aug 2009 15:01:33 +0000

The subject of this post is the story of John, when he bought his new house. The story will be told as if John were talking.

When we bought our first home, I must admit I didn’t know what to do… We were careless, my wife was pregnant of our little girl, and I was [...]

The best home mortgage rate: bank or mortgage dealer?

Bob W. Flaxton — Thu, 20 Aug 2009 17:12:05 +0000

The title of this article may be a very good question! You might think that banks with whom you do business for several years will give you the best interest rates? Maybe… Maybe not.

A good example: Someone getting a mortgage

To better understand, let’s take an example. A customer who wants to buy a [...]

Before to Buy a New Home (and get a Mortgage )

Bob W. Flaxton — Thu, 20 Aug 2009 02:32:35 +0000

You must visit one or at least two times and check some important things before thinking to buy a new home and having a mortgage. What is the price and annual charges that come with the house (heating, taxes …)? When will you be able to move (date of occupation)?

When you visit, look at [...]

First mortgage and important questions to ask before buying a home

Bob W. Flaxton — Sun, 16 Aug 2009 20:33:02 +0000

Time has come for you to buy a house? Well, this is a major decision and you must first ask some good questions.

What do you want?

Why should you move and where will you move? In rural, suburb or big city? In a quiet or lively environment? What type of house would you want [...]