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When you want to get a good mortgage strategy, we see in the previous post that there are three different possible scenarios. In this post, we will see the two rules of interest rates cycles and other interesting information! The first economic rule of interest rates: Interest rates follow inflation. When [...] In the previous post, we saw interesting personal parameters to follow in order to get the lowest home mortgage rates. Here are other parameters, more external to you, to consider when you buy your home. The term of home mortgage Term will also determine your accessibility to the best available interest rate. A short-term mortgage loan [...] In the previous post, we saw some interesting personal parameters to follow in order to get the lowest home mortgage rates. Here are more parameters to consider when you buy your home. Higher is the amount of your financial contribution when you buy your home, more credible will appear your credit file during banks’ analysis. [...] To get the best home mortgage rates, banks have to consider general characteristics of ideal borrower. To determine the financial condition of credit you will be able to get, banks will required to assess your risk level. If your risk assessment is low, banks will be more willing to offer you their best interest rates. [...] In the previous post, we saw that something is more important than the best interest rates! Here are two more facts to help you save money! Second fact: Find other ways that help you save you money. For example, flexible mortgage interest rates could be less expensive than fixed ones. In 2001, Dr. Milevska from [...] Would you want to learn something to save more than getting the best interest rates? Almost everyone wants to know where to get the best rates. But there is something more important! Here are three important facts to know how you can beat this strategy. First fact: Understand the impact of better interest rates on [...] An important question to consider is under what circumstances it is beneficial to apply for mortgage refinancing. Here are some options to consider before to go. First of all, if the interest rate of the market has dropped two points below your current rate, you could seriously consider refinancing your home. If you see your [...] Here are some questions you could ask yourself when you think about a refinancing your mortgage in order to avoid penalties. 1. What are we talking about when we talk about interest rate differential in mortgage refinancing? If we take as example the agreement with a major American bank, the interest rate differential is the difference [...] If you are looking to refinance your mortgage, the calculation of prepayment penalty is crucial. Why? Because the fee may be high, so high that it could cancel the savings. Even if they often deny it, banks blurred the calculation of the penalty they impose in the early repayment of the loan, a very important [...] Figures and studies often show that many consumers do not check interest rates and accept it without negotiating the terms their bank offers. Banks are aware of this situation and, hoping to get more revenue, hide the facts that they offer higher mortgage rates instead of the lowest one they can offer. Banks’ policy and [...] |
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Refinancing Home Mortgage Loan - 2012 |
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