Refinancing Home Mortgage Loan » banks

Wrong Popularity of Fixed Mortgage Rates

Bob W. Flaxton — Sat, 10 Oct 2009 20:28:27 +0000

When interest rates go down, it encourage house buyers to choose fixed rate mortgages. If you read previous articles about fixed or varying rate mortgage loan, you already know that varying rates remains a winning strategy for the foreseeable future.

Moreover, according to economists, varying rate will be the best option [...]

Why Weekly Mortgage Repayment is Better?

Bob W. Flaxton — Fri, 09 Oct 2009 01:17:49 +0000

In the previous articles, we saw that weekly mortgage repayment could save you more money than if you pay every month. Why? The explanation is simple and doesn’t change anything in the amount you have to pay.

Given that there is less time between each payment (every week instead of every month), a portion of [...]

Is it Good to get an Open Home Mortgage Loan?

Bob W. Flaxton — Tue, 06 Oct 2009 22:29:40 +0000

In the previous article, we explain how works open home mortgages in relation with closed ones. We also discussed interest rates of that kind of mortgages. In this article, we will see examples to illustrate the difference.

1. Imagine you decide to take an open home mortgage of $100,000 and you think you will be [...]

Open home mortgage: A good strategy for one year

Bob W. Flaxton — Tue, 06 Oct 2009 20:40:48 +0000

The only home mortgage that is repayable at any time without penalty is the open mortgage. And most of these have variable interest rates.

Of course, some open mortgage have a fixed interest rate for 5 years, but this rate is very much higher. So, it might be not useful for you to get fixed [...]

Analyze your house offer

Bob W. Flaxton — Tue, 22 Sep 2009 18:50:06 +0000

That’s it! You pre-approved your home mortgage loan, you shop and found the house of your dreams. It is time to make an offer. Here follow different important parameters to consider when you make an offer.

The deposit: The deposit shows your strong intention to purchase the house and will be deducted from the purchase [...]

Home Purchasing Process and Mortgage Loan

Bob W. Flaxton — Tue, 22 Sep 2009 15:56:59 +0000

We prepared this guide in order to present you useful information about the purchasing process that you follow during your search for the ideal home. In this article, we will talk more thoroughly about home mortgage loan.

When you shop for a new house, it is useful to get a pre-approved mortgage . By being [...]

Housing Market and Mortgage Loan

Bob W. Flaxton — Tue, 22 Sep 2009 15:29:54 +0000

When you want to buy a house and get a home mortgage loan, you also have to consider housing market that often changes. You are better to understand the influence of those market conditions in your situation of buyer.

Keep reading this website and read some other good information source about housing market to understand [...]

Home Mortgage Brokers Work for Customers or Lenders?

Bob W. Flaxton — Tue, 22 Sep 2009 01:04:14 +0000

When it is time to negotiate your home mortgage loan, two kinds of people have opposite need: the borrower (you) and the bank… As you want to pay as less interest as possible, banks wants to make profit lending you a home mortgage loan.

The mortgage broker plays a special role in this relationship. He [...]

Which one to pay first: Home Mortgage or RRSP?

Bob W. Flaxton — Tue, 22 Sep 2009 00:07:42 +0000

To choose between home mortgage repayment or RRSP contribution is not always obvious… Unless you have debt problems, you must choice first to contribute to your RRSP.

Then, you should choose to reduce your debts. But you may consider the choice to repay your home and other debt or to contribute to your RRSP in [...]

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 [...]

Finance your new sport car

Bob W. Flaxton — Fri, 18 Sep 2009 19:07:20 +0000

If you shop for your new sport car, there is a tendency that you will finance car with the car dealer itself. Indeed, sales agents in showrooms can offer you several deals and you probably choose such loans without shopping.

Not a lot of people can purchase their new sport car without the help of [...]

Personal parameters to follow for good mortgage rates

Bob W. Flaxton — Sun, 23 Aug 2009 18:07:00 +0000

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. [...]

How to beat the best mortgage rates?

Bob W. Flaxton — Sun, 23 Aug 2009 02:40:08 +0000

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 [...]

How to get good home mortgage rates?

Bob W. Flaxton — Fri, 21 Aug 2009 01:09:56 +0000

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 [...]

What is a Home Mortgage?

Bob W. Flaxton — Thu, 20 Aug 2009 03:06:23 +0000

Before to get a mortgage, you are better to know what it is! It is a legal term which is the official pledge of a real property by the holder (yourself) to obtain financial facilities from his creditor.

In simplest terms, it means that you guarantee to the bank to resale the house you have [...]

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 [...]