Refinancing Home Mortgage Loan » Home buying

How Cut Drastically the Amortization Term of your Home Mortgage?

Bob W. Flaxton — Tue, 06 Oct 2009 00:06:53 +0000

The secrets we are about to reveal you in the article could literally change your financial life in making you save thousands of dollars! Is it possible to shorten the amortization term of a 35-years home mortgage loan at 20 or even 10 or 15 years, often without paying more every [...]

The best term for your home mortgage

Bob W. Flaxton — Mon, 05 Oct 2009 22:13:52 +0000

Today, when you borrow a home mortgage loan, there is flexibility in the amortization periods that are available. Some banks have even created customized strategies.

Some banks let you repay on a longer term than 25, say, 30 and even 35 years.

But don’t forget, longer is the term of your home mortgage, higher is [...]

Down Payment: a Home Mortgage problem?

Bob W. Flaxton — Fri, 25 Sep 2009 21:55:08 +0000

As we saw in the previous article, there are several ways to save enough money to get a good amount to pay on your home mortgage loan as down payment. Here is an example to save $35,000 for your down payment.

OK. You decided to set aside $35,000 for your down payment, and you allow 5 [...]

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 [...]

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 [...]

Calculate your Home Mortgage Repayment

Bob W. Flaxton — Wed, 23 Sep 2009 22:11:34 +0000

What do you have to do when you are about to purchase your new house with your home mortgage loan? Here follow several points to consider in order to get a smooth agreement with your seller and the bank that lend home mortgage loan.

The cash down payment must cover ideally 10% of the total [...]

More Advices about Home Mortgage Loan

Bob W. Flaxton — Wed, 23 Sep 2009 20:23:37 +0000

Here follow other advices for people who will buy a new house and get a home mortgage loan.

1. If you are a tenant, give the landlord a written notice that you quit and ask him to repay any deposit you paid in the past.

2. At your new house, be sure gas and electricity, [...]

Advices about Home Mortgage Loan

Bob W. Flaxton — Wed, 23 Sep 2009 15:30:29 +0000

In order to help you when you buy a house and get a home mortgage loan, here is a list of advices to could be useful for you.

Make a complete house inspection before to buy a home

The inspection of your new home by a qualified inspector will help you to confirm you have [...]

Make an offer for Home Mortgage

Bob W. Flaxton — Wed, 23 Sep 2009 15:08:47 +0000

When time comes to make an offer the house of your dreams, your real estate agent can give you information about the current housing market.

The real estate agent could also help you prepare your offer and communicate it to the seller. Sometimes, the house seller receives more than one offer at the same time. [...]

Home Mortgage Loan you can Afford

Bob W. Flaxton — Tue, 22 Sep 2009 14:50:14 +0000

How Much can you Afford to Pay for your Home Mortgage Loan?

When you are looking to buy a house, you have to identify first the amount you will be able to pay in addition to monthly expenses.

The higher amount you will have to pay on your home is the down payment, which represent [...]

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%. [...]

Choose the Right Mortgage Consultant

Bob W. Flaxton — Fri, 11 Sep 2009 00:57:30 +0000

As we saw in a previous article, there are three types of home mortgage consultants. So, is it better to work with a broker, a mortgage seller or employees of banks?

There are excellent employees in banks, excellent sellers and excellent brokers. But one thing is sure: the expertise and integrity is really important.

Is [...]

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 [...]

Mortgage Rates: How to know them?

Bob W. Flaxton — Fri, 04 Sep 2009 15:22:54 +0000

A great number of investors, banks and government included, would be happy to accurately predict the direction of mortgage rates!

Even if we know all the relevant data about rates, we will not be able to accurately predict whether rates will fall by ½% or ¼%, or if they grow up next week or next [...]

How much should you take for your home mortgage?

Bob W. Flaxton — Mon, 31 Aug 2009 15:28:42 +0000

Here are details on fees and expenses we have been presented. The house was for sale at $280,000 and owners sought buyers for months. Once we visited the house few times, we made an official offer of $260,000 (we had the home mortgage pre-approval).

We left our broker manage everything. Bank hired an expert to [...]

Assess price and mortgage for your house

Bob W. Flaxton — Mon, 31 Aug 2009 15:25:44 +0000

After I get my home mortgage pre-approval from the bank, our realtor helped us to visit homes that matched what we wanted.

Our needs? A price not exceeding $300,000 in three specific neighborhoods of our city, with three bedrooms or more and a double garage. The rest was simply considered as a bonus.

As this [...]

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 [...]