Welcome to Mortgage Guide
Loan Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Fun with Mortgage Calculators
from:Dreaming of buying a home now that the prices have dropped? Why not have a little fun with some online mortgage calculators? They help you to dream in a realistic way by giving you the hard facts about the numbers involved in your home mortgage dreams. There are a number of online mortgage calculators that can help you look at a fixed rate or a variable rate mortgage option.
Fixed Rate Mortgage Calculators
These are the simplest forms of mortgages to calculate. They come with a fixed interest payment that is for the life of the loan. You can estimated the interest payment very closely to what the present rates are on mortgage loans. You can add in the down payment that you are choosing to make to get the loan (which will have to be between 10 and 20% to qualify these days). The mortgage calculators will also ask for the term of the loan. Fifteen and 30-year loans are pretty common mortgage products, but you can now get one for 40 years too. The mortgage calculators will crunch the numbers and give you an amortized table of your payments. If you are not asked for an estimate of hazard insurance or property tax escrow payments, then the value you see might be smaller than the value you get at closing. If you want a closer estimate, be sure to find out what you hazard insurance and escrow payments might be for the house you are considering buying.
Adjustable Rate Mortgage Calculators
Years ago these mortgage calculators weren’t very common. Now, even people who are just looking to see how much more their payments will be with an adjustable rate mortgage they bought earlier might like these nice applications. The adjustable rate mortgage calculators add in additional information that can help you see how much a mortgage changes with an adjustment of the interest rate after the initial period is over. Keep in mind that the number of adjustable rate mortgage products are numerous and they all have their little intricacies. You may be able to get a reasonable picture of what happens when your mortgage rate adjusts, but it might not be suitable for the particular mortgage you choose. It might only work for one adjustment, whereas ARMs can adjust yearly at times. Always look at the good faith estimate to understand more about what your actual costs are for an adjustable rate mortgage and take a close look at the amortization table to see how your payments adjust over the years.
Loan Mortgage Specific links
Loan Mortgage News
US 30-year mortgage rate falls to record 3.78 pct. - BusinessWeek
 Bloomberg | US 30-year mortgage rate falls to record 3.78 pct. BusinessWeek Cheap mortgages have helped boost home sales modestly this year. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dipped to 3.78 percent. That's down from 3.79 percent last week and the lowest since long-term mortgages began ... Freddie Mac: 30-year mortgage rate down a tick at 3.78% 30-year mortgage rate hits another record low Mortgage rates move lower |
Supreme Court says families cannot sue mortgage company over loan discount fee - Washington Post
 Bakersfield Now | Supreme Court says families cannot sue mortgage company over loan discount fee Washington Post WASHINGTON — The Supreme Court ruled unanimously Thursday that three families cannot sue a mortgage company for allegedly charging them a loan discount fee without giving them a lower interest rate. The high court's decision tosses out lawsuits filed ... Mortgage Closing Overcharge Suits Curbed by High Court Supreme Court rules families cannot sue over loan discount fee |
USDA Is a Tough Collector When Mortgages Go Bad - Wall Street Journal
 Wall Street Journal | USDA Is a Tough Collector When Mortgages Go Bad Wall Street Journal It is the US Department of Agriculture's Rural Housing Service, which provides mortgage loans to rural homeowners and guarantees loans made by banks. It accounted for at least a third of all mortgages issued in 2010 in sparsely populated areas such as ... Not a farmer? You can still get 100 percent USDA financing React & Act: What is second-mortgage debt? |
Mortgage comparison-shopping: How to read good faith estimate - Community Voice
 e-wisdom.com | Mortgage comparison-shopping: How to read good faith estimate Community Voice By Scott Sheldon May 24, 2012 12:51 pm Taking out a mortgage loan requires careful consideration of all the costs associated with a purchase or refinance transaction. For many, who do their due diligence of mortgage comparison shopping, reading, ... Mortgage rates drop to new record lows, mortgage activity jumps Bankrate: Mortgage Rates Hold at Record Lows Mortgage Rates: Low Mortgage Rates Attracting Borrowers to Mortgage Refinances |
Guilty pleas in mortgage loan scam expected to bring prison time, big fines ... - The Jersey Journal - NJ.com
 The Jersey Journal - NJ.com | Guilty pleas in mortgage loan scam expected to bring prison time, big fines ... The Jersey Journal - NJ.com By Matthew McNab/The Jersey Journal Five people, including two Hudson County residents, have pleaded guilty to their roles in a mortgage loan scam that was led by a Kearny woman, state Attorney General Jeffrey S. Chiesa announced Monday. |