Articles by Subject

The Actual Cost of Getting a Mortgage

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 09/30/2009

What will your mortgage or refinance actually cost you? Many borrowers focus only on the interest rate, because that's the main thing that determines what you're going to pay. Unfortunately, they too often ignore a wide range of other factors that will affect what the overall cost of your mortgage will be.

Myths and Misconceptions About Credit Scores

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 09/28/2009

If you're planning to apply for a mortgage, either to purchase a home or refinance your existing home loan, you're probably concerned about your credit score. While a good credit score is important, a lot of people worry about it needlessly. That's partly because they don't understand how credit scores work - and there's a lot of bad information out there about what does and does not affect your score.

Advice for First-Time Homebuyers

By:
Kirk Haverkamp - MortgageLoan.com | Sat, 09/26/2009

Thinking about buying your first home? There's a lot of good reasons to do so right now - bargain prices, low mortgage interest rates and that $8,000 first-time homebuyer tax credit. But for the first-time homebuyer, it can be intimidating.

Tighter Rules for FHA Streamline Refinance

By:
Kirk Haverkamp - MortgageLoan.com | Thu, 09/24/2009

Thinking about refinancing an FHA loan, using that oh-so-easy FHA Streamline Refinance? Better act fast.

Thinking about refinancing an FHA loan, using that oh-so-easy FHA Streamline Refinance? Better act fast.

As of Jan. 1, the FHA is making some major changes to the highly popular Streamline Refinance and may of them won't be in the borrower's favor. In fact, they'll make qualifying for the loan significantly more difficult.

125 Percent Refinance May Present Challenges

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 09/23/2009

For homeowners who are "underwater" on their mortgages, the 125 percent refinance option offered under the administration's Making Home Affordable Program may seem like a dream come true. But making that dream a reality could turn out to be a challenge.

Investing in a fixer-upper

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 09/21/2009

The current housing market offers some great opportunities for those interested in buying a fixer-upper. The combination of low housing prices and mortgage rates, plus depressed demand for skilled labor and building materials, makes it an attractive time for buying a fixer-upper if you have the time, money and inclination to take one on.

Secondary Mortgage vs.Home Equity Line of Credit

By:
Kirk Haverkamp - MortgageLoan.com | Sat, 09/19/2009

What's the difference between a second mortgage and a home equity line of credit (HELOC)? Both offer ways to tap into, or borrow against, the equity in your home. But there are some significant differences.

10 Mistakes to Avoid When Refinancing a Mortgage

By:
Kirk Haverkamp - MortgageLoan.com | Thu, 09/17/2009

With mortgage interest rates as low as they are right now, homeowners can save a lot of money by refinancing their home loan. But it's not as simple as finding a good interest rate and jumping on it - there's a lot more to it than that.

Should You Tap Your Roth IRA for a Down Payment On a Mortgage?

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 09/16/2009

Coming up with the down payment for a mortgage can be the single biggest obstacle to home ownership for many aspiring homeowners. For some, tapping into their Roth IRA can provide the necessary funds. The question is, do you really want to break that particular piggy bank?

Scouting Out Neighborhoods Before a Home Purchase

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 09/14/2009

So you're found the perfect house. Right price, right size, no looming maintenance problems. But before you take out a mortgage and sign on the dotted line, there's one more thing you need to be sure of: is it in the perfect neighborhood?

What Does It Cost to Refinance A Mortgage?

By:
Kirk Haverkamp - MortgageLoan.com | Fri, 09/11/2009

With interest rates remaining near historic lows, homeowners have been rushing to refinance their mortgages and save money. But a low interest rate is only part of the picture - there's also the question of the fees that must be paid. So what should you expect to pay to refinance your mortgage?

Should You Refinance Your Mortgage as a Debt Consolidation Loan?

By:
Kirk Haverkamp - MortgageLoan.com | Thu, 09/10/2009

Thinking about a debt consolidation loan? For someone with a lot of credit card debt and other obligation, rolling all those bills into one monthly payment can seem like an attractive option, particularly when you can get a lower interest rate in the bargain. But there are downsides

Small Down Payment Boosts Popularity of FHA Mortgage

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 09/09/2009

Wishing you could buy a home but lack the money for a down payment? Or does bad credit prevent you from qualifying for a mortgage in the current tight lending environment? An FHA mortgage could be just the ticket for you.

Cash-Out Refnancing Still an Option for Some

By:
Kirk Haverkamp - MortgageLoan.com | Tue, 09/08/2009

Need money? Got equity in your home? A cash-out refinancing might be the right solution for you - and yes, it's still possible despite the collapse of housing values and credit markets.

Can You Save Money With a Bi-Weekly Mortgage?

By:
Kirk Haverkamp - MortgageLoan.com | Fri, 09/04/2009

A bi-weekly mortgage is often touted as a fairly painless way for a homeowner to pay off their mortgage faster and save tens of thousands of dollars in the process. But is it really such a good idea?

How Much of a Home Mortgage Can You Afford?

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 09/02/2009

It seems that anyone who's still lucky enough to have a job can afford to buy a house these days. Thanks to low mortgage interest rates and housing prices, housing affordability is at an all-time high, according to the National Association of Realtors (NAR). The question is, what is affordable?

Home Prices May Not Always Follow Housing Supply

By:
Kirk Haverkamp - MortgageLoan.com | Tue, 09/01/2009

Buying a home, unlike most purchases Americans make, involves negotiation. And to negotiate successfully, you have to know what's on the market.But prices may not always follow the classic rules of supply and demand.