Mortgage Articles

Getting a Mortgage When Self-Employed

By:
Kirk Haverkamp - MortgageLoan.com | 11/07/2009 - 9:46pm

Getting or refinancing a mortgage when you’re self-employed can be a real challenge these days. With the virtual disappearance of stated income loans, it’s become much more difficult for anyone who doesn’t get a regular paycheck to qualify for a home loan. But it still can be done.

What If the Lender Rejects the House You've Chosen?

By:
Kirk Haverkamp - MortgageLoan.com | 11/05/2009 - 6:03pm

So you’ve found the house of your dreams. The price is right, the buyer accepts your offer and your lender has already prequalified you for a mortgage of that size. So you submit your paperwork, the lender takes it under consideration and then after a few weeks – rejects the sale.

Rates, Home Prices Make 15-Year Mortgage More Attractive

By:
Kirk Haverkamp - MortgageLoan.com | 10/29/2009 - 1:18am

Consider this: right now, you can purchase a home with a 15-year mortgage and end up with a monthly payment that is far less than you would have paid for the same property under a 30-year loan only three years ago. Sound interesting? Read on.

Should You Use a Mortgage Broker?

By:
Kirk Haverkamp - MortgageLoan.com | 10/23/2009 - 12:42am

One of the questions that pops up when buying a home or refinancing a mortgage is should you use a mortgage broker? A broker can help you find a good deal on home loan and simplify the process of shopping for a mortgage, but often at a higher cost than if you'd obtained the loan yourself. So what to do?

Planning for Maintenance Costs When Buying a Home

By:
Kirk Haverkamp - MortgageLoan.com | 10/19/2009 - 12:35am

How much will you need to spend on home maintenance? It's a crucial thing to know when figuring out what you can afford when taking out a mortgage to buy a house, but one that many potential homeowners pay shockingly little attention to.

Unemployment Insurance Can Cover Your Mortgage Payments

By:
Kirk Haverkamp - MortgageLoan.com | 10/14/2009 - 12:38am

Thinking about buying a home but nervous about doing so in today's economy? Do you already own a home and are worried about what would happen if you lose your job? You may want to consider unemployment mortgage insurance.

Freddie Mac Closing Cost Assistance Ending

By:
Kirk Haverkamp - MortgageLoan.com | 10/12/2009 - 12:48am

Time is rapidly running out on one of the best deals going for homebuyers. No, not the $8,000 first-time homebuyer tax credit - although that's due to expire Nov. 30. A more urgent deadline is the closing cost assistance offered under Freddie Mac's HomeSteps SmartBuy program, which expires at the end of this month.

Should You Pay Discount Points on Your Mortgage?

By:
Kirk Haverkamp - MortgageLoan.com | 10/09/2009 - 12:36am

Mortgage interest rates are unusually low right now, close to all-time lows for a 30-year fixed rate loan. So with rates already so low, is it worth paying points to try to get the rate even lower?

Mortgage Pitfalls to Avoid When Buying or Refinancing

By:
Kirk Haverkamp - MortgageLoan.com | 10/07/2009 - 12:13am

Mortgage rates are low, low, low right now - close to all-time minimums. But those low rates can still cost you an awful lot of money if you're not careful to avoid some of the serious mistakes people make on home loans when buying a home or refinancing.

Obtaining A Joint Mortgage or Shared Home Ownership

By:
Kirk Haverkamp - MortgageLoan.com | 10/02/2009 - 12:06am

If you're thinking about buying a home, chances are you're not planning to do it by yourself.So how do you go about getting a mortgage or buying a home by two or more people? There are two main ways to do it - either through a joint mortgage or by joint ownership

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