Mortgage Articles

Want to get your personal finances in order but you're not sure how?
Here at Mortgage Loan, we have a few tips!
Mortgages: Understanding Income Declaration
Mortgage

Mortgages: Understanding Income Declaration

When applying for a mortgage, you can choose to declare your income using a full income verification loan, or opt for a loan in which the lender doesn't verify how much you earn. Do you know what the differences are?

Kirk Haverkamp
13 years ago
Are Multiple Inquiries Killing Your Credit?
Mortgage

Are Multiple Inquiries Killing Your Credit?

A common fear is that multiple inquiries on your credit report will lower your score. That's partially true, based on who's doing the inquiring. If you're shopping for a car or home loan, inquiries won't lower your score. But if a landlord or credit card company takes a peek at your credit report, it's a different story.

Kirk Haverkamp
13 years ago
Foreclosure Prevention Act to Help with Refinancing
Mortgage

Foreclosure Prevention Act to Help with Refinancing

To help distressed homeowners avoid foreclosure, Democratic senators have proposed the "Foreclosure Prevention Act of 2008." The bill would help borrowers by potentially lowering the amounts they owe, and would free up more money to pay for the mortgage refinance of subprimes.

Dan Rafter
13 years ago
Escape the Reset Crisis with a Refinance
Mortgage

Escape the Reset Crisis with a Refinance

Pay attention to the details if you have an adjustable-rate mortgage (ARM). Many three-year ARMs are scheduled to reset during the next 18 months, and many homeowners aren't prepared for the drastic payment increase.

Kirk Haverkamp
13 years ago
Is Escrow Right for Your Refinance?
Mortgage

Is Escrow Right for Your Refinance?

When refinancing a home loan, one of the many decisions that you'll have to make is whether or not to escrow your homeowner's insurance and property taxes. Some say yes, others no. Which option is right for you?

Aaron Crowe
13 years ago
Fractional Mortgages
Mortgage

Fractional Mortgages

Buyers, developers, and mortgage companies are always looking for creative ways to finance second homes. The "fractional mortgage" has been gaining traction and popularity for more than a decade as an attractive way to buy a vacation property.

Dan Rafter
14 years ago
Five Reasons to Borrow From Credit Unions
Mortgage

Five Reasons to Borrow From Credit Unions

Created to protect people from unscrupulous lenders, credit unions have a long-standing history of loaning money at reasonable rates. But the low rates are just one reason why people turn to credit unions for their lending needs.

Dan Rafter
14 years ago
Is a Cash-out Refinancing Right for You?
Mortgage

Is a Cash-out Refinancing Right for You?

In a cash-out refinancing, you take out a new mortgage for an amount that's larger than your current principal balance. You can then use the extra money as you wish. Just make sure that you compare the costs of this type of financing with the costs of a home equity loan before proceeding.

Kirk Haverkamp
14 years ago