A fixed rate mortgage guarantees a specific interest rate over a period of time. Many people choose fixed rate mortgages and the most popular plans are 3, 4 and 5 years. However, if you wish you can have a fixed rate mortgage for as long as 10 years or as…
Did you know that the average homeowner only files a home insurance claim once every eight to 10 years? This means that while it’s very important to have home insurance, many people are overpaying by having high monthly premiums. This is frequently because when they got their home insurance online…
Assumable mortgage is a mortgage that can be passed on from one owner to another. For example, if you put in an offer for a property and the real estate agent states that there is a mortgage on the house that is assumable, it means that the mortgage can be…
An interest only mortgage is much like a line of credit. It means that you can pay only the interest on the mortgage. This type of mortgage will be greatly useful in order to significantly lower the amount paid monthly. However it also means that the debt will never be…
As opposed to a fixed rate mortgage where all the payments are the same over the mortgage lifetime, adjustable rate mortgage means your payments will vary over time. The mortgage payments will fluctuate according to the interest rates. When the interest rate is adjusted your mortgage payments will be adjusted…
Getting a low interest rate mortgage rate is the dream of every home buyer. However, while you try to negotiate a good rate with your lender, it may be a better idea to get in touch with a mortgage broker who will have more contacts and more influence with the…
Mortgage generally refers to a loan that is obtained in order to purchase real estate property. Since many of us will not be able to pay cash for a home, it is important to learn the fundamentals of a mortgage. Here are the basics: Interest Rate – Once you find…
Buying a home or a property is a long process and winning the financial battle is just another milestone in the process. Following are a few steps that you need to follow to make sure you get the best possible deal. Utilities – The attorney will need to send letters…
The current property market is a buyers market, and you can easily find great homes that were not affordable before. But, what about the down payment? You can now buy a home by just putting 1% down. If you want to buy a home in Virginia and are a first…
Real estate investment deals can often be confusing, especially to someone who is new to the game. Property prices vary according to locale, rate of development and proximity to amenities. Therefore here are seven types of investment land. 1. Land for sale in huge cities is a great investment opportunity,…