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Mortgage Center

The "Mortgage Center" contains a series of articles dealing with every aspect of getting a mortgage loan. You can also download a series of mortgage information files for offline perusal or printing.

It is my hope that you will find here all the information you need. For additional details, please feel free to contact me.


Your Mortgage Center

Applying And Negotiating For A Loan
Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage — whether its a home purchase, a refinancing, or a home equity loan—is a product, just like a car, so the price and terms may be negotiable. Youll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.
How To Qualify For A Mortgage

Many a buyer nightmare is not being able to get a home loan. However its not as hard as people think. There are many types of loans and lenders out there and all you need to do is find the right one for you.

To get a mortgage, all you need to know is what the lenders want from you and how to give it to them. Lenders look for two things in a homebuyer: the ability to pay loans and the willingness to do so, in other words your employment history and your credit record.

Mortgage Rates And Types Of Mortgages
Whats in a monthly mortgage payment? The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes, homeowners insurance, and mortgage insurance (if applicable).
Mortgage Insurance
The mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. Its required primarily for borrowers making a down payment of less than 20%.
Qualifying For A Low Down Payment Loan
In attempting to approve home buyers for the type and amount of mortgage they want, lenders basically look at two key factors: the borrowers ability and willingness to repay the loan. Ability to repay the mortgage is verified by your current employment and total income. Generally speaking, lenders prefer for you to have been employed at the same place for at least two years, or at least be in the same line of work for a few years.
Buying A Home With A Low Downpayment

If youre dreaming of buying a home, congratulations. Youre in good company! Almost two-thirds of the nations households own their own home.

This article describes how families can get into their own homes with little cash up front. It explains mortgage insurance and how it works, and looks at the two options -- private mortgage insurance and government mortgage insurance.

Shopping For A Mortgage
Homeownership is becoming a reality for more and more Americans. During 2000, the US homeownership rate reached 67.7%, the highest rate ever. Yet many Americans dont realize that homeownership is within their grasp. They believe that they have no chance to qualify for a mortgage and buy their own home. But in truth, there are so many types of loans, that it is almost impossible not to find one that would accommodate your needs.
Avoid Predatory Loans
Buying or refinancing your home may be one of the most important and complex financial decisions youll ever make. Many lenders, appraisers, and real estate professionals stand ready to help you get a nice home and a great loan. However, you need to understand the home buying process to be a smart consumer. Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud.