Category: Mortgages

What is An Amortization Schedule?

We wanted to use this article to address the amortization schedule for people who are unaware what it is but before we do, it would be important to explain briefly amortization.  Simply put, amortization is a process in which a loan is paid off using structured and periodic payments designed specifically for this purpose.  Keep in mind that amortized loans are not the same as other loans in that the way in which the amount of the loan and the structure of the loan payments are unique.

Myths Associated with First Time Homebuyers

Today’s real estate market is ideal for first time homebuyers.  In addition to a huge inventory of available properties, the cost of homes is way down and interest rates have not been this low in a long time.  Because of the current situation, a person could find a home that would normally appraise for $200,000 and be able to purchase it for $160,000.  However, along with all the positive aspects of first time home buying some challenges also exist.  For instance, although interest rates are way down, lenders have put tighter restrictions on who can be approved for

How Much Will I be Able to Borrow for a Mortgage?

The purchase of a home is something to get excited about! However before you start looking at home you should take the time to find out how much you will be able to borrow for a mortgage. You should ask yourself the question- how much can I afford to borrow?

The Best Mortgage Rates in Canada

If you want to find the best mortgage rates in Canada then you need to keep your wits about you as you check for the rates at local banks in your city or town as well as when you check over the Internet.

Will a Short Sale of Your Home Work for You?

A short sale is something that you may consider if you are finding that making your mortgage payments is next to impossible. The goal of such a sale is to prevent homeowners from having their homes go into foreclosure.

The Fundamentals of Refinancing Your Mortgage

Using Mortgage Payment Calculators

Where to Find Current Mortgage Rates?

If you want to know where to find current mortgage rates then the most logical place to start is with the financial institution you bank with. Most banks branches will post the rates in their windows or in a sign somewhere in the bank.

Or if you do not have the time to visit your branch visit the website of your bank to find out more information. Current mortgage rates are generally displayed prominently online at the sites of most financial institutions.

Should You Walk Away From Your Mortgage?

Times are tough. When you took out a mortgage to purchase a home you might have been in a strong and stable financial position. However any number of unfortunate circumstances can lead to money problems and can make it difficult to make your monthly mortgage payments.

The Mortgage Crisis, Buy Sell or Rent?

With the mortgage crisis the way it is people are selling their homes at an alarming rate. The sub-prime mortgage crisis has taught us all a thing or two. Figure out how much you can afford to spend on a home and spend no more than that. Do not buy a $400,000 house when realistically speaking you can only afford a $200,000 house.