Are Mortgages Compound Interest?

Are Mortgages Compound Interest?

The interest involved in a mortgage is calculated based on the mortgage’s amount as a percentage. If you have an adjustable-rate mortgage, the interest you would pay can either increase or decrease based on market indexes. Meanwhile, if it’s a fixed-rate mortgage, the...
All About Mortgages: What is a Jumbo Loan?

All About Mortgages: What is a Jumbo Loan?

When you are purchasing expensive real estate property, e.g. an apartment, you may find that the number of funds to be borrowed will exceed the limit for a conforming loan which is 484,350 dollars (in most countries). This is when you have to think of a Jumbo loan. A...
All About Mortgages: What is Mortgage Interest?

All About Mortgages: What is Mortgage Interest?

Mortgage interest is the reimbursement a borrower pays to his lender for the money used to purchase a property. This is the percentage that is charged on a mortgage loan that has to be paid in addition to the principal amount. Your mortgage interest rate indicates the...
All About Mortgages: What Does an Underwriter Do?

All About Mortgages: What Does an Underwriter Do?

We usually hear about underwriting as a profession when we talk about insurance. But underwriters are not just found in the insurance industry. They also engage in mortgage and financing services. In this article, we will tackle in-depth discussions about what does an...
All About Mortgages: What are Debt Ratios?

All About Mortgages: What are Debt Ratios?

Lenders want to reduce risk as much as possible. One of the methods they use to demonstrate that an applicant is good to lend to is through the debt ratio formula. In this article we will cover the following topics: What is the debt ratio? Why Debt Ratio Matters? What...
FinanceMortgages