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...
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...
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...
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...
Mortgage brokers are known to make quite a bit of money when they can satisfy their clients. The best part of this job is that mortgage brokers are independent. This means that they control their time and earnings. If you know a lot about real estate and want to build...
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...
