Adjustable vs. Fixed Rate Mortgage Making the right choice between a fixed and an adjustable rate mortgage depends on numerous factors, including your actual financial situation, the purpose you want to use the loan for and several other important factors as well. In what follows, we would like to explain how the two types of mortgages work so … [Read more...]
Archives for March 2014
How Mortgage Interest Rates Are Determined
When you take out a mortgage, the bank as the lender takes a risk. The risks assumed by the lender are expressed in the form of interest rates, and the costs you must pay for obtaining the loan. The calculation of your mortgage interest rate depends on the amount of risk taken by your lender. The interest rate determined for your mortgage is the … [Read more...]
Do You Qualify for a VA Loan?
Veteran affairs mortgages also known as VA loans are becoming increasingly popular as the conditions for obtaining conventional bank loans from banks are becoming stricter and stricter. This immense popularity of VA loans is due to numerous factors. Most of all, the no-down-payment character of these loans makes the loans more affordable than … [Read more...]