Monthly Archives: October 2009

Is it better to be married when applying for a mortgage?

Posted on October 23, 2009 by admin

Val asked: My fiance and I are getting married in September but we have already been preapproved for a mortgage and have started searching for a home. However, we found out we weren’t eligible for a specific program (I live … Continue reading →

Posted in Renting & Real Estate | Tagged , , , , , , , , | 12 Comments

Should I refinance my ARM into a fixed loan even if it means a higher rate/payment?

Posted on October 16, 2009 by admin

great_and_mighty_adam_levine asked: I have an interest-only ARM that I am currently paying 3.875% on, and indexes in August 2010. On 8/2010, I need to pay principal and interest payments of 1 year LIBOR + 2.25%. At the current time, LIBOR … Continue reading →

Posted in Personal Finance | Tagged , , , , , , , , , , , , , , | 2 Comments

is being lock-in to a closing date means I’m already approved for a housing loan?

Posted on October 8, 2009 by admin

benjie k asked: the mortage company ask for a lock-in payment for closing ($55) and $350 (i forgot what it is for), but i still pay. the mortage ask for our credit report, paystub, income and many other documents and … Continue reading →

Posted in Renting & Real Estate | Tagged , , , , | 3 Comments

Mortgage Lending-A Few Facts To Start Down The Path To Home Ownership

Posted on October 1, 2009 by admin

Albert Alexander asked: From a loan standpoint there are, in general, three types of loans, a fixed rate mortgage, an adjustable rate mortgage (ARM) or an interest-only loan. With an interest only loan, you are just paying the interest piece … Continue reading →

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