Personal Mortgage Loans

Author: mortgageease

""If you are seeking personal mortgage loans, then there are a few pointers that can go a long way in getting you good loan options at good rates. Also a little care and good planning will help you pay off your personal mortgage at much lesser rates. Click here for Personal Mortgage Loans.

Understanding Your Needs While opting for a personal mortgage loan, it will help to first understand your requirements for the loan and then budget the amount you may need. While budgeting, keep in mind the costs of inflation that may come up, the life of the loan, repayment terms, penalties, interest rates and how you can repay your loan faster at much lesser rates.

Comparison Shopping Visit a few stores online and offline to get details on the various benefits, interest rates and services offered. Look for on-time service and expert advice. References from friends and family may go a long way in getting a known lender and good rates.

Interest Rate If you consider your personal mortgage loan carefully, you will notice that the interest comprises of over two thirds of the amount you borrow. This high interest needs to be paid throughout the life of the loan, meaning that you are paying much more than you are borrowing. Thus before taking a personal mortgage loan, consider the interest rate carefully and whether you will be able to bear its brunt through the life of the loan.

Paying Extra Paying extra on your mortgage will help you get it paid off early. For example, one extra payment a year will remove about eight years from a 30-year loan. Thus take a loan where you can afford to pay a little extra to cut down the total amount paid. This will help you repair your debt faster, besides giving you more financial freedom.

Tax Shelter Many opt for personal mortgage loans because it is their last tax shelter. But even if it may seem so, it is not often the case. This is because you end up paying more as interest rates than as tax, which leads to a negative cash flow.

Investments Most people also take such loans so that they can invest to get greater returns. But keep in mind that while paying off mortgages is guaranteed, returns on most investments are not. While this boils down to risk, it is worthwhile to keep in mind that while some investments may pay off others may not.

Whatever purpose you choose to take a personal mortgage loan for, we at Mortgageease.com are here to provide our services and support. Call us toll-free at 888-744-EASE (3273) Monday Through Friday: 9 am to 9 pm (EST).

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About the author: I write articles for www.mortgageease.com .We're a full-service mortgage company that specializes in providing residential loans--for borrowers with all types of credit histories.

Crucial Questions You Must Ask Your Mortgage Broker When Applying For a Loan.

Author: Craig Romero

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When applying for a mortgage, it's important you get answers to the following questions. Be sure and print these questions out and take them with you when meeting with a potential mortgage lender. By taking the time to learn the answers to these questions, you can reduce or eliminate the chances of being taken advantage of. Thus, saving you thousands of dollars.

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1. Will There Be an Additional Charge to Lock-In an Interest Rate and Discount Points?

Since rates fluctuate daily, Most lenders offer a lock-in policy that guarantees your quoted interest rate and points will not change for a specified number of days. Allowing you time to organize your documents and shop other loans before applying with this lender. By paying a one time lock-in fee you may be able to save you thousands if the interest rate rises during the time you are locked in.

2. How Many Points Will Be I Charged?

The answer to this question will vary from lender to lender. A point is calculated as one percent of the loan amount. Points charged are additional to the interest rate that is charged on the loan. A lender often makes his fees by charging points or to negotiate a lower interest rate. Be careful with this because a loan with a low interest.

3. What Will Be The Interest Rate & Annual Percentage Rate for This Mortgage?

The answer to this question will allow you to compare the loan costs of this particular mortgage with other loans you may compare against. Your loan APR is figured by combining the interest rate, points and other fees divided by the loan's term to give an annualized rate. A low interest rate and high points could end up costing you thousands more than one with a higher interest rate but low points.

4. How Long Will it Take to Process My Mortgage?

Processing is the time it takes from the day you submit your application to the time your loan is approved. The time it takes to process a loan will vary for different loan types and among lenders. Normally loans should be funded within 7 to 10 working days, unless there is a problem with your application.

5. Will I Be Charged For Private Mortgage Insurance (PMI)? And If So, Can I Finance the Upfront Premium into the Loan Amount? If you're unable to put a 20% down payment on your new home, you will be charged PMI (an insurance premium to protect the lender in case you default on the loan). If you are charged this, find out if you can add these premiums into your financing.

6. What Are The Total Closing Costs?

Be sure and get this in writing within 3 days of applying for the loan. If they can't provide this within 3 days...the lender has broken the law. When a list of closing fees are provided, be sure you understand each fee. Sometimes lenders will tack on unnecessary fees to boost profit. Lenders charge fees for the services incurred to process and close your mortgage. Also, make sure the closing costs that were presented to you in the beginning match the closing costs presented at closing.

7. Is There a Pre-Payment Penalty?

This is a penalty some lenders apply to your loan if you decide to pay off your loan early. Either by making bi-weekly payments or 1/12 extra payments (see table of contents). This is important, since you will want to pre-pay your loan in order to eliminate costly interest overpayments. Most lenders don't charge a pre-payment penalty, so there is no need to go with a lender who charges this.

8. Rapid Loan Approval

Be sure and ask your lender if they utilize Rapid Loan Approval Software. This computer software allows lenders to determine a borrowers credit risk instantly. Allowing for them to approve a loan within hours or even minutes. Look for a lender who utilizes this software. It will save you valuable time especially when shopping for the best interest rate

Written by Craig Romero

Discover how to quickly build a minimum of $40,000 worth of home equity and pay your mortgage off in 10 years or less without making biweekly mortgage payments. Visit: http://kv.iwarp.com/mc.html

About the author: Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.

Getting a Mortgage Quote Online

Author: Jay Moncliff

If you are interested in buying a home then you are certainly shopping for a mortgage quote from a variety of different lenders. This is important because when you have more than one mortgage quote you can compare the different lenders and find the one that is best for you. Frequently, the average mortgage quote online will be lower than the average mortgage quote from your neighborhood bank. Since every penny counts and you want to save as much money as possible, get a mortgage quote online as well as from your neighborhood lenders to find the best deal for you. The following suggestions will help you find a mortgage quote online as well.

Mortgage Quote Tip #1 Bid for Quotes The best way to get a mortgage quote online is to visit the sites that ask for some general personal financial information and then submits it to various lenders. Then, all of the lenders respond with a mortgage quote for your personal financial situation. Once you receive the mortgage quote it is up to you to forget it or contact the lender that provided you with that particular mortgage quote.

Mortgage Quote Tip #2 Professionals You want a professional and real mortgage quote, so make sure you are dealing with a professional company that will provide you with a legitimate mortgage quote online. If not, you will be wasting your time and risking your investment by dealing with a sketchy company.

Mortgage Quote Tip #3 Realistic While you want the lowest mortgage quote possible, you need to make sure the mortgage quote is realistic within the scheme of things. If you receive a mortgage quote that is several percentage points lower than the lowest mortgage quote you have seen, you might want to question it. While there are many reputable online mortgage quote companies, there are those out there that are not professional.

About the author: Jay Moncliff is the founder of

http://www.mybestmortgage.info a website specialized on Mortgage , resources and articles. This site provides updated information on Mortgage. For more info visit his site: Mortgage

A Whole Different Kind of Mortgage Broker

Author: Craig Romero

There's a different kind of mortgage broker on the block, and they're giving conventional mortgage brokers a run for their money. With today's current economy, consumers have to be as budget conscious as ever, and it's showing in every consumer decision they make - including shopping for a mortgage.

Gone are the days where the consumer waits with baited breath as to whether or not the corner mortgage broker can find financing for the home they want to buy.

Say hello to today's new mortgage seeker; the one who has lenders competing for their business, makes educated lending choices and is making upfront mortgage brokers more popular than ever. So what is an upfront mortgage broker? The main difference between an upfront mortgage broker and a conventional mortgage broker is that an upfront mortgage broker discloses their fees to the borrower up front and in writing.

The borrower will pay the broker a fee in addition to paying the wholesale loan price. With conventional mortgage brokers, borrowers don't know the true cost of the loan until after the application has been submitted. The conventional lenders add a markup to the wholesale rate of the mortgage to make their profit. While on the surface it may seem like the prices quoted by upfront mortgage brokers compared to the quotes received by conventional lenders would not be the wise choice, don't be fooled.

The quotes you get from an upfront mortgage broker will be an accurate reflection of what you're really going to pay. Just because a conventional mortgage broker promises you the moon, does not mean that he can actually deliver it. There are other reasons that have conscious consumers choosing upfront mortgage brokers over the traditional conventional brokers.

While conventional mortgage brokers don't always have the best interests of their customers in mind, upfront mortgage brokers gain nothing by providing their borrowers with anything other than the mortgage that best suits their needs.

There are also times when mortgage brokers are given rebates by third parties.While a conventional broker may keep this rebate as a part of their profit, an upfront mortgage broker will always pass this rebate on to the borrower.

With consumers appreciating honesty and no-nonsense approaches when dealing with their lending needs, upfront broker methods may just change the face of mortgage lending forever.

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Written by Craig Romero

Discover how to quickly build a minimum of $40,000 worth of home equity and pay your mortgage off in 10 years or less without making biweekly mortgage payments. Visit: http://kv.iwarp.com/mc.html

About the author: Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.

PMI - Private Mortgage Insurance

Author: Dan Lewis

Many a first-time homebuyer has grumbled about paying private mortgage insurance. This article discusses the particulars of private mortgage insurance, also known as ""PMI.""

Private Mortgage Insurance

Unless they owners are insane, every business in the United States carries some form of insurance to protect against losses. The various lending institutions that issue home loans, equity lines and refinances to borrowers are no different. The insurance they carry is private mortgage insurance.

Private mortgage insurance protects a lending institution from losses if you default on your loan and a home goes into foreclosure. Essentially, the lending institution is going to be covered for any shortages between the cost of liquidating the home and the amount of the loan. This is of particular importance to a lender when the housing market pulls back from high valuations. In such a pull back, it is not uncommon to see the total mortgage balance exceed the value of the home. Obviously, this makes lenders uncomfortable.

PMI - Premiums

Most homeowners can wrap their minds around the need for private mortgage insurance. The grumbling starts, however, when they find out who has to pay for the insurance. Yep, the homeowner is on the hook. As the homeowner, you are paying for insurance that will protect the lender if you default. While this may not seem fair, keep in mind the lender is giving you a rather sizable chunk of money. If you are still grumbling, there is a way to avoid paying mortgage insurance.

20 Percent Down

If you take out a home loan, the 20 percent figure will come front and center in your mind. Why? 20 percent is a magic figure in the world of home loans and mortgages. If you make a down payment of 20 percent, you are not required to obtain or pay for private mortgage insurance. With PMI premiums running $1,000 or more a year, it makes sense to pay 20 percent as a down payment if at all possible.

What if you can't scrape together 20 percent of the home value for the down payment? Well, you're stuck paying PMI, but not forever. Once your equity in the home reaches 20 percent of the valuation, you can cancel the PMI. Keep a close on your equity as lending institutions are under no duty to tell you when the magic 20 percent figure is reached. Oddly, they almost never seem to remember!

PMI

Private mortgage insurance is expensive, but you can avoid it with a sizeable deposit. If you can't come up with that chunk of change, try to keep in mind the beautiful home and investment the loan let you acquire.

About the author: Dan Lewis is a mortgage broker with http://www.gwhomeloans.com - San Diego mortgage brokers providing home loans and refinances. Visit http://gwhomeloans.com/services.html to learn more about options for San Diego mortgages.

Getting the Best Mortgage Rate

Author: Jay Moncliff

Buying a home is an expensive endeavor so getting the best possible mortgage rate should be one of your main priorities. By deciding to get the best mortgage rate possible you will be making a positive decision to help you for many years to come. However, just deciding to get the best mortgage rate available is not going to get you the best mortgage rate available. Instead, you will need to learn the tips and tricks for negotiating with your mortgage lender in order to receive the best possible mortgage rate for your personal situation.

Mortgage Rate Tip #1 Origination Fee Your mortgage rate might be low in your mind, but you must take the origination fee into account as well because this can increase your APR. Lenders frequently charge 1%, but you can always negotiate the mortgage rate origination fee lower. Also, if the origination fee is much higher than 1% you need to either negotiate it down, or find another lender with a more favorable overall mortgage rate.

Mortgage Rate Tip #2 Lock in the Rate When negotiating your mortgage rate, make sure your lender is prepared to lock in your rate for at least 30-60 days. This way you will be guaranteed a particular rate even if rates skyrocket the next day. Another not trick many individuals are not aware of is to include a clause that also will allow you to take a lower rate if rates fall during this period. This is a great mortgage rate tip because you get your mortgage rate locked in so it can't go any higher, but if the average mortgage rate goes lower you receive the lower rate.

Mortgage Rate Tip #3 Fight If the mortgage rate drops significantly and you have already signed a deal locking in a particular mortgage rate and don't have a clause that ensures you will receive the lower rate, then you need to fight. You simply need to call your lender and say that while you signed the lock in agreement you want the lower rate. This will take some negotiating, but your lender wants you business and might be willing to negotiate the mortgage rate with you.

About the author: Jay Moncliff is the founder of

http://www.mileniummortgages.com a website specialized on Mortgage Rate , resources and articles. This site provides updated information on Mortgage Rate. For more info visit his site: Mortgage Rate

97% Of American Homeowners Overpay Their Lender In Mortgage Interest Every Month.

Author: Craig Romero

If you own a home, have just re-financed or are shopping for a mortgage, you'll be outraged.

Housing: Americans across the country were shocked to hear of a new poll that states 97% of homeowners here in America are overpaying millions of dollars each month in mortgage interest.

The National poll was conducted last month to determine how many homeowners take advantage of the prepayment loophole in our mortgage system, which eliminates costly interest overpayments.

The shocking results showed only 3% of America's homeowner population utilize this loophole and take advantage of the valuable benefits created by it.

When Sean Drover, a Chicago businessman and homeowner found out he was overpaying $217 in mortgage interest every month, he was appalled.

""Honestly, I was sick to my stomach when I thought back on all the monthly payments I'd made. If I would have known about the pre-payment loophole when I first bought my home I could have put all that money into equity instead of my lenders pocket.""

The problem lies with what the banking industry calls ""front loading"". This is when the majority of a homeowner's payment is applied towards the interest on the loan instead of the original amount borrowed.

The disturbing fact about front loading is it ensures you'll pay over three times the original amount borrowed. Thus, resulting in enormous profits coming straight out of your pocket and directly into your lenders.

... Most people (97%) never stop and take a good look at how damaging the system really is. Unfortunately, it's just the way conventional mortgages are structured here in America.

Average Homeowner overpays $60,000

In fact, the average homeowner in America is overpaying $2000 in mortgage interest every year, or $60,000 over the life of the mortgage.

""That's an enormous amount of money"". Says top mortgage analyst, Craig Romero. ""This is money that homeowners are needlessly giving away each year. Imagine what a person could do with an extra $60,000.

While gaining back thousands of dollars from these overpayments is a huge benefit, it's not the only one. Cutting up to 10 years from the term of a traditional mortgage is also another major advantage.

""I've been using the prepayment loophole for years"". Says Denver homeowner, Curtis Landau. ""I've actually been able to remodel my home and pocket about $25,000...all from the equity that was built so quickly.""

Americans must understand this prepayment loophole isn't something lenders are eager to share with their customers. If they did, they would risk taking a huge cut in profits.

With over 50 million mortgages in force, it's estimated Americans overpay their lenders in excess of $12 billion every year. It's no wonder this loophole is kept secret...lenders are undoubtedly getting rich off these interest overpayments.

Written by Craig Romero

Free report on how to implement a proper bi-weekly payment plan visit: http://kv.iwarp.com/mc.html

About the author: Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.

Best Buy to Let Mortgage Deals

Author: Jennier Tweed

Are you looking for the best buy to let mortgage products with the best rates payable? It's important to know what you can borrow first and consider the different options available to you.

Most lenders will offer a maximum loan of 85% against the investment property for sale requiring you to fund at least a 15% deposit. Some buy to let mortgage lenders may be in a position to offer more favourable rates if you have a higher deposit available. With the buy to let mortgage industry as hungry for the business as each other it is worth monitoring the market on a regular basis as new products are being launched on an almost daily basis. Always find out the best buy to let mortgage deals available at the time. Some investors may decide to retain their entire investment property portfolio with one lender, but it is important to realize that different products between different lenders can provide you with maximum flexibility and cashlow depending on how you structure your buy to let funding.

What If I don't have a Deposit?

If you are looking to invest in your first buy to let investment property but don't have at least a 15% deposit, then you may find that you could release some equity from your own residential property. Contact your current lender for more details or find out more if you don't have a deposit and how you can start your buy to let property portfolio.

Once you have established that you are in a good financial position to start on your first buy to let purchase, then you will need to know what options are available to you. Spend some time using some of the FREE buy to let mortgage quote systems and see how different buy to let mortgage products compare.

Buy to Let Mortgage Types

Variable rate buy to let mortgages

This is the lender's own mortgage rate and one that is subject to change whenever the lender chooses which is at the same time of base rate changes. This means that if you are on a lenders standard variable rate buy to let mortgage product then your monthly repayments will increase or decrease accordingly although they very rarely pass on the full percentage reduction to the client. This type of product does also allow the lender to change the rate even if there is no change in the Bank of England base rate. So if you are looking for something a bit more palatable why not look at your other options.

Discount buy to let mortgages

For a set period, the lender offers a reduction on its SVR (standard variable rate). Let's say, it might offer a discount of 1.5 per cent over three years. However much the SVR (standard variable rate) increases or decreases during the discount period, you always pay a rate 1.5 per cent lower.

Stepped Discount buy to let mortgages

Its also worth considering stepped discount buy to let mortgages, where the level of the discount reduces after a set period. For example, you may be offered a 1.5 per cent discount for a year, followed by a 0.75% per cent discount for the second year.

Fixed-rate buy to let mortgages

Regardless of the (SVR) standard variable or changes in the base rate, this kind of buy to let mortgage offers a fixed interest rate for a set period. The monthly mortgage repayments will remain the same giving the property investor the knowledge of what their monthly outgoings will be for a set term.

Capped-rate buy to let mortgages

The capped-rate buy to let mortgage offers a limit as to how high the interest rate can go. The rate you pay can move up and down below that level but never go beyond it. Your payments would reduce if there were any base rate decreases.

Drop-lock buy to let mortgages

This is a feature that is included in some buy to let discounted mortgages. Initially you decide to opt for a discounted product but for a small fee you have the option to drop into one of that lender's fixed rate products. At which time you would then be bound by the terms of the new fixed rate product.

Tracker buy to let mortgages

Tracker products can be a good option for buy to let investors. Tracker products offer a margin over the base rate for certain periods of time. Some will offer a buy to let tracker product which tracks the base rate plus a margin for a few years whereas recently there are more products coming on the market where they will track the base rate for the life of the loan. Providing it is a low enough margin over the base rate and the base rate remains at a comfortable level, this can be particularly cost effective to a buy to let landlord as it can avoid the necessity for regular refinancing and the costs involved in the exercise.

About the author: Jennifer Tweed is the founder of buytolet4sale.com, one of the UK's first property portals dedicated to all types of investment property for sale and everything you should need for your sale and purchase. Learn more about buy to let

Mortgage vs. Real Estate Lead Generation

Author: Jimmy Sturo

It is fairly common for real estate companies and mortgage brokers to use leads. There is a difference between mortgage lead generation and real estate generation. Mortgage lead generation deals with people who need to refinance their homes or apply for loans, while real estate lead generation is a service that connects potential buyers with real estate agents.

Mortgage leads are generated in a number of different ways. One way to create the leads is for the lender, that is the mortgage broker, to appear in a paper or online directory. This lets potential customers make the first contact. The lenders give information about themselves, like the interest rates they charge and types of lending programs they offer, along with their contact information. This allows potential borrowers to search out the lender that is best for them.

Real Estate lead generation is somewhat different. It involves connecting prospective buyers to real estate agents. It is usually a good idea to use a real estate lead generation service that uses only inbound leads, meaning that the buyer contacts the lead generator looking for a real estate agent. This way, the lead generator can get the most information possible from the buyer in order to find the most appropriate real estate agent. Many lead generation services use tricks to lure prospective buyers.

Mortgage lead generation helps lenders and borrowers find each other. This service benefits everyone involved. Some of the most successful businesses on the Internet are lead generation agencies.

About the author: Lead Generation Info provides detailed information about sales, mortage, MLM, business-to-business, internet, and insurance lead generation, lead generation telemarketing, and more. Lead Generation Info is the sister site of MLM Leads Web .

Mortgage 101 - Rational Decision Making

Author: Kevin Erickson

A big part of getting approved or rejected in the mortgage process lies in your ability to make rational, unemotional decisions. It's essential that you separate yourself from the emotional issue of getting a house and approach the whole process like a business.

People get a bit goofy when it comes to money... especially when it comes to their money and in the case of the getting a mortgage you're talking about the most money anyone will ever spend. As a result, if you can take the emotion out of the equation your chance of making the right decision will increase dramatically. If not, you could be in for a tough road because people who make mortgage decisions based on emotion - make mistakes.

Mistakes = Emotion + Money Those who take their time and make decisions based on the reality of their individual situations enjoy much greater success when you look at their overall financial situations.

The following questions are designed to help you determine how long you expect to be in a prospective new house or hold a mortgage. They should also help you to do the necessary soul searching ""before"" you make such a huge decision. In fact, the length of time you keep a mortgage may be the most important financial question you need to answer because how you answer it will determine the strategies you need to follow when selecting and paying off a mortgage.

The bottom line is that only you can make the decision because only you know your position in life now and only you can make the decision on what direction to take your life in the future.

Personal Questions 1. How long did you live in your last house? Why did you move and is that a recurring factor in your life? 2. Are you expecting any major life-style changes? 3. Any major health concerns in your life? 4. Is this going to be your last house before retirement?

Family Questions 1. Are you expecting any new family members (i.e. children, elderly parents, etc.)? 2. When will your children be moving out? 3. How stable is your marriage?

Financial Questions 1. Am I expecting a promotion or job transfer? Am I transferred at regular intervals? 2. How is my overall job stability? 3. Are you planning on retiring soon or are you just entering the work force? 4. Is this an investment property with long term rental potential? 5. Instead of selling this house when we move, could we rent it out?

Economic / Geographical 1. Are property values going up or down in the neighborhood? 2. Is the local school system acceptable? 3. What are the property taxes? 4. What is the overall economic condition of the area - city, county? 5. Are there any long term changes expected such as roads, schools, malls, etc.?

Location / Neighborhood 1. How long will this house meet our needs? 2. What is the condition of the house? Any major repairs needed? 3. If this is a starter home will it be too small in a few years? 4. How are the neighbors? 5. Does the overall condition of the neighborhood appear to be improving or deteriorating? 6. Are you buying this house only because it's all you can afford?

Of course, there's many more questions that could be asked but for purpose of this article let's take a look at some examples that will demonstrate how answering particular questions will help you in determine what type of mortgage to pursue - 30 year fixed, interest only, 2/28 ARM, 15 year fixed and so on.

Example 1 - If you lived in your last house for about 10 years and the house before that for about the same amount of time, odds are you'll live in the next one for lengthy period of time also. Therefore, you should accordingly and thus you may want to look at either a 15 or 30 year fixed mortgage.

Example 2 - If this is your first house and you plan on moving out as soon as you can afford it then plan on the best mortgage for being in a house for a short period of time. An interest-only or 2/28 ARM mortgage may be the route to go. The 2/28 ARM is fixed for two years and then the rate goes up (it's adjustable) but if you plan on moving quickly anyway the first two years is will be lower than a fixed rate mortgage and thus it will save you money. Interest-Only mortgages are usually amortized over 30 years, just like a 30-year fixed but since you are only paying the interest the payments will be lower. Therefore, if you would like to lower your payments and possibly use the extra money to save for a down payment on your new home then an interest only mortgage may be a good option.

Logical Decisions + Effective Planning + Money = Success Although it's difficult, if you remember to approach the purchase of a new home as a business decision and not as an emotional one the odds that you'll make the right decision will be greatly enhanced.

This article may be reproduced only in its entirety.

About the author: Kevin Erickson is an entrepreneur and writer. You'll find more of his work at: Bad Credit Mortgage | Eliminate Credit Card Debt | Debt Management

FHA Home Mortgage Purchase Or Refinance Loan - Why You Might Consider Getting An FHA Loan

Author: Carrie Reeder

Most borrowers have heard of FHA home loans. They are very common. You hear about them mostly as loans for first time borrowers, which is common. However, most people don't realize that FHA loans can also be does for refinancing. They are not only for purchasing a house.

HUD owns and operates FHA, which is a program designed to help borrowers who might have difficulty buying a house. If the borrower falls within FHA's requirements FHA insures the loan for the lender, which makes the loan very low risk for the lender, which is very good for the borrower. It could mean a lower interest rate, better terms and just an overall better loan.

FHA's requirements are; a down payment of 3-5%, the home must be under the FHA's set loan limit for the county that the borrower lives in and a few other small requirements.

The main advantage to an FHA loan, is if you can fall within their requirements, your credit history or income level, will not hold you back from getting a home loan. If you are getting turned down from other lenders because of a high debt to income ratio or because your credit is bad. You may want to consider applying for an FHA loan, where those requirements are either non-existant or much more flexible.

If the idea of down payment is holding you back, consider also, that FHA loans allow the use of a non-profit organization as a source for the down payment, which opens up the option of using down payment assistance programs like Neighborhood Gold.

To view our list of recommended mortgage lenders online, who offer FHA programs, visit this page: http://www.abcloa nguide.com/govloans.shtml

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Zero Down Mortgage Loans - Is 100% Financing A Good Idea And Can You Get Approved?

Author: Carrie Reeder

Are you wondering if you can get approved for a home loan with 100% financing? Are you also wondering if its a good idea to get a mortgage loan with no money down? Here are some points to keep in mind as you apply and consider your different mortgage loan options.

To qualify for 100% financing on a purchase mortgage loan, it would be important for you to have a credit score of at least 600 or higher. If you are between 600-650 on your credit rating, you may need to go through a subprime mortgage lender in order to get 100% financed.

If your credit score is higher than 650, you can probably apply with most mortgage lending companies online and be able to get an approval.

If your credit score is between 580-600, you will probably need at least 5% down to make the loan work with a subprime mortgage lender.

Getting a mortgage loan with 100% financing can sometimes mean a higher rate. Sometimes an alternative is to get an 80/20 loan, which is a first and second mortgage, with the first mortgage being at a lower rate and the second mortgage being at a higher interest rate. The benefit to doing this type of loan is that it eliminates the need for PMI insurance, which can be $100 or more a month, depending on the size of your loan.

Also, consider getting quotes for 100% financing and then quotes for 95% financing, with you putting 5% down. See, if the savings on the interest rate is worth putting the money down.

To view our list of recommended mortgage lenders online who can provide 100% financing for good and bad credit, visit this page:

http://www.a bcloanguide.com/mortgageloans.shtml .

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Home Mortgage Loan Refinancing Online - 3 Tips On Refinancing Your Home

Author: Carrie Reeder

When refinancing your home, it's helpful to know a few things about refinancing. When you refinance, you usually pay off the old loan and sign for a new loan, whether you are refinancing your 1st mortgage, second mortgage or home equity loan. The expense that comes in to play when refinancing are the new closing costs and points charge for getting a new loan.

How much can you expect in closing costs for a refinance? Usually between 3-6% of the total loan amount. So, for a loan amount of $150,000, you can expect to pay around $7 in fees. Usually, a company that will say that have no closing costs, will also charge a higher interest rate to compensate. The mortgage broker has to make money somehow, they will either charge a higher interest rate or charge higher closing costs. The best way to compare refinance lenders is to analyze all of the expenses.

Should I pay down points on my loan? If you plan to stay in your home for more than 3 years, it may be smart for you to consider paying down points on the loan which reduces your interest rate. That pays off if you plan to stay in your home for a while, but if you plan to sell the home soon, you may lose more money paying down the points on the loan.

How can I know if I should refinance or not? If you are interested in finding out whether it would save you money in the long run to refinance with the current interest rate, there are financial calculators online that can help you determine if you would save money refinancing your house or not.

To view our list of recommended refinance mortgage companies online or to use a refi- calculator, please visit this page: http://www.abclo anguide.com/refinance.shtml

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Online Mortgage Brokers - What You Might Not Know About Home Loans & The Internet

Author: Carrie Reeder

You may think that applying online for a mortgage is the same as applying with a broker in the 'real world', only more convenient.

While applying for a mortgage online is much more convenient, and sure to help you get a lower rate because of the amount of competition online, there is another benefit to using the internet when applying for a loan.

Sometimes when you meet a broker and he/she takes a look at your financial qualifications, they might say, we can get you this rate. And that's it. That is your loan option with that broker. Most brokers have the mentality of wanting to process as many mortgage loans as quickly as possible, which is understandable. Well, one thing that you might want to know to help yourself out is that there are literally hundreds of different mortgage programs available. Most brokers and lenders will not explain to you the mortgage options you do have. They usually have a few favorite programs and will just use those over and over since they know them.

A great way to help yourself is to research loan programs online. One benefit of the interne is that there are many informative articles and information to help you understand the pro's and cons of every kind of loan program, FHA loans, balloon mortgages, VA loans, graduated payment mortgages, Fannie Mae and Freddie Mac loans.

Once I started doing my research online and reading through the mortgage company websites online, I was amazed to discover that there are mortgage loans online that I would have liked to had when I first bought my house, but I didn't even know they existed and they were never offered to me by my broker. I would have saved myself a lot of money had I done my research online first.

To view our list of recommended mortgage lenders online, visit this page: http://www.a bcloanguide.com/mortgageloans.shtml .

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Good FICO Credit Score? Tips To Getting The Most Out Of Your Home Mortgage Loan With Good Credit

Author: Carrie Reeder

Sometimes so much is talked about how to solve the problem of having bad credit, but what about when you have an excellent credit rating? Good credit is considered to be a credit score of 650 or higher. How can you get the best interest rate and loan terms to make your good credit history work for you? Even with excellent credit, you have to be careful not to get talked into a loan that may not be the best one you could qualify for. Here are some tips to help you find the best loan for your great credit history:

1. Apply with as many mortgage companies online that will provide you with more than one quote per application, as long as they will not pull your credit with your application. If you are about to start applying for a mortgage, you don't want to have your credit pulled until you have narrowed down which mortgage company you want to work with. Every time your credit is pulled, your FICO credit score drops.

2. Talk to your lender about closing costs. If you have excellent credit, the lenders should be falling over themselves to get you a loan. Ask for special treatment. Find out what fees your broker or lender may be able to reduce or remove from your closing costs. Find out if they will match lower fees offered by another lender.

3. Make sure your lender is offering you excellent customer service. Are they returning your calls quickly? Are they answering all of your questions to your satisfaction? Have they thoroughly researched all of your loan options and offered you more than one possibility? If they haven't, you should probably look somewhere else. With good credit, you have no reason to be a quick, easy sale for a lender.

4. Research interest rates, mortgage information and articles online so that when your lender offers you a loan package, you will know about the fine print ahead of time. Whether you are purchasing for the first time or refinancing, it will help you to understand more about the mortgage process.

To view our list of recommended purchase or refinance mortgage companies online, visit this page: http://www.a bcloanguide.com/mortgageloans.shtml .

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Mortgage Borrowing Tip - Length of Loan

Author: Dan Lewis

When borrowing money for a mortgage, homebuyers are primarily concerned with simply qualifying. Still, paying attention to the length of the loan is a borrowing tip that can save you a ton of money.

Home Loans

In the mortgage industry, the length of your loan used to be the only major issue you had to deal with. How times have changed! In the current market, the variety of loans that exist are simply stunning. Of course, the massive increase in loan options has inevitably led to massive confusion.

Borrowing Tip

Regardless of the type of loan you go with, you should always try to keep your loan term as short as possible. The shorter the loan period, the less you will pay in interest. Here an example using 15 and 30 year loans.

Assume our first homebuyer gets a $100,000 loan at 8 percent interest. He length of the loan is 30 years with a monthly payment of $733.76. For this mortgage, our homebuyer is going to pay $164,155.25 in interest over the life of the loan.

Now, take the same scenario, but reduce the term of the loan to 15 years. Our homebuyer is going to see the monthly payment bumped to $955.65 per month. Over the length of the loan, our homebuyer is going to pay $90,000 less in interest payments over the life of the loan. On top of this, the house will be paid off in half the time.

When borrowing money for a home purchase, you have to carefully budget your finances. If you can afford increased monthly payments, however, a shorter loan length is going to save you a lot of money over time.

About the author: Dan Lewis is a mortgage broker with http://www.gwhomeloans.com - San Diego mortgage brokers providing home loans and refinances. Visit http://gwhomeloans.com/services.html to learn more about options for San Diego mortgages.

A Second Mortgage Vs. A Home Equity Loan

Author: Jay Moncliff

If you own your home and need a loan for whatever reason you have probably considered a second mortgage or a home equity loan to help you pay your bills, buy a new car, or pay for some other investment. However, you probably don't know whether a second mortgage is better or worse than a home equity loan for your particular situation. However, don't despair because there are some tips that will help you decide whether a second mortgage or home equity loan is for you.

Second Mortgage Tip #1 One Time Expenses A second mortgage is the preferred option if you have a one time big expense you need to cover. Examples of this include remodeling your kitchen, paying for a wedding, or buying a new car. In these instances a second mortgage will probably work best for you; however this will depend on the equity in your home and your credit score.

Second Mortgage Tip #2 Recurring Expenses If you are going to have recurring expenses then you might not want a second mortgage because a home equity loan will work out better for you. The second mortgage is best for large amounts of money at once while recurring expenses like tuition are better paid for with a home equity line of credit.

Second Mortgage Tip #3 Repayment You will also need to consider your ability to repay and which option will suit you best. A second mortgage can be financed similarly to your first mortgage, while the home equity loan can be paid back more like a credit card. Consider your financial position and ability to make monthly payments before applying for either a second mortgage or a home equity loan.

If you still don't know whether a second mortgage or home equity line of credit is for you, then talk with your lender and see what is recommended for your equity, credit, and ability to repay the loan.

About the author: Jay Moncliff is the founder of

http://www.new-mortgage-center.info a website specialized on Mortgage , resources and articles. This site provides updated information on Mortgage. For more info visit his site: Mortgage

Mortgage Terms and Definitions

Author: Dan Lewis

The mortgage process can be a little confusing if you aren't familiar with the terms used in the process. To help you out, here is a list of terms with corresponding mortgage definitions.

Broker: An independent mortgage professional that oversees the entire home loan process.

Lender: The business entity providing and funding the home loan.

Processor: Prepares your loan for underwriting. The processor makes certain your income is properly documented and verified, the appraisal is being performed, and title and escrow are opened.

Escrow: Works with title to certify payoff demands for all existing liens. Escrow is an independent group which disburses monies to all parties in the loan transaction and ensures full payment.

Title: Ensures both the borrower and the lender have a clean title on the home, guaranteeing to both parties there are no mistaken liens and that all existing liens on the home are scheduled to be paid and removed.

Underwriters: Make the decision to approve or deny the loan. Hired by the lender, their job is to review all aspects of the loan based on the lender's approval guidelines.

Automated Underwriting: A computer generated loan approval. This automated process only takes minutes and is the quickest path to approval.

ARM: Adjustable Rate Mortgage. An ARM has a fixed rate for a specified amount of time. After the initial term, the loan becomes adjustable and the rate can fluctuate depending on market conditions. ARM payments are initially lower than fixed rate payments. This is an excellent option for people with damaged credit, those who plan to sell their homes short term or who simply want to save money on their monthly payment.

DTI: Debt to Income Ratio or your total monthly debt in relation to your gross monthly income. For example if you have $2,500 in total monthly debts with a total income of $5,000, your DTI is 50%. The higher the DTI, the higher the lender's risk and 50% is typically the maximum allowable DTI.

Equity -- The amount of vested or owned interest in your property. Subtract the total balance owed on the property from the appraised value to determine your equity.

FICO Scores: Most lenders use the FICO scoring system to qualify borrowers. The FICO score is a number assigned from each of the three main credit repositories (Experian, Trans-Union, and Equifax). This number is calculated based on your complete credit profile and takes into account late payments, balances on trade lines, inquiries for additional credit, judgments, bankruptcies, total debt, length of credit history, and more. The lower the FICO score, the higher the lender's risk.

LTV: Loan to Value Ratio. For example: a loan amount of $75,000 on a home valued at $100,000 equals an LTV of 75%. Your equity would equal $25,000, or 25%. The higher the LTV ratio, the higher the lender's risk.

Stated Income: Your own statement of income on the application versus income that can be independently verified. Use of stated income is an excellent option for self-employed individuals or those with hard to prove income.

Getting a mortgage for a home purchase can be stressful. If you understand the lingo being used, you will find it less so.

About the author: Dan Lewis is a mortgage broker with http://www.gwhomeloans.com - San Diego mortgage brokers providing home loans and refinances. Visit http://gwhomeloans.com/services.html to learn more about options for San Diego mortgages.

Discover the Best Home Mortgage Rates

Author: Tripp Taylor

There are many people out there today that are looking to buy either their first home or their dream home. But in order for most people to do this, they need to get a home mortgage (also known as a home loan). There are many places to go in order to get a home mortgage. But before purchasing a home, you should know that doing so is very expensive and it is a life long commitment. This means that you need to discover the best home mortgage rates so that you can save a bit of money.

There are several companies that offer home mortgage rates. One company you might consider is found online. It is called E-loan at eloan.com. This company offers various home mortgage rates. One rate they offer is at 5.8 percent. This is for an 80/20 loan. This means you take out 2 separate loans, one for 80 percent and one for the remaining 20 percent. You are not required to put any money down for those of you that do not have any extra cash but would still like to own their own home. The 5.8 percent rate is fixed for a term of 30 years. This means you do not have to worry about your house payment constantly changing as it would if you had a variable rate. This is a great home mortgage rate, but do keep in mind that low home mortgage rates such as this are only available to people with good credit.

Another company you may consider for great home mortgage rates is Countrywide. Countrywide can be found online at countrywide.com. This company also offers various rates. The top rate they have now is a 6.1 percent rate for a 30 year loan. Countrywide also offers ARM payment options. ARM stands for adjustable rate mortgage. With this type of loan, you will get an extremely low rate for the first 5 years of a 30 year loan. After the first five years then your rate will jump much higher. This type of mortgage rate is good for someone who only plans to own the home for 5 years or less and then sell it or for those of you who plan to refinance after 5 years. Countywide also has an added benefit if you choose to use them. First of all, your home mortgage rates will be very low if you have good credit. Second, with good credit they promise only half of the paperwork needs to be filled out!

These companies' rates are just a sample of some of the best home mortgage rates that are out there. Before you buy, do some research to find out who can offer you the best home mortgage rates. With careful research, you can be that much closer to getting into your new home!

About the author: Tripp Taylor offers expert advice and great tips regarding all aspects concerning mortgage rates. Get the information you are seeking now by visiting http://www.mortgageratescenter.info

Mortgage Leads, Where to Begin

Author: Jay Conners

Mortgage Leads, Where to Begin

If you are considering investing your hard earned money with a mortgage lead company, or you are switching lead companies because you have gone through the pain of seeing your money go down the drain, here is a good place to begin.

Before you take that leap of faith with a lead company, take a step back and reexamine exactly what it is you are looking for from a lead company.

You should be looking for the exact same thing that you would expect from any other reputable company that you deal with. And that would be good quality service.

Before you invest your money, research the company, most of the research can be done right there on their web site. Read the FAQ's, read about their return policy, read about how they acquire their leads, etc.

Once you have read all there is to read about their company, give them a call and speak with someone in their customer service department. Ask as many questions you feel to be appropriate, and verify everything you have read with them.

You should be able to get a good read on the company from the customer service representative about what their company has to offer. And make sure their answers to your questions are matching up to what their site implies.

Lead generation will be something you definitely want to research. It is crucial for you to find out where exactly the lead companies obtain their leads from.

Do they own and operate their own sites to obtain their leads? Or are they buying their leads from other lead companies and recycling them?

Remember, as with just about everything else, the better the quality of the product, the better your chances of success with it. The same holds true for mortgage leads.

Also, consider the pricing that is involved. Make sure you compare companies, and will you be getting what you paid for? You don't want to be spending twenty-five dollars on a lead that has already been sold five to seven times.

Check out their return policy. Is it fair? Will they refund your money if the contact information is bad? Will they return your lead if the person on the lead is not responding to your calls? Will they return your lead if the customer says something to the effect of, "" I took care of that months ago.""

There is a lot to consider, so before you invest your hard earned money, take the time to do your research.

One more thing . . .

Before investing, call the lead company to make sure someone answers the phone, if you have to leave a message, make sure they return your call. Than, e-mail them and make sure you get a response, if not move on. If they are unresponsive now, you can bet they will be unresponsive when you have an issue with the lead.

You have worked very hard for your money, so before you invest it with a lead company, make sure you do enough research where you know that whatever company you decide to go with, you will be getting the best return on your investment. Good luck.

This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

About the author: Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, He is the owner of http://www.jconners.com, a mortgage resource site, he is also the owner of http://www.callprospect.com, a mortgage lead company.

100% Mortgage Refinancing - How To Get Approved

Author: Carrie Reeder

100% mortgage refinancing allows you to borrow against your equity, while hopefully lowering your interest rates. To get approved for a cash out refinance, you need to have excellent credit. Otherwise, you need to work with a sub-prime lender or apply for a line of credit.

What 100% Refinanced Mortgage Can Do

A 100% refinanced mortgage can allow you to take out all of your home's equity. Anytime you cash out part of your equity, your refinance rates will increase. But rates will be lower than if you take out a second mortgage.

However, with no equity, you will need to carry private mortgage insurance. But if you choose a sub-prime lender, you don't have to worry about paying premiums.

Improving Your Application

Lenders are primarily concerned that you can repay the loan. Without equity, lenders look at other factors, such as income, cash assets, and credit history. Income is important when it is compared to your debt ratio. Other debts, including credit cards and student loans, decreases your borrowing power. So if possible eliminate or reduce your debt.

In the case of job loss or other financial emergencies, lenders want some reassurance that you can handle monthly payments. That is why cash assets, which also include CDs and money market accounts, are important. Six months of savings is a good start.

Your credit history predicts how likely you are to skip payments. But even if you don't have perfect credit, you can find 100% financing with a sub-prime lender. They will also be more lenient with your application, but charge slightly higher rates.

Getting Better Terms

Be prepared to pay at least 3% at the time of closing for your refinancing. Otherwise, those cost will be rolled into your new mortgage and you will be paying additional interest on that money.

You will also want to research loan offers before making a final decision. By researching loans, you can know you are getting the best deal. Don't just focus on rates; take a look at closing costs as well. Remember too that you may find a better deal by taking out a second mortgage to access your equity.

About the author: Carrie Reeder offers advice about Refina nce Mortgage Loans Online. View our Recommended Lowest Rate Mtg Refinance Lenders Online.

The Right Time for Mortgage Refinancing

Author: Mike Hamel

If interest rates have dropped by a percentage point or more since you got your first mortgage, refinancing could save you big bucks. And if you have enough equity so that your new mortgage is for less than 80% of your home's value, you'll be able to stop paying Private Mortgage Insurance (PMI), which will save you even more.

Mortgage refinancing could also result in lower monthly payments, depending on factors such as: if any 'points' are paid to lower the interest rate on the new mortgage; how much cash is taken out at the time of refinancing; the duration of the new mortgage and whether the new mortgage is a fixed-rate, adjustable-rate or variable-rate loan.

""A vast majority of people close their loans, make their payments and don't worry about it again,"" says Bob Cannon of BancMortgage Financial Corp. ""They don't refinance when they should be looking at it.""

Even if you have bad credit and have to pay somewhat higher interest rates, mortgage refinancing will still cost less than other forms of borrowing because the loan is secured by your home. And if you use the money wisely, you can get out of credit trouble and raise your FICO score. This will qualify you for better rates in the future.

Your FICO score is computed and tracked by the three major credit bureaus: Trans Union, Equifax and Experian. Your score is updated quarterly and is negatively affected by such things as: late or missed loan payments, filing for bankruptcy, having too much debt compared to your income, and credit card balances being too close to their limits.

Fixing Bad Credit If you are a homeowner, mortgage refinancing can go a long way toward improving your financial situation. Here are a few other positive steps you can take to speed up the process:

Credit card discipline - Reduce the number of cards in your wallet or purse to one. Take it out only when necessary and pay it off each month.

Credit union membership - If you aren't already a member, join a credit union. They're a good source of loans for purchases like a car or a home.

Automatic savings - Have your bank automatically deposit a set amount from your paycheck into your savings account or retirement plan.

Avoid credit repair scams - There's nothing a credit repair company can do that you can't do yourself with a little research and effort.

Many of the homes on your block have probably been refinanced in the last few years. Now it's your turn. For more information on bad credit mortgage refinancing and a quote based on today's best rates, visit www.badcred itmortgagerefinancingnow.com .

About the author: Mike Hamel is the author of several books and the Senior Writer for AIM Techs, www.salesandmarketingllc.com, an Internet marketing company that specializes in improving visitor-to-sale conversions using proprietary software and advanced SEM techniques.

Utah Mortgage

Author: Adam Smith

If you live in Utah, undoubtedly you have heard of the bankruptcy problem pinching the whole state. For several years now, Utah has held the devious honor of ranking among the states with the highest annual bankruptcy filing rate. There is likely more than one explanation for such a phenomenon. At the very least, there is no easy answer as to why exactly so many citizens of Utah struggle with financial issues. In fact, one might expect the opposite of Utah citizens, given the strong presence of The Church of Jesus Christ of Latter Day Saints and the powerful admonition the president of the church, Gordon B. Hinckley, stresses to its members. President Hinckley strongly advises against incurring any unnecessary debt in addition to living beyond one's means.

Clearly the State of Utah is full of citizens who understand the dangers and trappings set by debt, yet they are no better off then the rest of America. In fact, relative to the other states, Utah is in considerably worse condition. One of the problems can be explored by examining a Utah mortgage. When you are looking to buy house, many people will advise you to purchase as much house as you can afford. Perhaps this is good advice, as real estate prices traditionally trend upward, and the best homes command the highest appreciation. However, if this advice is taken out of context or misunderstood it can prove devastating.

Working Example

For example, let's assume Tom O'Dell received the same advice we just discussed. His neighbor counseled him to take advantage of the low mortgage rates and buy the best house he could afford. All in all, this was sound advice. If you can afford a nice big house than you probably deserve one. So Tom started looking around in upper middle class neighborhoods looking for his dream home. After a week he stumbled across a house that was perfect. It had a great backyard for his kids, his wife would have her own sewing room, and he would get the home office he had always longed for. Based on his income stream, Tom had decided he could afford a $300,000 house. Tom was devastated when he saw the asking price of the house was $3750,000.

When Tom told the real estate agent of his dilemma, how he loved the house but it was just out of his price range, the agent responded positively. The agent seemed confident the price could be negotiated down to $365,000, and that given Tom's steady stream of income for the past 7 years he could obtain a mortgage bridge loan and easily qualify for a bigger Utah mortgage than he had anticipated. As it turns out, the real estate agent was right. The sales price of the home was talked down, the bank agreed offer Tom a short term mortgage bridge loan which could the be rolled into a more permanent mortgage for his new home, and Tom was able to buy his dream home.

What Did We Learn?

Everything worked out just dandy for Tom, so what's the problem? Glad you asked! The problem is one that is so often overlooked. The amount of money you can afford to spend on a house, and the amount of money the bank is willing to loan to you are two entirely different figures. Just because the bank is willing to loan you $365,000 for that dream house of yours does not mean you can afford the monthly payments. What you can afford should be determined by your monthly cash flow, especially taking into consideration your income as well as your debt that must be serviced. Quite frequently a bank will be willing to loan you more than you can afford. The trap is easy to fall into, especially when you have visions of that perfect house circulating in the back of your mind.

Don't let a mortgage drive you into bankruptcy. Securing your next Utah Mortgage can be a pleasant experience, and remain so for the life of the loan, so long as you remember that what you can afford and what the bank will loan you are not one and the same.

Adam Smith is an information author experienced in

affiliate program management . More information on a Utah Mortgage is available at SNCloans.com .

About the author: None

The Death of the UK Mortgage Broker?

Author: Joe Kocsis

The UK Mortgage Industry and CeMAP Qualifications

Regulation of the UK mortgage market has increased in line with the overall trend of consumer protection. It is generally felt that hitherto the UK mortgage market has been under-regulated.

The financial scandals of the 1980s resulted in much tighter control over the entire industry, not least self employed mortgage advisors. It also resulted in greater clarity and transparency with regard to contractual agreements, with the introduction of The Mortgage Code. However, there was still a long way to go. In 1998, banks paid out £1.3 million against 12,000 customer complaints - a 35% increase over the previous year. Mortgages represent one of the biggest areas of complaint with lock-ins and high redemption costs.

The principal problem facing the uk mortgage broker is increased market regulation. In view of current market trends, self employed mortgage advisors are increasingly looking to operate with organisations which provide them with the requisite infrastructure, enabling them to be competitive and meet ever more stringent regulatory requirements. Consequently, Mortgage Networks, IFA Networks are taking an increasing share of the uk self employed mortgage advisor market. It does not end there as a further tightening of the uk mortgage regulations took place from 1st November 2004, when the Financial Services Authority (FSA) took over from the Mortgage Code Compliance Board (MCCB) and the need for CeMAP qualifications were introduced.

Because of this expansion, along with the development of e-commerce, websites and direct sales, there has never been a greater need for objective, experienced and professional personal advice. Consumers need and want objective advice to guide them through the mortgage maze. Self employed mortgage advisors are taking an ever-increasing share of the market and there is a continuing shakedown within the brokerage sector, with Mortgage Networks expanding their influence.

However, since October 31 2004, estimates show that that the number of CeMAP trained personnel who are qualified to advise in the mortgage market have nearly halved. This loss means that the response time for processing mortgage enquiries is likely to increase, along with a rise in administrative difficulties and the risk of compensation claims.

As a consequence of the uk regulations taking hold, there has never been a better opportunity to look at becoming a mortgage broker.

The uk mortgage market is a recession proof business, as when times are good and consumer confidence is high, people tend to borrow for cars, holidays, home improvements and many other things.

Then, when consumer spending has peaked and the economy slows down, many people experience difficulty repaying their debts and meeting their other financial commitments. In such circumstances, it is often necessary for them to consolidate their debts into one lower monthly repayment by remortgaging. Remortgaging clients, debt consolidation, raising capital for home improvements, financing the purchase of holiday homes are all solutions that you will be able to provide and it will keep you very busy in times of recession.

Would you like to become a mortgage broker?

* Are you intent on being successful? * Are you determined to become a high earner?

* Would you like to be in charge of your own destiny?

* Do you think that you would enjoy helping people with their finances?

Well then .. this may just be the opportunity that you have been looking for!

Become a mortgage broker and enjoy all the trappings of being self-employed. Are you looking for the best CeMAP training as the first step to become a mortgage broker?

To attain the CeMAP Qualification you must achieve examination passes in each of the three CeMAP modules, namely:

CeMAP Module 1 - UK Financial Regulation

CeMAP Module 2 - Mortgages

CeMAP Module 3 - An assessment of mortgage advice knowledge

Train to be a mortgage broker

Would you like to see how we can fast track you on a CeMAP training course to pass the CeMAP examinations and more?

Receive our CeMAP training and you could be a Qualified Mortgage Adviser in just 10 Days! Now is your chance!

Our CeMAP training courses will give you the knowledge and the industry qualification that you need to embark on a successful career within the Financial Services sector. Training to be a fully qualified Mortgage Adviser starts with obtaining a pass in the Certificate in Mortgage Advice and Practice (CeMAP) papers 1, 2 & 3.

Our CeMAP training classes are based on groups of between 6-10 people for ease of control and ability to interact with the tutor. We hold monthly courses on a national basis in various parts of the UK.

CeMAP papers 2 & 3

We recommend that candidates take papers 2 & 3 together first, as experience has taught us that candidates pick up the mortgage terminology on these courses and then successfully apply them on paper 1.

We fast track candidates in five days, Monday to Friday in a hotel throughout various venues in the UK. One of our fast track centres is bound to be in your area.

CeMAP paper 1

We fast track candidates in five days, Monday to Friday in a hotel throughout various venues in the UK.

The most successful way to pass the exams is to study in a small group, away from all the distractions of the home, family and the television. We will help you to focus your mind on study, with the clear goal of giving you the knowledge and technique of getting you through the exams.

So what other things are important and why?

* What CeMAP training will you receive to help you to get through your exams?

* Will you need to self study or be in a group?

Yes the opportunities are endless after CeMAP training and the only restrictions are you and your desire to work hard and be successful. The earnings of a mortgage and insurance consultant can vary from £25,000 pa to £150,000 pa dependent on the individuals ability and aspirations but one thing is for sure, the ability to earn is in your own hands.

In partnership with you, our continued success depends on your success, so we will be there to help and guide you every step of the way.

If you're the calibre of person who can strive to succeed in your own business then Money Marketing Limited is right for you.

One word of caution however, we do not guarantee to accept your application if we do not consider you to be of the required calibre.

Visit our website at http://www.cemap-training.org.uk for further information

About the author: The Marketing Director of Money Marketing Limited in the UK

Start Again with Mortgage Refinancing

Author: Seymore Hennigan

If you are interested in optimizing your monthly payments on debt, or simply looking to stretch your income a little further each month, you might want to consider refinancing your mortgage.

There are two very basic ways to go about this. First, you might consider switching from a fixed rate home loan, to an adjustable rate home loan. A fixed rate home loan is a loan in which your interest rate is ""locked in"" and does not change from year to year. An adjustable rate home loan is a loan in which your interest rate is dictated by the market.

The other option is referred to as a ""cashout"" refinance, in which all your old loans are paid and new ones taken out. This is a sensible option, because the interest you are paying on the original loans is compounded and you eventually start paying interest on interest. A new loan can provide you with the fresh start you need.

When a lender is considering your mortgage refinance application they take into consideration a number of factors including current balance, monthly payment, and the remaining number of months on your current mortgage. Your household income and your debt-to-asset ration will also be considered.

If you are looking to consolidate your debt load or to simply maximize your disposable income, mortgage refinancing might well be your solution. There are few potential drawbacks to consider, mind you. Many lenders will charge extra fees for early or unscheduled payments, so be sure to ask your lender as many questions as you can.

In the case of mortgage refinancing, you may want to consider consulting a mortgage broker. A broker works for you, and not for any particular financial institution. He can take your application, and shop it around to various lenders. This will give you the freedom to determine, to some degree, the terms of your mortgage. It can often result in major cost savings, because you essentially pit one lender against the other for your business. It is definitely something worth looking into, if you are serious about saving some money. If you aren't serious about saving money, you should be.

About the author: Seymore Hennigan has worked in finance for many years. When he is not crunching numbers or advising his family and friends on investments, he writes freelance articles for http://www.mortgageguide101.com - an independent mortgage guide filled with extensive information about

bad credit mortgage refinancing .

Mortgage Equity Withdrawal - The Refinancing Trend

Author: Paul Foley

Mortgage Equity Withdrawal is the formal name for equity refinance, reverse mortgages or simply home loans based on equity (as the security for the loan).

Mortgage Equity Withdrawal rose to 8.7 billion pounds in the second quarter of this year to its highest since the third quarter last year, official data showed (on Tuesday 4th Oct 2005).

Mortgage Equity Withdrawal is a measure of the equity Britons have extracted from their homes but which they have not re-invested in property.

Sharply rising house prices in the last few years have encouraged a trend where Britons refinance their mortgages to extract cash which many economists say has helped support spending.

The Bank of England said that Mortgage Equity Withdrawal was up sharply from 6.437 billion in the first quarter of this year although it is still well below the 14.5 billion seen one year ago, when house prices were rising more than 20 percent annually.

The Bank of England has since cut interest rates by a quarter of 1% to 4.5 percent which could support Mortgage Equity Withdrawal in coming months, particularly as there are signs that the property market may be stabilizing after a year of stagnation.

As a percentage of post-tax income, Mortgage Equity Withdrawal rose to 4.2 percent from 3.2 percent in the first quarter of the year but is well down on 7.3 percent seen a year ago.

"" Mortgage Equity Withdrawal appears to have found its way into increased holdings of financial assets (equities, bonds) as much as extra spending,"" said Geoffrey Dicks, UK economist at RBS Financial Markets.

""Generally the pick-up in Mortgage Equity Withdrawal is probably indicative of more `normalization' of the housing market but while it is saved rather than spent, the policy implications are not huge.""

Official data last month (September) showed the saving ratio rose to 5 percent in the second quarter of this year from 4.5 percent in Q1 (also of this year).

Separate figures showed UK residential construction barely grew in September, putting in its weakest monthly performance since May.

But what does this mean in real terms? There are several key points in this statement, these are:

1.People are refinancing their homes because of increased value 2.People are not necessarily spending the money on the property 3.People are not necessarily spending the money in the high street

These three points are important to all of us, not just the policy makers. Here's why.

Let's consider the first point, people are refinancing there homes because the equity has grown rapidly. This statement tells us that the housing market although not sky rocketing as it was a couple of years ago, is none the less still rising.

The second point tells us that when people effectively withdraw this money it is not to improve the home itself, hence the equity of the property will not grow at a better rate than market rate.

The third point is perhaps most telling, people are not taking the money and spending it in a hap hazard manner but are potentially saving it (bonds, shares, bank accounts). So what do this mean for us?

Well, it's a bit of mixed signals heads up if you like. The general population (property owners) are slipping into ever increasing levels of debt (if you're refinancing your mortgage or 'freeing up equity' as the agents put it, you are effectively borrowing money) - unless it's a reverse mortgage.

People who are refinancing are not improving the quality of the property with the money and so if the market takes a fall their property will devalue as much as the next property (whereas if they'd returned some of the capital into improvements they would at least be sitting on a lesser slump in value).

Finally, and perhaps the most damming sign is that people are saving more, this is not a good sign. In a healthy economy the rate of saving is low, this is primarily because confidence is high (people aren't worried about the bills or their jobs) but the fact that more people are now starting to save money rather then spending it means that the retail sector will be taking a hit, this means that the bottom end jobs will be in danger, this in turn has a knock on effect in the service sector and becomes a vicious circle - the end result being market stagnentation .

But what this trend does illustrate quite simply is that you can potentially get more money back in savings interest than you pay out in refinancing interest - so at the moment the smart moneys in equity refinance.

About the author: The author, Paul Foley, is a successful counselor and Webmaster of the refinance information site http://www.mortgagehelp4u.comThe site is dedicated to providing information to those who need it regarding getting out of debt by means of financial tools. Paul also runs the site http://www.cash-sense.com/cashsense.html - make money the easy way.

Bad Credit Mortgage Loans - Are You Killing Your Chances Of Getting Approved?

Author: Carrie Reeder

When you have poor credit, your list of lenders that will approve you for a home loan can shrink down very small. You want to make sure that you are doing everything in your power to keep your credit rating as high as you can. Many people will unknowingly hurt their chances of getting approved and make it more difficult for themselves. Here are 3 things you will want to avoid doing if your credit history is already bad.

1. Don't have your credit pulled over and over by different lenders - Many people will, because of their difficulty in getting approved, apply with many different brokers and have the broker pull their credit over and over. Every time your credit is pulled, your score will drop just a few points. In some situations, it can be enough to disqualify you from the loan. The best way to go is to apply with companies online that will give you a pre-approval without pulling your credit, but instead, ask you what your credit is like.

2. Don't Open Too Many New Credit Accounts - If a lender sees that you have a lot of new accounts open it can make them wary to want to lend you money. It can also raise your debt to income ratio, which will make it difficult, if not impossible, to get approved.

3. Don't Be Late On Your Current Payments - Some people feel that since their credit score is already poor, it doesn't make any difference whether or not they make their payments on time now. That is not the case, your credit score improves a little, everytime you make your monthly payments on time.

To view our list of bad credit mortgage lenders online, most of which do not pull your credit with the initial application, visit this page: http ://www.abcloanguide.com/lessthanperfectcredit.shtml .

About the author: Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

Best Buy to Let Mortgage Calculators

Author: Jennifer Tweed

It would be easy to start saying just how easy it is to become a landlord and earn income from UK investment property and how you can simply sit back and watch the profit tumble in like a cascading waterfall. The reality is that there are a number of key issues that you will have to be involved in to ensure your investment property portfolio works to its optimum. With tenants to source and vet, an investment property to maintain, buy to let mortgages to arrange, letting agents to manage and accounts to monitor, it does take a certain level of commitment. So if you are still keen to have a slice of the much talked about property game then you will want to read on to find out how to get started?

Firstly, you need to establish if this is the right time for you to become a landlord and how much it is going to cost you. Can you afford to tie up money in a property? If the worst comes to the worst, can you afford to lose that money?

The simplest way to work out the repayments on a buy to let mortgage is to use an on-line buy to let mortgage calculator . These can help you work out the best buy to let mortgage product for the type of UK investment property you are considering and your individual circumstances. You will need to know the likely rent that can be achieved for the property as this will determine the maximum loan amount available against the purchase price or refinancing value of the buy to let property. Lenders normally suggest that the rental income each month represents at least 130 per cent of the monthly mortgage payment. Although there are some buy to let products calculated on ratios of as little as 115%. By working on these calculations, gives the investor a margin to cover the letting agent's fees and other associated costs.

This is a long-term investment and you need to take the same approach to investing money into a house or flat as you would to buying into the stock market. Historically the value of properties have doubled every 10-15 years but that doesn't mean to say that there won't be peaks and troughs in between. These are times that you have to be prepared and most importantly can afford to ride through.

Increasing your returns by using buy to let finance to your advantage

For example, lets say you have £100,000 cash to invest into Investment Property. Is it best to buy a property outright or use this money as deposits on multiple buy to let properties?

Mr Jones - decides to use his £100,000 to purchase a brand new property outright for cash. He lets the property for £600 per month giving a return of £7,200 per annum. Due to inflation, the rent will increase accordingly and eventually, after fluctuations in the property market, the house doubles in value.

Mr Smith - decides to use £100,000 as deposits (15% for each investment property) to buy £500,000 worth of properties similar to the one Mr Jones bought. This results in Mr Smith receiving five times as much rental income, i.e. £3,000 per month or £36,000 per annum. The other £400,000 is borrowed on buy to let mortgages and Mr Smith pays interest on this at a rate of approximately 5%. These monthly interest only repayments would work out to be £20,000 per annum. Therefore, net of interest they receive £16,000 per annum. Mr Smith is already better off than Mr Jones..... but what happens in years to come? Well it is probably safe to say that Mr Jones's rental income will rise with inflation as per Mr Smith. However, Mr Smith's buy to let mortgage costs remain the same. Therefore, the gap between Mr Jones and Mr Smith's rental income will continue to widen as time goes on. And finally after 10-15 years when property could have doubled again. Mr Jones would have made a capital gain of £100,000 and have £200,000 worth of investment property. Whereas, Mr Smith would have made £500,000, which is five times as much capital gain!!

The most successful landlords will use some of the best buy to let mortages to fund their buy to lets and with buy to let mortgage products becoming more sophisticated and competitive the right buy to let financing can ensure you maintain your investment property portfolios in such a way that you are always working to the most optimum cashflow situation.

Best Buy to Let Mortgages

Finding the best buy to let mortgage is crucial to your success as a property investor. Unlike other forms of investment, a lot of the money you put into a buy to let property is likely to be borrowed. Over the last few years, the buy to let mortgage market has boomed, and borrowing money to invest in this way has become easier than ever. There are a number of different buy to let mortgage products available from fixed rates, discounted variable rates, discounted rates and so on. Different products may be suitable for different investment properties. And don't be tempted to just go for the cheapest buy to let mortgage as there may be penalties that make it less attractive in the long term.

Always find out the best buy to let mortgage deals available at the time. Some investors may decide to retain their entire portfolio with one lender, but it's important to realize that different buy to let products between different lenders can provide you with maximum flexibility and cashlow depending on how you structure your funding.

However it is very important that you get the correct guidance with your buy to let finance. You will often find that buy to let mortgage brokers have access to numerous different products and lenders and some can even offer exclusive products that wouldn't necessarily be available to you if you approached the buy to let lender directly.

Questions that are worth considering when finding the best buy to let mortgage:

1. Do they have access to lots of different products in the market place? 2. Do they have the ability to create a long term property development strategy for you? 3. Are they able to secure Exclusive Products? 4. Are they able to arrange mortgages within 10 working days? Most buy to let lenders will offer a maximum loan of 85% requiring you to fund at least a 15% deposit towards your UK investment property. The buy to let mortgage industry is very competitive with new products being launched on a very regular basis.

Some buy to let mortgage brokers may charge a brokerage fee up to 2% to arrange the buy to let finance for you but don't let this put you off because if they do have the ability to secure exclusive products for you, it could be very beneficial to your cashflow as a landlord. Plus, if they are able to reach formal mortgage offer stage in a very short space of time, this could result in you being able to secure the investment property at very competitive prices if you have the ability to tell the vendor that you can have the deal completed within a matter of a few weeks.

How much you can borrow for the buy to let property will usually be worked out differently to how much you can borrow to buy your main home. Different lenders and different products carry different criteria for working out the maximum loans available. Some will lend on how much you earn, others on the rental income you achieve from the investment property. And sometimes a combination of the two.

How much rent will you make?

Before you agree on the purchase price of a buy to let property, it is important to find out from local letting agents, what the likely rent could be. They should be able to let you know which types of property are in highest demand and which areas are the most sought after for tenants. If you need to find out whether your potential buy to let is looking like a good investment, ask your broker/lender to work out the yield (ie the money you are investing and the rental income you will receive) on the property against what your repayments are likely to be. I you are investing in an up and coming area, it could still be a viable investment despite the figures not looking too healthy today. If you believe that the area will be having a lot of other investment or new businesses moving in, then there is the possibility that the surrounding property market will have a positive knock on effect. When the valuation is carried out on the property, the surveyor who visits the property will also be expected to give an assessment of the expected rent as well as the value of the property.

A local letting agent is the best person to approach for this kind of information - especially if you hint that you might let them be the property's management agent.

About the author: Jennifer Tweed is the founder of buytolet4sale.com, one of the UK's first property portals dedicated to all types of investment property for sale and everything you should need for your sale and purchase. Learn more about buy to let

Ever Heard About Mortgage Revenue Bonds?

Author: Jeff Little

Checking out your Check Book: When a first home purchase isn't quite within your grasp

Checking out that balance in the checking account again? Barely got enough to save after paying bills, buying groceries and putting gas in the car? Understandable. But, you ask, ""How am I ever going to afford a house of my own?""

That is the ultimate question for many potential home owners. They live in a vicious cycle of trying to save money for a down payment while being vigilant in paying bills on time to keep a good credit rating, only to find their dream home is never quite within their reach.

Mortgage Revenue Bonds

Have you not heard about MRB - Mortgage Revenue Bonds? It's the ONLY federal government program that is available low-income, first-time home buyers.

Oh, I can hear you now: ""But I'm not really low income."" Well, surprisingly, you really don't need to be dead broke to reap the benefits of this program.

I see your ears perking up. ""Tell me more,"" you say. To qualify for this aid, you can earn as much as 115% of the median family income for your area (that figure is based on the fact that your family includes you and two dependents). You can call your state Housing Finance Agency to discover the median family income for your area. The second criterion is that the house you purchase is your principal residence (a second vacation home obviously doesn't qualify) and whose cost does not exceed 90% of the average cost of a home in your area.

Hey, wait before you run around checking this program, check out

http://www.a-real-estate-guide.com where you'll find an abundance of information for home buyers (home sellers and anyone interested in investing in real estate). This free, informative resource is dedicated to providing you the tools to educate yourself in both buying and selling your home.

http://www.a-real-estate-guide.com A Real Estate Guide.com receives current news articles daily on a variety of topics of interest to home buyers. It also contains a variety of mortgage calculators, so you can decide if you can afford that house payment and the accompanying extra expenses of home ownership.

Before you make another move towards home ownership, you need to arm yourself with all the vital information available to you for free at http://www.a-real-estate-guide.com . Happy house hunting!

Jeff Little...

http://www.a-real-estate-guide.com

About the author: Jeff Little is an accomplished real estate investor offering free advice for on his website

http://www.a-real-estate-guide.com regarding residential buying and selling, including For Sale by Owner. Also included is new 42 page FSBO manual, for those interested in handling the sales process themselves. Visit Today!