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Home Loans and Mortgages – Beware of Deed Theft Scam
The average home in the United States has a value of $206,000, a record amount. Real estate prices have been rising throughout the country during the last five years, and homeowners have seen the value of their property skyrocket. In California...

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

Homeowners’ insurance: The mortgage connection
A home owners’ insurance is the cover for the house against natural calamities as well as liability. This covers the house and its contents but also other personal possessions which the house secures. The natural calamities include fires and winds....

Subprime Mortgage Lenders - Sub-Prime Loans Now Available Through Traditional Lenders
Sub-prime loans are becoming more readily available through traditional lenders. Even with a bankruptcy or foreclose in your credit history, you can still find financing for the purchase of your home. The key to sub-prime mortgages is to do your...

Using a Business Mortgage to Grow your Business
So you want to be a Player? The real movers and shakers of America are always looking to move up the ladder of success. They also have a particular penchant for desiring to display their success through their purchasing power. You may...

 
Do You Know the Pros and Cons of Interest Only Mortgage?

Has any lender ever told you the Interest Only Mortgage was like a double-edged sword? It can help you achieve your dream of owning a home more easily, but it also can create a financial hardship for those who don’t fully understand what’s involved.

In the attempt to lure potential homebuyers, the lenders have come up with various creative mortgage options. One of the more popular offers is the Interest Only Mortgage. As the name implies, with Interest Only Mortgage, the monthly payment will be applied to the interest portion only. In a traditional mortgage option, the monthly payment applies to both interest and principal, even though, in the early years, interest portion is much more than the amount paid to the principal.

Interest Only Mortgage has become more popular to new homebuyers for the following reasons:
· Since the monthly payment is low, the savings can be used for personal spending, paying off higher


interest debts, buying furniture for the new house, or even investing.
· The interest paid to the Interest Only Mortgage is still eligible for tax write-off at the end of the year.
· Some Interest Only Mortgages allow you to make a principal payment during the interest only period. This helps reduce your balance the following month which lowers your payment further.

However, Interest Only Mortgage is not for everyone.
· Beware a potential prepayment penalty for the first 1-3 years imposed by some lenders.
· You have to play the “catch up game” once you begin to pay the principal. The amount is much more since you didn’t pay during the interest only payment years.
· Think twice before committing to an Interest Only Mortgage if it’s the only way for you to afford a house.

About the Author

How to pay off your mortgage in 10 years or less and build lots of equity from your home?
www.1a-refinance-home.com

 

E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ...
E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online.
www.eloan.com
 
LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance
Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online.
www.lendingtree.com
 
Calculators - Refinance Calculator
1, CURRENT MORTGAGE. My monthly payment is: $. My current interest rate is %. I have years and months left on this mortgage. ...
cgi.money.cnn.com
 
Refinance | Mortgage Loans | Home Equity Loans
Join over 3 million homeowners who have used GetSmart, a service of LendingTree, to find a better mortgage, refinance, home equity, or debt consolidation ...
www.getsmart.com
 
Mortgage Refinance - Debt Consolidation Loan - Mortgage Loans ...
iMortgage Central is a borrower's marketplace that provides the consumer a connection with mortgage lenders that match them to their individual needs.
www.imortgagecentral.com
 
Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans
Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI.
www.quickenloans.com
 
Mortgage Refinance Calculators and Mortgage Tools - Quicken Loans
Mortgage refinance calculators from Quicken Loans allow you to calculate your mortgage payments for a variety of refinance loans, home loans, ...
www.quickenloans.com
 
Mortgage Refinance Calculator
Mortgage Refinance Calculator. As those interest rates drop, it's often difficult to know when it's to your advantage to refinance your fixed-rate mortgage. ...
www.aba.com
 
Mortgage Refinance Costs
Mortgage Refinance Costs. When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you again pay ...
www.mortgage101.com
 
Bad Credit Mortgage Refinance,Bad Credit Home Loans,California ...
Bad credit home loans,California mortgages,Debt Consolidation Home Loans, Refinance Home Loans, Refinance Mortgage Interest Rates,Second Mortgage solutions ...
www.alliancemtg.com
 
Directory: mortgage refinance
Internet Access · Online Education · Insurance Quote · Arts · Domain Name · Nutrition · Computer Hardware · Television · Home Mortgage Refinance ...
shurl.org
 
Mortgage Refinance Home Loan - Homeloancenter.com
Our Mortgage Refinance Home Loans allow you to get cash out with a Low mortgage Rates from the leading online lender. Bad Credit Loans are ok.
https:
 
Mortgage | Refinance | Home Equity | Home Loans | Mortgage ...
This era has been marked as the mortgage refinance era. ... Call Us Today For A Free Quote On Your Mortgage Refinance, Home Equity Loan, Debt Consolidation ...
www.lendance.com
 
Mortgage Refinance & Credit Card Rates
Mortgage Refinance · Home Purchase Loan · Home Equity Loan · Debt Consolidation · First Time Home Buyer · Refinance->Cash Out · Lower Payment ...
www.fetcharate.com
 
Home Loan Center - Home Equity Loans | Mortgage Refinance | Bad ...
The leading online lender for home loans, home equity loans, mortgage refinance and bad credit loans. We are approved in all 50 states.
www.homeloancenter.com
 
Mortgage Refinance Options : Cut Your Rates with a Loan Refinance
Get Free No-Risk, No-Obligation quotes for your Refinance from up to 4 lenders.
www.mortgageloanplace.com
 
Wells Fargo Home Mortgage - Refinancing
Wells Fargo Home Mortgage can help you customize a refinance that supports your unique financial goals.
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Mortgage Refinance, Health, Auto, Life Insurance Quote
Online marketplace to refinance and save on your mortgage. Receive up to 4 offers. Save money with GoApply.com for all of your financial needs such as ...
www.goapply.com
 
Mortgage Refinance
Apply for a mortgage refinance today with us! We work with the nation's largest network of recognized mortgage lenders to bring you the best deals on a ...
www.wilsondaily.com
 
What is a Mortgage Refinance
A mortgage refinance refers to applying for another mortgage to replace an existing mortgage on the property. There are many reasons why borrowers decide to ...
www.nextag.com
 
 

 

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