Archive for the ‘Home Loan Rates’ Category
The Traps of a Fixed Rate Home Loan
April 19th, 2011
Home loan lenders can provide a wealth of facilities to meet the needs of borrowers. One of the most popular home loan options is the fixed rate home loan. It carries many advantages; the most notable that of an interest rate that is locked in for a predetermined amount of time.
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Three Reasons to Refinance a Mortgage
April 8th, 2011
With economic uncertainty at an all-time high, and homeowners being subject to some of the highest mortgage interest rates in history, it is not surprising that many are choosing to refinance their current mortgage.
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The Advantages and Disadvantages of Interest-Only Mortgages
April 4th, 2011
With a traditional home loan the mortgage holder is required to pay interest and some of the principal with each monthly payment. Interest-only mortgages eliminate the need to pay some of the principal during the introductory period, thereby lowering monthly mortgage payments. For example, a $100,000 traditional mortgage loan with an interest rate of 4.75% would cause the monthly mortgage payment to be about $525, which includes interest and principal.
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The Advantages and Disadvantages of Adjustable-Rate Mortgages
March 30th, 2011
An adjustable-rate mortgage, also commonly referred to as an ARM, is one of the most popular mortgage types available in the home loan sector today. Unlike conventional mortgages, adjustable-rate mortgages have interest rates which fluctuate depending on the current market rates. The frequency at which the rate is subject to fluctuate and the maximum interest rate increases that can occur are determined by the specific loan conditions, which are unique to each mortgage.
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How to Afford an Increase in Home Loan Repayments
March 15th, 2011
When interest rates rise on a home loan, they may increase to the point that the home owner and their family must take stock of their financial situation. By reviewing their daily, weekly and monthly expenses and undergoing a few simple changes, home owners and their loved ones may be able to cover the higher interest rates without fear of losing the necessities of life or their home.
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