Found 42 blog entries tagged as mortgage.

When you have been researching your different options for a mortgage on your home, you might have heard of an “Interest Only Mortgage”. What exactly does this type of mortgage mean and how does it work?

Usually when you take out a loan, you must pay back the capital debt (the amount you borrowed) and the interest on that debt. An interest-only mortgage offers a cheaper option for purchasing a property, because you will only be making payments on the interest and not the capital. Compared to a repayment style mortgage where you are paying down the principle of the loan, an interest-only mortgage will have much lower monthly payments.

However, when you reach the end of the mortgage term with an interest-only mortgage, you will not have paid off any of…

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Buying a home can be a long drawn out and stressful process. It is so important to surround yourself with true professionals. Among these professionals are a real estate broker, an attorney, a home inspector and a mortgage broker.

Your first stop aside from maybe sitting with a real estate broker to make sure you feel comfortable and “hit it off” is to contact a mortgage broker to learn or verify your true buying power. Many naïve buyers look at homes first and then worry about buying power. Wrong! Aside from not wasting your time, seller’s time and real estate agents time, a buyer needs a pre qual from a reputable banking institution for various reasons:

• You need to know true buying power
• You need to know the monthly cost or expected budget
• If…

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