Welcome to Mortgage Loans Guide
Jumbo Mortgage Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Different Kinds of Mortgage Loans
from: Mortage & Debt FactsA lot of people often take out mortgage loans to help them pay for houses that they wish to own. While the primary use of a mortgage loan is indeed to help with the payment of a house, there are other reasons why people take out these loans.
There are a few distinct types of mortgage loans for different uses, needs and situations. Here are some of the more common types of mortgage loans and what you can expect of them.
Fixed Rate Mortgages
This is the most common among mortgage loans available to borrowers. With this kind of mortgage, the lender and the borrower will agree on a fixed monthly rate, interest included, which is to be paid over a certain period of time.
The advantage of choosing this kind of mortgage loan is that you don't have to worry about fluctuating interest rates and the rise and fall of the real estate market. However, some people do not find this kind of mortgage loan appealing, because the interest rate is usually pretty high compared to other types of mortgage loans.
Another concern that people have with this kind of mortgage is that they cannot benefit from falling interest rates because the rate is fixed. Fixed rate mortgage loans are ideal for those who do not wish to go through the hassle of having to compute their payments every month.
Adjustable Rate Mortgage or ARM
When you talk about Adjustable Rate Mortgage, you are essentially talking about mortgage loans that rise and fall with the real estate market.
This kind of mortgage loan can be beneficial to the borrower when interest rates fall, but it can also be a problem if the real estate situation in your area show signs of going up. Adjustable rate mortgage loans are a good option for those who are living in areas that are showing decline in interest rates, as well as those who are seeing a rise in their incomes. One reason why people choose this kind of loan is because the initial interest rate is usually lower compared to other types of mortgage loans.
Balloon Mortgage
The term “balloon” refers to a large amount of payment that is made towards a mortgage loan. The balloon mortgage loan is the ideal option if you want to shorten the repayment period for your loan. This type of loan actually works like a fixed rate loan in the beginning, but it requires you to pay off the balance in a large sum at the end of the loan term.
Jumbo Mortgage Loans Specific links
Jumbo Mortgage Loans News
Look Before You Leap Into Jumbo ARMs - Fox Business
 Best Syndication | Look Before You Leap Into Jumbo ARMs Fox Business But when getting a jumbo mortgage, that long-term safety means much higher monthly payments than an adjustable-rate mortgage would offer. Borrowers who need jumbo loans can save hundreds of dollars a month by choosing adjustable-rate mortgages, ... Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales MBA Weekly Survey: Refinance Applications Increase Because of Record Low ... HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again |
Bankrate: Mortgage Rates Hold at Record Lows - MarketWatch (press release)
Bankrate: Mortgage Rates Hold at Record Lows MarketWatch (press release) To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/ . The average 15-year fixed mortgage rate inched lower to a new record of 3.19 percent while the jumbo 30-year fixed mortgage remained at the record low of 4.52 percent ... |
Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... - World Property Channel
 World News Resource | Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... World Property Channel According to the Mortgage Bankers Association's (MBA) latest Weekly Mortgage Applications Survey for the week ending May 18, 2012, mortgage applications increased 3.8 percent from one week earlier. The Market Composite Index, a measure of mortgage loan ... Best Home Purchase Mortgage Rates Today: US Bank Still Going Strong |
Jumbo Mortgages Offer Low Rates, Strict Terms - Fox Business
 The Star-Ledger - NJ.com | Jumbo Mortgages Offer Low Rates, Strict Terms Fox Business By Polyana da Costa Borrowers who need large home loans will find an increasing number of lenders willing to offer jumbo mortgages. They'll also find low rates. But the qualification requirements remain stringent. Jumbo mortgages are home loans that ... High End Property Buyers Compare Jumbo Mortgages Online Bankrate: Mortgage Rates Tumble to Another Record Low International City Mortgage Announces New Fannie Mae Direct Product |
EverBank Financial Corp. Announces First Quarter 2012 Financial Results - MarketWatch (press release)
EverBank Financial Corp. Announces First Quarter 2012 Financial Results MarketWatch (press release) Total loans and leases held for investment were $7.2 billion at March 31, 2012, up $0.8 billion, or 12%, from December 31, 2011. -- Loans and leases originated were $2.2 billion for the first quarter. -- Deposits were $10.6 billion at March 31, 2012, ... |