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Home Mortgage Refinance Loan Article
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Fun with Mortgage Calculators
from: Mortage & Debt FactsDreaming of buying a home now that the prices have dropped? Why not have a little fun with some online mortgage calculators? They help you to dream in a realistic way by giving you the hard facts about the numbers involved in your home mortgage dreams. There are a number of online mortgage calculators that can help you look at a fixed rate or a variable rate mortgage option.
Fixed Rate Mortgage Calculators
These are the simplest forms of mortgages to calculate. They come with a fixed interest payment that is for the life of the loan. You can estimated the interest payment very closely to what the present rates are on mortgage loans.
You can add in the down payment that you are choosing to make to get the loan (which will have to be between 10 and 20% to qualify these days). The mortgage calculators will also ask for the term of the loan. Fifteen and 30-year loans are pretty common mortgage products, but you can now get one for 40 years too.
The mortgage calculators will crunch the numbers and give you an amortized table of your payments. If you are not asked for an estimate of hazard insurance or property tax escrow payments, then the value you see might be smaller than the value you get at closing. If you want a closer estimate, be sure to find out what you hazard insurance and escrow payments might be for the house you are considering buying.
Adjustable Rate Mortgage Calculators
Years ago these mortgage calculators weren’t very common. Now, even people who are just looking to see how much more their payments will be with an adjustable rate mortgage they bought earlier might like these nice applications.
The adjustable rate mortgage calculators add in additional information that can help you see how much a mortgage changes with an adjustment of the interest rate after the initial period is over. Keep in mind that the number of adjustable rate mortgage products are numerous and they all have their little intricacies. You may be able to get a reasonable picture of what happens when your mortgage rate adjusts, but it might not be suitable for the particular mortgage you choose. It might only work for one adjustment, whereas ARMs can adjust yearly at times.
Always look at the good faith estimate to understand more about what your actual costs are for an adjustable rate mortgage and take a close look at the amortization table to see how your payments adjust over the years.
Home Mortgage Refinance Loan Specific links
Home Mortgage Refinance Loan News
Freddie Mac: 30-year mortgage rate down a tick at 3.78% - Los Angeles Times
 e-wisdom.com | Freddie Mac: 30-year mortgage rate down a tick at 3.78% Los Angeles Times Reflecting the bargain home-loan rates, the Mortgage Bankers Assn. on Thursday increased its mortgage origination forecast for 2012 by almost $200 billion — but attributed the greater volume entirely to an increase in borrowers refinancing existing ... Realtors(R) Offer Support for Bill to Help Responsible Homeowners Refinance Refinancing homeowners overwhelmingly choose fixed loans 30-year mortgage rate hits another record low |
Mortgage Q&A: Borrowers hit by mess others made - Washington Times
 Washington Times | Mortgage Q&A: Borrowers hit by mess others made Washington Times The Home Affordable Refinance Program (HARP), initiated a couple of years ago, was designed to help folks with good credit and an evident ability to repay their loans. They were unable to refinance to a lower rate, however, because their property ... Don't HARP on it, refinance program too good to pass up |
Mortgage applications up on refi demand: MBA - Reuters
 New Zealand Herald | Mortgage applications up on refi demand: MBA Reuters The MBA's seasonally adjusted index of refinancing applications gained 5.6 percent, but the gauge of loan requests for home purchases fell for the second week in a row and was down 3.0 percent. Mortgage rates fell as further uncertainty around the ... Time to Refinance While Mortgage Rates are So Low MBA Weekly Survey: Refinance Applications Increase Because of Record Low ... Refinancing Up as Rates Keep Falling |
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... - MarketWatch (press release)
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... MarketWatch (press release) With Adjustable Rate Mortgages (ARM) representing only about 7% of new loan originations in the market, many consumers are seemingly unaware that these adjustable rate loans are worth a second look. As refinance volume has increased year over year, ... |
Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... - World Property Channel
 e-wisdom.com | Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... World Property Channel "Mortgage rates again dipped to new record lows in the survey, which spurred more borrowers back into the refinance market. As a result, applications for refinance loans have increased for the third straight week and are at the highest level since ... Bankrate: Mortgage Rates Hold at Record Lows Current Mortgage Rates: SunTrust, TD Bank and US Bank Home Purchase Rates for ... Mortgage rates drop to new record lows, mortgage activity jumps |