Comments on: The Basics of Home Financing: A Mortgage Loan Guide

By: Bargain Homes In Detroit: Mansions For A Song

Bargain Homes In Detroit: Mansions For A Song — Sun, 12 Apr 2009 17:52:36 +0000

[...] fixer upper but it has a great foundation. But think about it — if a buyer puts down 20% for home financing, they’ll pay under $450 a month for a 30 year fixed rate mortgage, plus only $1,320 a year in [...]

By: Can A Housing Assistance Program Prevent Foreclosure?

Can A Housing Assistance Program Prevent Foreclosure? — Wed, 07 Jan 2009 03:48:35 +0000

[...] for Homeowners is an FHA program designed to help homeowners get out of mortgage loans they cannot afford to pay. Find out more about this program here and [...]

By: Stacey

Stacey — Fri, 10 Oct 2008 20:42:23 +0000

Thank you for your comment John. It's such a useful topic, so we will be addressing it in a blog entry at the Smarter Wallet soon. For more info right away, check out the link at the FHA website which you can reach using this link.

By: Peter Andrew

Peter Andrew — Mon, 06 Oct 2008 09:15:53 +0000

Thanks for the mortgage information!

By: Sunday Money Madness: Money and Frugalness | Rich Credit Debt Loan

Sunday Money Madness: Money and Frugalness | Rich Credit Debt Loan — Sun, 05 Oct 2008 13:54:22 +0000

[...] The Smarter Wallet looks into the basics of home financing: a mortgage loan guide [...]

By: John

John — Sat, 04 Oct 2008 11:15:27 +0000

Thanks for the mortgage info, tips and links. Do you have any info on the gov’t help program? I think called hope now? This site mentions there is one, but doesn’t have the details. http://www.needhelppayingbills.com Thanks in advance.

By: Max Ray

Max Ray — Sat, 04 Oct 2008 02:54:20 +0000

A mortgage itself is a loan that a person takes out in the process of buying a home. As a mortgage broker I can say that a mortgage loan can have a fixed rate, an adjustable rate, or a combination of the two. let me tell you what a fixed mortgage loan. A fixed rate mortgage loan means that the rate is the same for the entire term of the mortgage loan. An adjustable rate mortgage means that the rate could change over the life of the loan, causing the payment to change. Do u know that a fixed rate mortgage loans typically have terms of 15, 20, and 30 years. Adjustable rate mortgage loans typically have terms of 30 years, but only a part of that term is fixed, say perhaps, 2, 3, or 5 years. A mortgage loan can be used under these circumstances by anyone buying or refinancing: a primary residence, a second home and an investment (rental) property, also known as non-owner occupied.