Home Mortgage

Allied Home Mortgage Section


 

Allied Home Mortgage Navigation


|

Stress and Anxiety Guide Home Page
Tell A Friend about us
Interest Only Home Mortgage Loans |
Current Interest Rates On Home Mortgage |
Home Equity Improvement Amp Home Mortgage Loan Quotes Rates |
Refinance Home Mortgage Home Equity Loan Bad Credit |
Loan Bids Home Mortgage Loans Refinance In Lon |
Current Home Mortgage Interest Rates Md |
Wells Fargo Home Mortgage Brokers |
Bad Credit Home Mortgage Lender |
Refinancing Home Mortgage Loans |
Ohio Home Mortgage |
Loan Calculators Calculating Home Mortgage Rates |
Interest Rates Home Mortgage In Britain |
Home Mortgage Rates Refinance |
Refinance Home Mortgage Fixed Interest Rate |
Colorado Home Mortgage Refinance |

List of home-mortgage Articles
Sitemap



Social bookmarking
You like it? Share it!
socialize it


Main Allied Home Mortgage sponsors


 

Newest Best Sellers


 

Welcome to Home Mortgage

 

Allied Home Mortgage Article

Thumbnail example. For a permanent link to this article, or to bookmark it for further reading, click here.


You may also listen to this article by using the following controls.

Part I: Learn About your Home Mortgage Options

from: Mark Mathis





A mortgage is a long-term loan that uses real estate as collateral. A mortgage loan is commonly used for buying a home. Mortgage loans are usually fully amortizing, which means that the monthly principal and interest payment will pay off the loan in the number of payments stipulated on the note. Mortgage loans are also described by the length of time for repayment, such as 15 or 30 years, and whether the interest rate is fixed or adjustable. A mortgage loan where the downpayment is less than 20% usually requires private mortgage insurance (PMI) or government insurance or guarantee.



Most mortgage loans require monthly payments of principal and interest plus additional payments that are set-aside in escrow accounts to pay property taxes and homeowners insurance. In addition, loans with PMI or government mortgage insurance may require payment of a monthly mortgage insurance premium as part of the regular monthly payment.



Some lenders offer bi-weekly mortgages, which call for 26 payments per year. The details of bi-weekly mortgages can differ, so it's best to ask the lender to outline the details of how these programs work.



Homebuyers who can afford the higher monthly payment sometimes prefer a 15-year mortgage to a 30-year mortgage. Interest rates on 15-year mortgages usually are slightly lower than 30-year rates. In addition, a homebuyer financing a home purchase with a 15-year mortgage will repay principal substantially faster and will pay far less total interest over the term of the loan.






About the author:


Mark Mathis is a building designer and publisher of several stock house plan websites and informational resources including http://www.HousePlanCentral.com,
http://www.HousePlanGallery.com, and http://www.moneytalks-bswalks.com. Be sure to visit each site and subscribe to our eNewsletters to receive special offers, promotions, and subscriber-only features.











 

Allied Home Mortgage News