Financing a Home

More in Financing a Home

How Can I Get My Mortgage Interest Reduced?

As you pay off your home mortgage loan, a portion of your monthly payments goes toward interest. A high interest rate on your mortgage means less of your payments goes toward paying off your loan principal. If you want to pay less mortgage interest, you can reduce the interest ...

Does It Make a Difference Who Is the Buyer or Co-Buyer for Financing?

It seldom makes a difference who the buyer or co-buyer is when you finance a home, but you might still face some challenges with lenders. If both you and the co-buyer will occupy the home, signing the mortgage and the loan note, you should have no problems. If the co-buyer will ...

What Happens to an Outstanding Escrow Balance?

Escrow is by definition a financial medium – such as a bank account -- administered by a third party on behalf of two other parties. While not unique to the mortgage industry, mortgage escrow accounts are one of the most common examples of this term. It is not the responsibility ...

What Is a Lease Option for Owner Financing?

Potential homebuyers unable to obtain a traditional mortgage may have the option of negotiating an owner-financed purchase. The lease option is one type of owner financing that might be available to the hopeful homebuyer. Lease options allow the purchaser to lease a property ...

What Can the Seller Pay on a FHA Loan?

An FHA mortgage is a loan insured by the Federal Housing Administration. FHA loans have lower down payment and minimum credit score requirements than standard mortgages. However, like most mortgages, an FHA home loan involves closing costs, which can create an added burden when ...

Is it Wise or Smart to Refinance With the Same Company or Bank?

Refinancing your mortgage loan is a perfect way to reduce your current mortgage rate and save money each month. A refinanced mortgage creates a new home loan with new terms. You can extend the length of your mortgage, reduce the length of your mortgage or apply for a different ...

How to Get Your Name Off a Mortgage That You Cosigned For

If a mortgage lender denies your child or family member's mortgage application, you might step in as cosigner on the loan. A cosigner agrees to pay another person's debt in the event of default. Your name might not appear on the title, but it appears on the loan. Becoming a ...

Can I Get a Home Improvement Loan With an Owner-Financed House?

When faced with stringent underwriting criteria used by many major lending institutions, some borrowers turn to owner-financing for real estate purchases. In this arrangement, the seller releasing the home provides the funds necessary for the new homeowner to purchase the house. ...

Pros & Cons of Selling a Home on a Land Contract

A land contract, also known as a contract for deed, is an arrangement in which you finance the buyer's purchase yourself instead of having the buyer rely on a third-party lender. In addition, you keep legal title to the property until the buyer pays the final installment. Land ...

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