Mortgages for Over 55s – Still Possible?

Finance options can appear limited upon first glance to those aged over 50 years old, as some lenders can view an older applicant’s age as a high-risk factor and place restrictions on borrowing. However, there are specific products available on the market for the mature borrowers. This article will explore the financial options available for those over 50 years old, including the criteria that lenders will review during the application process. How Can I Obtain a Mort...

Buying Home Insurance Is Not Only A Mortgage Requirement; It’s Also The Smart Thing To Do

Homeowner insurance is an integral part of home ownership that you can't afford to ignore. In fact, it is doubtful that you'll be able to secure a mortgage deal on your property if you are not willing to purchase a minimum amount of insurance. Mortgage lenders understand that your house is standing collateral against the "loan" you took to purchase the property; hence, insurance is an important requirement. If fire razes down your home, you'll still have mortgage debt unpaid and the mortgage fir...

Mortgage Applications: Now Versus Then

Perhaps it’s been awhile since you last applied for a mortgage. If that’s the case, you’re going to be very surprised by the current lending environment. Much has changed since all that financial unpleasantness took place in the last decade – and all it took to totally revamp how money is loaned and borrowed was the near-collapse of the American economy. Just how different is it? Take a look: Mortgages are more basic Then: As the early 21st Century progressed, the types of mortgages one...

Warning: 10 Questions to Ask Before Making a Mortgage Refinancing Decision

So you’ve been paying for your dream home and you know you have enough money to purchase it, but you’re also considering mortgage refinancing and you’re not sure where to start and how it goes. Well, first, you need to know what you’re dealing with. Like in any other instance of financial decision-making, it is best to weigh the pros and cons first before taking the plunge, so to speak. One thing we’re all sure of is that you need to be certain that you don’t invest your life savings into a b...

5 Things to Consider When Thinking About Refinancing

Everyone can use that extra bit of cash flow that we believe will come from refinancing and reducing our monthly mortgage payment. But there are numerous factors you will need to consider before pulling the trigger on refinancing. What you might think is a good deal could actually have you paying more in the long run. Here, we’ll review five things you need to consider when deciding whether refinancing is right for you. What is the value of your home? Has the value of your home depreciat...

The Facts about Buy to Let Mortgages

Property development is big business these days and with pension funds and savings accounts performing at an all-time low, thousands of people are jumping on the buy to let bandwagon in an attempt to boost their savings or create a decent retirement income. But if you are new to the buy to let rental market, what is the difference between a regular residential mortgage and a buy to let mortgage? Becoming a Landlord People end up as landlords for all kinds of different reasons. Some see the...

Getting a Mortgage or Paying Cash

What Every Prospective Homebuyer Should Consider For most people, buying a home means going into debt to finance the purchase. However, if you're fortunate enough to have the option to pay cash to buy a home, it's wise to fully consider your options before taking the plunge. Just because you may have enough money to avoid taking out a mortgage, that doesn't necessarily mean it's the right move. It's important to understand and carefully weigh the pros and cons of paying cash versus getting...

Equity Release – Securing Future Sustaining Finance

A favorable option with the retired professionals, equity release is said to hold high importance and significance in foreign countries. With the right plan of releasing equity for your home, you can enjoy double benefits contemplating to both obtaining a certain amount equating to the capital value of the house and retaining the use of your houses for as long as you wish to until your death. Equity Release – Definition Equity release in simple terms can refer to the concept of obtaining a...

5 Tactics to Pay Off Your Mortgage Faster

There is no secret to paying off your mortgage faster; while you may be disappointed to learn this, it is actually a good thing because you don’t have to follow a strange budget or download any special account keeping software to own your home sooner. Instead, you can use these five simple tactics which almost anyone can achieve, regardless of their loan size, their lender or their property goals. 1 – Understand how your mortgage repayments work You can’t beat a system if you don’t unders...

These Popular Mortgage Loans Are Better Than Renting Forever

Having a house to live in is a long held dream for individuals, newly-wed couples or families, and that's why after much deliberation with their financial budgets, many consider owning their homes rather than go on renting. With the high cost of owning real estate properties, many people are now turning to many popular mortgage loan options as a way of acquiring their homes. So the first step for people wanting to buy a property is to sit down and determine the place or neighborhood that t...