http://www.absoluterefinance.com Just another WordPress weblog Mon, 23 Feb 2009 21:59:07 +0000 http://backend.userland.com/rss092 en In most cases, the interest paid on mortgage loans is deductible from your federal income taxes. You may therefore want to make financing decisions on an after-tax basis, particularly when you are comparing a tax deductible mortgage loan to a consumer loan. To do so, you need to know your ... http://www.absoluterefinance.com/find-marginal-tax-rate.html Once you have settled on a lender and the type of loan you want, it is time to make a formal application. The time between application and approval of the loan may be two to eight weeks. This is a time of anxiety for many borrowers, especially if there is ... http://www.absoluterefinance.com/loan-application-process.html Many people do not think about mortgage financing until they enter into a contract to buy a home. In fact, most mortgage lenders will require you to have a signed purchase contract before you can apply for a loan. However, that does not preclude a bit of pre-arrangement on your ... http://www.absoluterefinance.com/pre-qualification.html The lender’s qualifying criteria determine how big a loan you can get. The lender will need to know if you can afford to make loan payments regularly based on your income and other financial obligations. There are several standard ratios used in loan qualifying depending on what type of loan ... http://www.absoluterefinance.com/loan-qualifying.html When you buy that first home, the financial hurdles can be formidable. You need enough income to qualify for a loan sufficient to buy the home. This means you need a steady income and established credit. You need cash for a down payment as well as for the expenses normally ... http://www.absoluterefinance.com/first-time-homebuyers.html A first lien loan is the mortgage placed on the home before any other loans are taken out. It is usually the loan you use to buy the home and may be the largest loan on the home. The lender of a first lien loan has first claim on the ... http://www.absoluterefinance.com/loan-sources.html When you shop for a loan, you should look at more than the interest rate alone. Mortgage loans usually require the payment of discount points in addition to the various fees associated with originating the loan. These points are additional interest paid at the time the loan is closed and ... http://www.absoluterefinance.com/interest-rates.html If you’ve been waiting to see when interest rates will bottom out before buying, you know how difficult that can be. When rates are falling, there’s a temptation to wait for a further decline before buying. But then rates can turn up sharply, and the opportunity may slip away. On ... http://www.absoluterefinance.com/loan-shopping.html Anytime you use borrowed money to make an investment, you are using leverage. In the case of buying a home, you probably have little choice other than to get a mortgage loan. Very few can afford to buy a home with all cash. However, even if you did ... http://www.absoluterefinance.com/leverage.html Even though most mortgage loans are originated for a term of 25 to 30 years, few borrowers keep the loan for more than 5 to 10 years. In many cases, mortgages are paid off when the home is sold. However, many home owners refinance their loans, and for many reasons. ... http://www.absoluterefinance.com/refinancing-mortgages.html