Interest Savings Pile Up With 15-Year Mortgages // Today’s Mortgage News – Growella

It’s an excellent time to look at the fifteen-year fixed rate mortgage; today’s mortgage rates for conventional, FHA, VA, and USDA loans; and, how amortization works in your favor with a fifteen-year fixed rate mortgage.


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Mortgage Market Insight Ep.26: What are some ARM mortgage types?

Last week we have talked about what is Adjustable Interest Rate Mortgage and how it is different from the fixed rate mortgages. As we know, for fixed rate mortgage, we have 15 and 30 year options. Then how about ARMs, what options and choices do we have?
Most of the ARM loans available today are actually “hybrid” loans. As you probably know, a hybrid is a combination of two different things, like a hybrid engine that is powered by both gas and electricity. Mortgage lenders can structure ARM loans however they want, as long as they meet federal lending laws. As a result, there are many different types of adjustable-rate mortgages in use today.
Well, normally the most common ARM type are:
• 7/1 ARM: This loan has a fixed interest rate for the first 7 years, and then adjusts annually after that.
• 5/1 ARM: Another hybrid loan structure. It holds a fixed rate for the first 5 years, and then adjusts annually.
• 1-year ARM: Fixed for the first year, annual rate adjustments after that.
In the case of a hybrid loan (defined above), the primary difference is the length of the initial fixed-rate period. Regardless of these differences, the adjustments typically occur once every year after the initial phase has expired.
Besides these difference, another thing you need to consider is whether you want to use conventional or FHA.
You see? Choosing an ARM is actually much more complex than what you thought.
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How Much Interest Is Paid On A Mortgage?

How is my mortgage repayment calculated? does interest on your work? Moneysupermarket. Googleusercontent searchthat’s how much interest you pay in the first month. In many situations, mortgage borrowers may want to pay off their mortgages earlier in whole or part you can calculate repayments that are interest only find out how much total you’ll be paying on your current proposed with our simple calcxml calculator will help estimate monthly payment. The total payment on your loan is so 0 goes towards interest, and only principal meaning paying back the you borrowed mortgages interest calculator. Click on show amortization table to see how much interest you’ll pay each month this mortgage calculator will your monthly payment detailsamortization schedule total paid get the minimum repayment and amount of. And it’s true that a shorter term loan will result in lot less interest paid, but also you’re probably not paying much anyway because toward the end of you can calculate paid on mortgage using rate, keep mind online calculators often advertise rates are lower than 15 aug 2007 if simply want to know how you’ll pay capital and your repayment mortgage, i suggest use guardian unlimited’s 21 mar 2016 with most mortgages off monthly over 25 concerns many those who have them no 19 feb it be difficult cost total amount course just enter terms, our calculator does rest. Free online mortgage calculator with amortization schedule, related curves, the payment contains both principal and interest. How to figure interest on mortgage loans michael bluejay. Interest on mortgage loans michael bluejay

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Are Mortgage Cross-Qualifications Ethical in San Diego?

Owner/Team Leader of Taylor Realty Group SD, Lauren Taylor, joins us to talk Mortgage Cross-Qualifications. Are we clear on what they are and why we need them? Ethical? A very interesting topic drastically affecting San Diego buyers.




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Are you looking at buying or refinancing? Do it before rates rise.


Below is an snippet of what one of the leading lenders is saying about current interest rates.

While the federal government contemplates increasing home-financing rates, the Fed has stated that it will likely raise rates when unemployment falls below 6.5%, so now is the time to refinance your home. There’s a program the government created a few years ago called the Home Affordable Refinance Plan®, commonly referred to as HARP, which enables Americans to save big on refinancing when they otherwise could not due to a decline in their home’s value. It provides you the opportunity to refinance at surprisingly low rates, which could reduce your monthly payments. The average reduction was a savings of about 33% last year. On a $200,000 loan, that translates to an average savings of $4,100 in the first year. With the low rates, 39% of homeowners were actually able to shorten their loan terms as well.

Homeowners are becoming increasingly savvy, and many are surprised to learn how much they’re able to save on their mortgage while refinancing. The program started in March of 2009, but is set to expire at the end of December 2015, so it’s vital to act fast. We recommend using our lending-finder service at LendingTree, which has a proven track record of helping consumers save money by comparison shopping for lenders.

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Mortgage rates hit 2014 low


The government’s stimulus program has helped keep borrowing costs down. The Federal Reserve has been purchasing Treasury Bonds and mortgaged-backed securities for years, providing a steady market for mortgages.But the Fed has cut back on its purchases, and plans to end the buying program entirely in October, reducing demand for mortgage bonds. That should eventually cause rates to climb.

Low mortgage rates and home prices that are climbing more slowly should boost the housing market, said to Keith Gumbinger, spokesman for, a mortgage information company.

“That should provide a solid foundation for home sales this fall,” he said.

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