Home-mortgages Articles

Posted on January 16   By MLP Lending Guide
There are so many types of mortgages available for people that it is often difficult to understand which one to choose. One type of mortgage that can be confusing is a negative amortization mortgage. Amortization is the process of paying off the interest and principal of a loan slowly overtime in scheduled monthly payments. Every time you make a payment you are paying that months full amount of interest and some portion of the principal balance. Negative amortization means that the monthly amoun.... Read More...
Posted on January 11   By MLP Lending Guide
When closing on a mortgage, there are many different costs that the borrower must incur. One of these costs is mortgage "points," and is essentially a fee that the borrower pays the lender in order to use their money. This is also known as a "cost of credit," and is part of the investment return to the lender. Each "point" is equal to one percent of the loan amount and must be paid upon closing the loan. If your loan amount is for $100,000, then 1 point is equal to a payment of $1,000. Points a.... Read More...
Posted on January 10   By MLP Lending Guide
For many people, when purchasing a home, finances may be limited. There are several options for people in this situation, and one is the interest-only mortgage. With a regular mortgage, the scheduled monthly mortgage payment goes towards repaying the principal (the original size of the loan) as well as the interest (a financial charge for using the lender's money). In an interest-only mortgage, the monthly payment only repays the interest. This option to pay interest only lasts for a particular .... Read More...
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