Second Mortgage

Don’t ignore the margin when choosing an adjustable rate mortgage!

If you are considering mortgage refinancing with an adjustable rate mortgage, the total interest you pay depends on the index rate plus your lender’s margin.

The margin you pay is supposed to cover the lender’s overhead, operating expenses, and profit; however, many lenders mark up the margin excessively.

Here are several tips to help you avoid overpaying your lender’s margin when mortgage refinancing with an Adjustable Rate Mortgage. Read the rest of this entry »

Contrary to what your second mortgage representative will tell you, your FICO score does not necessarily represent your credit strength.

It is possible to have a low credit score even if you’ve never paid a bill late in your entire life. Here are several tips to help you with credit scores and qualify for a better rate when mortgage refinancing.

The Fair Isaac Corporation and others scorers look at certain aspects of your credit files for certain patterns that represent a person that has not or will not pay their bills on time. Read the rest of this entry »