Mortgage Mess: How to Determine Your Exposure to the Subprime CrisisThe closest you've come to a subprime mortgage is what you've seen on the nightly news. So why is your portfolio taking a hit?Polyak, Ilana
Loan-to-value ratios Lenders also use a loan-to-value (LTV) ratio to determine how much risk they're willing to take on. In the mortgage world, the LTV compares the total loan amount with the market value of the home you're looking to buy or refinance. Let's say you saved up $80...
Most lenders will use a FICO score to determine your mortgage rates. This is a 3-digit number created by the Fair Isaac Corporation. Your FICO score is a good indicator of how likely it is that you will make your payments on time....
Although there are a variety of different factors that affect interest rates, the movement of the 10-year Treasury bond yield is said to be the best indicator to determine whether mortgage rates will rise or fall. But why? Well, even though most mortgages are packaged as 30-year products, ...
in dollar terms. If they wish to determine their net effective mortgage rate, they could look at that $1,606 as a percentage of their outstanding mortgage balance, and deduct that percentage from their rate. For example, if they owe$500,000on their home, the $1,606 translates to ($1,...
if you're looking for a seller financing calculator that will do the math and determine monthly payments, many are available online. If you're calculating the loan by hand, to determine the loan amount, subtract the down payment, earnest money and any other upfront payment from the purchase...
Direct lenders will provide financing and either service the loan in-house or outsource to a third party. A direct lender offers borrowers with rates and terms that they determine. Mortgage terms with direct lenders can vary from one lending institution to another. ...
your lending specialist will forward your application and the supporting documentation to an underwriter. It's the underwriter's responsibility to review your loan scenario and the supporting documentation to ensure that it meets the loan program guidelines and to determine whether or not you qualify ...
It also can help you determine how expensive a property you can reasonably afford. In addition to the principal and interest you’ll be paying on the mortgage, the lender or mortgage servicer may set up an escrow account to pay local property taxes, homeowners insurance premiums, and other...
You may be eligible for one or more types of mortgages, depending on your income, credit history and credit score, and employment.Mortgage lenderscan help you analyze your finances and determine the most suitable loan products. They can also help you better understand the qualification requirements...