Should You Opt for Balloon Mortgages? Worried about monthly mortgage payments because of an unstable income? Don’t worry- you can easily go for balloon loans, as they are specially designed for people who are unable to afford a fixed high monthly payment. There is quite a bit of flexibility because minimum payments are required during the repayment program only – it comprises just of interest and a small part of the capital. But the borrower needs to cancel the remaining capital at one go when … [Read more...]
Which mortgage is better for me?
How to Understand which Mortgage is Better Mortgage – this is a dreaded word indeed, because people get extremely mortified to hear it, and yet this is something we can’t avoid. Before applying for a mortgage loan, you need to know about the terminology and technicalities associated with it. Only then can you successfully determine if a particular mortgage will be beneficial for you or not. … [Read more...]
How much can I afford to borrow?
How Much Can You Borrow while Buying a Home? Who wouldn’t want to own a property that can be called home? Unfortunately, there are lots of factors to consider such as mortgage – for a fair deal, you need to have a good credit score, be more or less debt free, save cash for down payment, and so on. Keep in mind that mortgage companies will always verify if you have the ability to pay back what you are borrowing from them. … [Read more...]
