sep 23 2009 marketing chiq montes
Traditionally, the concept of affordability in relation to mortgages was based on the salary of the would-be borrower. Lenders were usually willing to offer mortgages up to a multiple of the borrower’s salary, typically between three and four. Recently, however, some lenders have adopted a different approach, under the banner of “affordability”. The new concept [...]
sep 23 2009 marketing chiq montes
A mortgage is, of course, a type of loan and the lender of the amount originally borrowed becomes a creditor. From a lender’s point of view, acting as creditor in a mortgage arrangement carries both advantages and disadvantages compared to other more conventional loan types. On one hand, the borrower has greater defined legal privileges [...]
sep 23 2009 marketing chiq montes
In relation to mortgages, equity is defined as the market value of a property less the amount still owed on the mortgage. Property prices are constantly changing. Many homeowners find themselves in the happy situation of living in a property which is currently worth more than they paid for it. In this case, they are [...]
sep 23 2009 marketing chiq montes
The FHA Mortgage is a mortgage guaranteed by the Federal Housing Administration (FHA), an agency of the United States government whose purpose is to help less financially-secure citizens purchase their own homes. FHA mortgages are designed for people who might not otherwise be in a position to obtain a mortgage from commercial institutions. Reasons for [...]