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Mortgages are pledges of a piece of property to a lender made in exchange for a loan. Discover how mortgages and mortgage companies work with tips from a licensed mortgage broker in this free video series on personal finance and real estate.
There are 28 videos in this series:
Adjustable-rate mortgages, or ARMs, are mortgages that are fixed for a certain period of time before being adjusted. Learn about ARM caps with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Mortgage calculations are based on amortization, rate and loan amount, which determine a mortgage payment. Plug three numbers into a mortgage calculator with tips from a licensed mortgage broker in this free video on personal finance and real estate.
In order to understand how mortgage companies work, it's important to know the difference between local banks, correspondent lenders and mortgage brokers. Discover how mortgage rates differ and how to get a loan with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Mortgage points are up-front charges for a loan that a lender charges a borrower to reduce a rate. Discover how mortgage brokers charge points with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Mortgage rates show what it costs to borrow that money, and they are related to a person's credit score. Discover how good credit scores equal low mortgage rates with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Mortgages are basically a repayment that encompasses real estate and which are based on monthly payments that go towards principle. Discover how adjustable-rate and fixed-rate mortgages work with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A balloon mortgage is like a regular mortgage, except that it is due within a specified period of time. Discover how balloon loans are generally paid off in five years or less from a licensed mortgage broker in this free video on personal finance and real estate.
In a balloon mortgage, the payment is due within a specified period of time that is usually no less than one year and no more than five years. Make monthly payments on a balloon mortgage with tips from a licensed mortgage broker in this free video on personal finance and real estate.
For mortgages, a 30-year amortization means that a loan payment is based on a term of 30 years. Discover how amortization is based on years on a mortgage with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A mortgage short sale is when a lender agrees to discount the loan on a mortgage when someone is in default, or for other reasons. Learn how a mortgage short sale is a good alternative to the foreclosure process with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Assumable mortgages are no longer prevalent, but there used to be both qualifying and non-qualifying assumable mortgages. Learn how people used to assume mortgages on other people's terms with information from a licensed mortgage broker in this free video on personal finance and real estate.
Becoming a commercial mortgage broker requires obtaining a license by passing a written exam and a class. Discover how a commercial mortgage broker differs from a residential mortgage broker with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A mortgage broker is a person who basically brokers a loan between a lender and a borrower. Discover if a state requires a license to become a mortgage broker with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Closing costs on mortgages are based on the loan amount, in addition to taxes on the deed and the note. Calculate closing costs on a mortgage, which include broker fees, lender fees and courier fees, with tips from a licensed mortgage broker in this free video on personal finance and real estate.
In order to calculate monthly mortgage payments, a person needs to have the numbers for amortization, the rate and the loan amount. Calculate monthly mortgage payments by using an online mortgage calculator with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Calculating mortgage payments for a home requires information on interest rates, amortization and the loan amount. Calculate monthly mortgage payments by using an online mortgage calculator with tips from a licensed mortgage broker in this free video on personal finance and real estate.
In order to figure out mortgage payments, a person needs to have the numbers for amortization, the rate and the loan amount. Calculate monthly mortgage payments by using an online mortgage calculator with tips from a licensed mortgage broker in this free video on personal finance and real estate.
Provide credit reports to lenders to find a good mortgage lender with the best rates, best terms and least amount of points. Find a good mortgage lender and have a credit score ready with tips from a licensed mortgage broker in this free video on personal finance and real estate.
In order to obtain a loan without private mortgage insurance, a person needs to have the balance of the loan percentage at 80 percent or below. Avoid paying private mortgage insurance, or PMI, with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A second mortgage basically means that there is a loan in second position that has been obtained at a local bank or from a mortgage broker. Get a second mortgage, but only pay taxes or insurance on the first, with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A wraparound mortgage is a mortgage obtained from a seller wrapping around the existing mortgage on a property. Come to terms on a purchase price and rate when getting a wraparound mortgage with tips from a licensed mortgage broker in this free video on personal finance and real estate.
In order to get out of a mortgage default, most lenders will work with the borrower, but a person may need a hard equity loan. Get out of a mortgage default or sell the property with tips from a licensed mortgage broker in this free video on personal finance and real estate.
The fastest way to get rid of private mortgage insurance is to reduce a mortgage balance less than 80 percent. Pay the lender for a PMI with money, from a second loan or local lenders, with tips from a licensed mortgage broker in this free video on personal finance and real estate.
As far as mortgages go, the government loans are most likely the cheapest ways to move out of your parents' house. Ask mortgage brokers about federal housing loans (FHA) loans with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A mortgage broker can start a business by seeking legal counsel, getting incorporated and paying a state for licensing and overall setup. Start a mortgage broker business to make more money with tips from a licensed mortgage broker in this free video on personal finance and real estate.
A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt. It is a transfer of an interest in land, from the owner to the mortgage lender, on the condition that this interest will be returned to the owner of the real estate when the terms of the mortgage have been satisfied or performed. The mortgage is, thus, a security for the loan that the lender makes to the borrower. In most jurisdictions, mortgages are strongly associated with loans secured on real estate. In this free video series, a licensed mortgage broker provides information on mortgages, how mortgage companies work and how to make mortgage calculations. Discover how mortgage points and rates work, how to assume a mortgage and how to get a second mortgage. With this financial advice, getting a mortgage on a house won't seem like such a scary proposition.
Adriel Torres Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker. Torres has been doing credit repair since 2001, and he was regional sales manager for two national sub-prime lenders. Torres is the current owner of ultimatecredittoday.com.dkdk
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