Friday, March 24, 2017

Mortgages are the lifeblood of the US economy

Posted by Timmy
The housing market is a major driver of the US economy.  Since for most people their biggest investment is their home, it is crucial to have access to funds to purchase a home.  Recent reforms have made it more difficult for people to obtain the funding through mortgages.  I hope that the new administration will moderate the restrictive measures taken to make mortgages more difficult to obtain.  Home financing puts more money into the economy, into people's pocket, and drives growth.
Read More
Message from Mortgage Monarch

Thank you for visiting the Mortgage Monarch. Here you will find an abundance of mortgage information.

Thursday, March 16, 2017

Home Equity Loan Appraisal Tips

Posted by Timmy
If you are trying to borrow some money against your home for a home equity loan, you will need to permit the bank to do an appraisal.  In order to maximize the amount of the loan you qualify for, you will need to make sure the property and home is in tip-top condition.

Here are some tips for home equity loan or mortgage refinancing appraisals:

  • landscaping:  cut the grass and shrubs
  • Clean up the property: no trash or debris, make them understanding you maintain the place
  • Clean the inside of the home
  • Make sure they know and/or experience your temperature controls
  • No poor stains on the walls
  • no leaks
  • Make sure there are no obvious roof problems
Read More

Saturday, March 11, 2017

End User Construction Loans

Posted by Timmy 2 Comments

End user construction loans offer funding to people seeking to finance the building of a new home from start to finish.  However, this sort of loan is meant for people who intend to move into the home, not just speculators looking to sale the home immediately for profit.  This sort of mortgage product can offer people the flexibility to get the money they need to buy property and construct a new loan. Unfortunately, many banks do not offer these loans.  

We suspect that the crippling regulations of Dodd-Frank may have some role in this reluctance.  Hopefully, the new administration can dispense with the red tape and give people and investors access to the capital they need to build.  Low mortgage rates coupled with this flexible finance product can seriously help our housing market and by extension the economy as a whole.

Read More

Wednesday, March 8, 2017

Comparison of Mortgage Rates

Posted by Timmy
Bankrate offers a nice tool for finding the best lowest mortgage rates at the current time.  Be sure to check them out to help you shop around for nice low rates.

Mortgage Rates Today
Read More

Monday, March 6, 2017

Waiver of Mortgage Origination Fees

Posted by Timmy
It can help to bundle all of your finances with one financial institution.  Some banks give you origination fee free mortgage approval if you have meet a certain threshold of account balances with the bank.  They can also give you a lower mortgage interest rate.  Ask your bank since these fees and higher interest rates can cost you serious money over the long term.
Read More

Saturday, March 4, 2017

Rising Interest Rates

Posted by Timmy
Mortgage interest rates are still near their all-time lows.  The Federal Reserve has indicated that interest rates may rise in the near future.  This can have a dramatic effect on your monthly principal and interest payments and of course cost you massive amounts of additional interest.  Keep this in mind and pull the trigger if you are on the fence. 
Read More

Wednesday, March 1, 2017

Protecting Assets through a mortgage on a property

Posted by Timmy
No one wants to be staring down the barrel of a lawsuit, judgment or a divorce.  Some people with substantial assets may own a property outright, with no mortgage.  It's great to be able to do this.  However, in the unfortunate event that a creditor or enemy is seeking attach your property or execute on a judgment, they will be able to lien or even foreclose on your property / home to satisfy the debt or judgment.  A mortgage can be a useful tool to encumber the property and prevent it from being used to strip you of assets. Obviously, you will need to consult legal and/or financial professionals.  But it is something to consider. 
Read More