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First-time buyers with good credit still good risk -
Summary from United States, from articles in English
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According to several mortgage brokers and bankers, there is only one 100 percent loan that is generally available: a VA loan, backed by the full faith and credit of the federal government through the Department of Veterans Affairs. (article 4)
"But there is a matrix based on the credit score and the down payment" that can change that number, Glick explained. (article 2)
Lenders are not eager to extend loans to borrowers who will become overloaded by taking on more debt, so there are some general guidelines to keep in mind when pursuing a home loan. (article 1)
Fixed-rate mortgages: Extra payments on a fixed-rate mortgage shorten the payoff period but do not affect the monthly payment. (article 5)
Adjustable-rate mortgages: With an ARM on which the borrower is making the fully amortizing payment, extra payments do change the monthly payment but not until the next rate adjustment. (article 5)
Loan servicers have a self-interest in making the package deal described above because the resumption of payments under MPI also means a resumption of servicing fees. (article 6)
To meet its requirements as an insurable loan, the insurer will require the investor to write down the loan balance to 90 percent or 95 percent of current property value, and reduce the interest rate to the prime rate. (article 6)
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Other stories about loans, mortgage and Lenders:
Event tracking:
Story keywords
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loans, mortgage, Lenders, Credit, borrowers |
Source articles
- News for Dallas, Texas (dallasnews.com, 06/04/2008, 451 words)
- First-time buyers with good credit still good risk - (baltimoresun.com, 06/04/2008, 548 words)
- News for Dallas, Texas (dallasnews.com, 06/04/2008, 758 words)
- No-down-payment mortgages still exist (boston.com, 06/04/2008, 762 words)
- Will a Big Check Reduce Future Payments? Depends on Your Loan. (Washington Post, 06/04/2008, 445 words)
- Struggling borrowers get fresh start under new plan (boston.com, 06/02/2008, 414 words)
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blaster@cs.columbia.edu
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