About Refinancing

October 21st, 2014 • By: AlamQ Popular, Recent, Refinancing

Gіvеn thе trеndѕ еxtrароlаtеd bу mајоr rеаl еѕtаtе rеѕеаrсh сеntreѕ ѕuсh аѕ thе Cоllіеrѕ Intеrnаtіоnаl, PrісеwаtеrhоuѕеCоореrѕ, аnd Swаnероеl, thе уеаr 2014 аnd thе uрсоmіng fіvе уеаrѕ wіll рrоvіdе а ѕоlіd ѕhіft fоr rеаl еѕtаtе іnvеѕtmеntѕ. Mоѕt оf оur Gеnеrаtіоn-Y (72 mіllіоn) аnd bаbу Bооmеrѕ (73 mіllіоn аrе rеѕоlvеd tо ѕеаrсh fоr аnd mоvе іntо mіd-ѕіzеd аnd bіg сіtіеѕ. Hеnсе іt іѕ hіgh tіmе thаt уоu уоurѕеlf rеѕоlvе tо рrераrе fоr lоng tеrm bеnеfіtѕ thrоugh rеfіnаnсіng. Sо whаt саn rеfіnаnсе dо fоr уоu?

  • It Wіll Lоwеr Yоur Intеrеѕt Rаtе

Rеfіnаnсіng bаѕісаllу trаnѕfеrѕ уоur lіаbіlіtіеѕ undеr а dіffеrеnt ѕеt оf tеrmѕ аnd аgrееmеntѕ. Thеѕе аrе nоrmаllу сhаngе оvеr thе соurѕе оf уеаrѕ аnd іn ассоrdаnсе wіth thе Trеаѕurу Bіll. Yоu саn еіthеr соmраrе mоrtgаgе rаtеѕ уоurѕеlf tо ѕее hоw уоurѕ соmраrеѕ tо thе nеw rаtеѕ аvаіlаblе undеr dіffеrеnt расkаgеѕ оr еlѕе соnѕult wіth а рrоfеѕѕіоnаl аgеnt.

Thе Obаmа Admіnіѕtrаtіоn hаѕ аlrеаdу рut ѕеvеrаl рrоgrаmѕ іn еffесt whісh іnсludе:
1. FHA Strеаmlіnе Rеfіnаnсе;
2. Vеtеrаn Affаіrѕ (VA) Lоаn Rеfіnаnсе;
3. Hоmе Affоrdаblе Rеfіnаnсе Prоgrаm HARP Rеfіnаnсе;
4. USDA Hоmе Lоаnѕ.

Anу рrоgrаm (fеdеrаl оr еvеn рrіvаtе) thаt lеtѕ еvеn а ѕlіghtlу lоwеr іntеrеѕt rаtе соuld еаѕіlу hаvе уоu ѕаvіng lоаdѕ оn іntеrеѕt рауmеntѕ. Thіѕ еаѕіlу frееѕ uр іnvеѕtmеnt thаt саn bе сhаnnеlеd tо оthеr еndѕ, оr реrhарѕ tо аррlу fоr а ѕhоrtеr tеrm lоаn!

  • It Cаn Shоrtеn Yоur Lоаn Tеrm

Aѕ уоu mау knоw frоm еxреrіеnсе, рауіng dоwn уоur рrіnсіраl fоr ѕеvеrаl уеаrѕ whіlе hаvіng mаdе еxtrа рауmеntѕ асtuаllу rеduсеѕ thе bаlаnсе fаѕtеr. Sіmрlу сhесk оut whаt уоur lоаn рауmеntѕ wоuld bе іf уоu dесіdе tо rеfіnаnсе іt іntо а lоngеr 10 tо 15 уеаr рlаn, аnd ѕеlесt thе оnе thаt bеѕt ѕuіtѕ уоur рlаn.

Thе gооd nеwѕ іѕ thаt thе сurrеnt соndіtіоn оf уоur bаlаnсе оf уоur lоаn аnd thе іntеrеѕt rаtе, уоur рауmеntѕ mау rеmаіn thе ѕаmе оr а tаd bіt hіghеr. Thіѕ mеаnѕ уоu саn ѕаvе thоuѕаndѕ іn іntеrеѕt bу ѕіmрlу rеfіnаnсіng аnd аѕ а rеѕult bесоmе mоrtgаgе frее fаѕtеr!

  • It Lеtѕ Yоu Cоmbіnе Yоur Currеnt Mоrtgаgе Lоаnѕ

Rеfіnаnсіng аllоwѕ уоu tо соmbіnе dіffеrеnt lоаn расkаgеѕ undеr а ѕіnglе lоаn. Thе uрѕіdе оf thіѕ іѕ thаt уоur оvеrаll іntеrеѕt rаtе drорѕ ѕіgnіfісаntlу! Thіѕ аlѕо mеаnѕ thаt іf уоu hаvе аnу hоmе-еquіtу оr lіnе сrеdіt thаt dеmаndѕ а rерауmеnt оn thе рrіnсіраl аftеr а ѕеt tіmе, thеn уоu саn hаvе thаt сlаuѕе lіtеrаllу rеmоvеd undеr thе nеw соntrасt, but thіѕ wіll rеquіrе ѕоmе fоrm оf lеgаl еxреrtіѕе іn thе fоrm оf еіthеr а gооd аgеnt оr lаwуеr.

  • Inіtіаl Prераrаtіоn

Arm уоurѕеlf wіth а thоrоugh knоwlеdgе оf уоur сurrеnt mоrtgаgе bаlаnсе, rаtе аnd thе hоw muсh оf уоur tеrm іѕ lеft. Nоt оnlу wіll thіѕ іnfоrmаtіоn аіd уоu іn mаkіng а саlсulаtеd dесіѕіоn tо rеfіnаnсе, but аlѕо hеlр уоu аѕѕіgnіng thе рrореr rіѕk mеtrісѕ.


Balloon Mortgages Explained

September 14th, 2014 • By: AlamQ Home Purchase, Popular, Residential Financing

A balloon mortgage is a loan that is provided for a short period of time for a fixed amount of money. Balloon mortgages will often involve periodic payments that are made at a fixed interest rate. During this period, the loan may not be amortized. The balance of the loan has to be paid in full at a specific time.

Another feature of balloon mortgages is that they will combine many of the features seen in adjustable rate mortgages and fixed mortgages. The interest rate will remain fixed for a certain period of time, which may be from 5 to 7 years. The payments will be based on an amortization cycle that lasts 30 years. If homeowners can’t pay the balance by the end of the term, the lender will decide how the payments will be made. The sum is usually converted into a fixed rate mortgage.


A balloon mortgage can be good because it offers an interest rate that is much lower than standard 30-year mortgages. If you are buying a larger home, a balloon mortgage can help you. Larger homes tend to have interest rates that are high, and this can make them difficult to pay off if you don’t have a large income. Balloon mortgages can make things easier. They are also good for people who plan on refinancing the home before the term ends.
Despite this, balloon mortgages can be much more complex than standard mortgages. Some homeowners who use them end up running into problems. You will need to make sure you have solid documents before signing up for a balloon mortgage. You will want to make sure you choose the right lender and read all contracts carefully for hidden fees or other terms. Balloon mortgages can be risky for people who don’t understand them.

Extra Charges For Balloon Mortgages

One problem that customers run into with these mortgages is prepayment penalties. These penalties will often be placed on people who choose to pay off the mortgage early. If you refinance your existing mortgage or sell the home, this can lead to prepayment penalties. The problem with these penalties is that they greatly increase the chances that your home could become foreclosed. Mortgages that have balloon payments are highly susceptible to foreclosure.

Pre Payment Penalties

The cost of prepayment penalties can be large. They are usually calculated as a percentage of the total balance owed. This could be as high as 12% and many homeowners have found themselves paying thousands of dollars more than they expected. If you choose to get a balloon mortgage you should make sure there are no prepayment penalties. If you get into a situation where you can’t afford the home, prepayment penalties can keep you from being able to refinance the home in order to get out of debt. These mortgages can be risky, and should only be used by those who fully understand the risks involved.

Short Term Mortgage – Long Term Problems

A mortgage is a serious financial endeavor that you should take seriously. They involve large amounts of money that most people simply don’t have on hand. If you get into a situation where you can’t make your payments, you could end up losing your home and your credit could be ruined. Many people have made the mistake of getting involved with balloon mortgage without doing their research. They chose not to read the fine print on the applications. They often end up in situations that can haunt them for the rest of their lives.

While balloon mortgages may have low interest rates at first, you should have a plan to make your monthly payments after the first term ends. This can keep you from defaulting on your payments.


Private Mortgage Investing

September 13th, 2014 • By: AlamQ Mortgage Investing, Private Mortgage Financing, Recent

Investing in Private Mortgages

Recently, traditional investment options like the stock market have failed to provide the stability and financial returns investors desire. At times, such investments have even proved downright unstable – collapsing or dwindling before ever making good on the promise of return on investment. In the midst of falling stock prices and failing banks, a more reliable alternative for investors must emerge. A current, extremely viable investment alternative to traditional options is Private Mortgage Investments.

  • Control over Investment

Private Mortgage Investing has bloomed into a multi-billion dollar investment industry and is currently the key vehicle to acquire fixed income for many serious investors. These investments are being made at all levels: with equity, self-directed IRAs, and even personal funds. Of course, Private Mortgage investments are not ideal for anyone looking for a quick return on investment. They do, however, provide reliable and consistent yields over time with some investors doubling their money around every 5 to 6 years. Additional advantages to the Private Mortgage Investing are the ability to earn higher yields of traditional investments and the additional loan security provided by the property in question. All investors, new and experienced alike, interested in diversifying and taking greater control over their investment portfolios should consider Private Mortgage Investing.

  • Return on Investment

Our thorough guidance is with all the information you could need in order to take advantage of Private Mortgage Investment opportunities. You’ll learn inside information on how to safely earn returns of upwards of 12-15% on your investment over the 2-3% that most banks will offer you. Leave the bank behind as you become the master of your own investment portfolio. We’ll take you step-by-step from the basics to advanced techniques like constructing amortization schedules, working with brokers, protecting yourself from loss, understanding tax code, and being able to discern good Private Mortgage Investment opportunities from bad ones. You’ll also learn the advantages and disadvantages of solo and partner investments and owning private real estate in an IRA.

Don’t worry about how to approach mortgage holders. You don’t need to be an expert in establishing trust with borrowers and banks either. Our comprehensive guidance and support will cover all this and much more to ensure you know everything you need to in order to make your Private Mortgage Investments work for you. Everything from presenting to potential borrowers to calculating loan-to-value ratios and inspecting/updating a property is covered in the guide.

  • Low Risk Investment

In times like these when low interest rates are everywhere, Private Mortgage Investments can earn you a higher profit at almost no risk. We’ll show you how. Yes, stock markets are down. Yes traditional investment opportunities are not currently very rewarding. And, yes, personal holding and retirement accounts are definitely dwindling as a consequence. However, the multi-billion dollar Private Mortgage Investing industry is an alternative that we’re here to help you take advantage of. Learn how you can earn significantly higher returns – even upwards of 12% – on these virtually risk free investments with our helpful guide.

  • Conclusion

Remember, with our help, Private Mortgage Investment opportunities can be taken advantage of by any investor – no matter how new or experienced they are. They also offer nearly unparalleled security by having the property in question as collateral on the loan. And, while they are not quick-turn-around investments, investors can easily double their money every 5 – 6 years with Private Mortgage Investments. Start taking advantage of this investment market today by contacting us now.

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Fixed Vs. Variable

September 5th, 2014 • By: AlamQ Recent, Residential Financing, Tips

Choosing Between Mortgages: Fixed Vs. Variable

Mortgage Options: Understanding Fixed vs Variable Rate Canada mortgages.

Selecting the mortgage that is correct for you is really important, and it is one that you can make with all the help of the mortgage professional. By better understanding the various mortgage options available you’ll be better-informed before you begin your decision process.

There are variable and fixed rate mortgages, and all of them has their own pros and cons.

Features of a Fixed Rate Mortgage:

1. Constant payments of the mortgage – your payment does not change before the end of your fixed time. You do not have to bother about additional cost and can stick to a reliable budget.

2. No effect from growing rates of interest – using a fixed mortgage, it generally does not matter whether rates boost through your fixed term. Present charge is only going to influence you as it pertains time to renew.

Down sides with the Fixed Rate Mortgage:

1. You’ll be able to spend significantly more than the existing posted interest rate – interest levels may slide below your fixed rate, but on a fixed rate mortgage, you-can’t take advantage of them.

2. You generally spend more than the conventional variable rate – you pay more to have the benefit of constant, fixed payments.

Benefit of a Variable Rate Mortgage:

1. You generally pay the base interest-rate – adhering to a platform interest ensures that you have a lesser payment per month when prices drop.

Down sides with Variable Rate Mortgages:

1. Your monthly obligations may increase – if interest levels climb, it’s possible your payments increases significantly.


Know Before Refinancing

September 5th, 2014 • By: AlamQ Refinancing, Tips

What You Need to Know Before Refinancing Your Mortgage?

If you’ve ever questioned if refinancing your mortgage is just a smart financial decision the answer is: You should definitely at least consider it. Not just might it give you more to call home on monthly, nonetheless it may possibly also help you save thousands of bucks off your property loan within the long haul. With interest rates near all-time record lows it would be a good idea to observe how replacing your mortgage can economically reward you.

A current survey developed some scary benefits around the state of mortgages within the United States. The report demonstrated that more than half home owners are either spending too much due to their mortgages or are based into mortgages which can be evidently not suited for their desires, money level or financial objectives. By replacing your mortgage you are able to obtain a brand new mortgage and so structure it in a way that meets your present lifestyle.

Study also shows the normal proportion of some people revenue that goes to home loan repayments has increased 12.5% from ten years ago. That’s not leaving today’s home owners significantly to reside on. By replacing your mortgage you are ready to reduce your payment and therefore have significantly more income to work with for different applications.

It is possible to cover thousands less on the living of your mortgage by replacing to a better deal. Whether you’re able to secure a property mortgage using a lower interest, less expenses or even more attributes to settle faster, you will be saving cash inside the long-run specially with interest levels presently at historical lows.

Another key advantage of replacing your mortgage is that you are able to merge your financial troubles. Have you been battling to handle the debt and paying way too much? One of the simplest methods to handle credit card and high-interest debt would be to refinance it into your home mortgage. Simply refinance your balance in total, including credit card debt and other high interest loans, and merely pay the best rate of interest incurred by your home loan.

One of the most widely used benefits of refinancing your mortgage is that you’re ready to choose cash out capital which will be where you can utilize your collateral line of your property and fit money in your pocket. Do you want some money? Need to modernize to include price to your residence and/or boost your living plans? Well, refinancing is an excellent strategy to access the value sitting in your home. The cash takeout of one’s equity and devote your our pocket is tax-deductible too so it’s better than the usual financial loan.

Whatever your motive, replacing your mortgage within this economic setting is just a smart fiscal choice for the majority of homeowners. I’d promote that you simply at least examine the number of choices having a home mortgage officer and capitalize on economy situations to save money.

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