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Understanding Amortization

When you borrow money for buying a home or for any other purpose, the loan is amortized. It is important to understand the loan schedule that the bank provides you. It is not just another document amongst a heap that is generated while taking a mortgage. It is the single most important document while you...

Procedure of Obtaining a Mortgage

Procedure of obtaining a mortgage is lengthy and involves many parties. A well informed buyer is more likely to make the correct choice. Here is the procedure:

Qualifying For A Bigger Mortgage

A bigger mortgage may not always be the most financially prudent decision. Factors that a lender considers while giving a loan are as follows: Stable Income: Most lenders will look at your income over a certain period of time. They are more interested in looking at your stable income. For salaried personnel,...

Mortgage Broker Necessary or Not

When you decide to take a mortgage, one of the major decisions you have to make is about choosing the lender. You could do that in two ways. You could go hunting for all the deals that are available in town and decide the best one for yourself or you could use the service of a mortgage broker. There is an...

Dangerous Loan Features

Mortgages are powerful financial instruments. It is essential that you read the document carefully and ensure that you understand the implications before you plunge into making a decision. Sometimes there are hidden features that could work to your disadvantage. Some of these features may not be hidden but...

Choosing the Best Term

The term or duration of the mortgage that you choose has serious implications on your financial health in the future. It is therefore advisable to carefully choose the term rather than arbitrarily picking it. There are many trade-offs that you are making when you choose a mortgage term. Some of them are as...

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