second-mortgages Blogs search results

All Blogs

Mortgage Advice: Home Equity Loans Can Finance an Investment Properties and Second Homes

By Team iBizExpert On February 28, 2022 02:14 AM No Comments

As investors get tired of the unreliable stock market, the idea of investing in real estate seems to be getting more and more popular. Many investors think that real estate is a good way to save for the future because, in the medium to long term,...

Using a Second Mortgage for an 80-20 No Money Down Home Purchase Loan

By Team iBizExpert On February 16, 2022 09:22 PM No Comments

Many renters want to buy their own home, but they can't because they don't have enough money for a down payment. If you can pay the same amount each month for a house payment as you do for rent, an 80-20 no money down loan could help you get out...

Stated Income Second Mortgages: Understanding No Income Verification Loans

By Team iBizExpert On February 15, 2022 01:56 AM No Comments

What is a second mortgage based on a stated income? A second mortgage with a "stated income" doesn't require the borrower to show proof of the income listed on the application. This helps self-employed people and contract workers who get a 1099...

Reverse Mortgage- is it a big risk?

By Team iBizExpert On February 14, 2022 05:12 PM No Comments

A reverse mortgage is a special kind of loan that some homeowners can use to turn the value of their homes into cash. Simply put, a reverse mortgage is a type of loan that gives you money every month, all at once, or as a line of credit. Or a...

Non Comforming Loan Comparison: Adjustable Rate Mortgage Versus Fixed Rate Mortgage

By Team iBizExpert On February 13, 2022 01:48 AM No Comments

Are all loans for a house the same? Or, if you're not careful, choosing one type of mortgage over another can get you into trouble. All mortgages are not the same. For example, an adjustable rate mortgage is different from a fixed rate...

Loan Comparison: Interest Only Home Equity Loans Versus Balloon 2nd Mortgage

By Team iBizExpert On February 12, 2022 11:20 PM No Comments

What is a loan that only pays the interest? This is a loan where only the interest is paid back each month. The principal is not paid back. The loaned money may be paid back in 10, 15, or 20 years. By making payments on the principal, a borrower...

Home Equity Loans The Best 2nd Mortgage for Financing Home Improvements

By Team iBizExpert On February 11, 2022 01:22 AM No Comments

Are you sick of seeing those avocado green appliances in your kitchen? Your family room's wood panelling and shag? The fibreglass tub enclosure in the guest bathroom was old and worn. The whole country is getting into home improvement. About half...

Danger of Deferred Interest Mortgages: Understanding the Risks of Negative Amortization Home Loans

By Team iBizExpert On February 10, 2022 04:15 AM No Comments

Negative amortisation, or "neg am," happens when a mortgage's minimum payment is less than the monthly interest. This means that the loan balance goes up instead of down. Most of the time, interest-only loans don't add to the amount owed on a...

An Introduction To Commercial Mortgage Brokers

By Team iBizExpert On February 09, 2022 11:01 AM No Comments

If you want to get a commercial mortgage quickly, you should work with a mortgage broker who is an expert in the field. When you want a loan, you have to fill out a lot of paperwork. Even if you carefully fill out the application and send in all...

9 Tips on Applying for a Second Mortgage

By Team iBizExpert On February 08, 2022 02:47 AM No Comments

People usually get a second mortgage or home equity loan when they need money to pay off big bills, consolidate debt, or make changes to their home. Most second mortgages are either home equity instalment loans (HELOANS) with a fixed interest...