The Home Mortgage Loan Process

With so much money on the line, it's important to understand the mortgage loan process before you're involved in it. Use the articles below to learn more about the process of obtaining a mortgage.

Getting a Home Loan in the 2009 Economy
Are there new rules for getting a mortgage loan in the 2009 economy? Yes and no. The guidelines that have applied to loan qualification in the past will apply in 2009 as well -- but they'll be more strictly enforced. Here's what you need to know about the so-called "new economy."

The Mortgage Application Process
The mortgage application process is one of the bigger financial decisions you'll make in your life. So you'll need to do some prep work. In this article, you'll get some expert advice on completing your application the right way.

How and Why to Compare Mortgage Lenders
In this article, I'll explain how to compare one mortgage lender to another in order to find the best mortgage terms for your needs. It's important to compare lenders and to carefully review the information they present to you, and in this article I'll explain why.

The Mortgage Approval Process
If you plan to buy a home soon and need a loan to cover the cost, you probably have questions concerning the approval process that awaits you. Most home buyers do. The good news is that the process is usually straightforward and easy to understand. This article explains the basic steps that are involved.

Calculating Your Mortgage Payment Amount
The parts of a mortgage payment are referred to by the acronym PITI. This stands for principal (the main loan amount), interest, taxes and insurance. In most cases, all four of these things combined will determine the full amount of the mortgage, and thus the size of monthly payments.

Home Loan Interest Rates - 5 Things to Know
If you plan to buy a house in the near future, then the topic of home loan interest rates will be near and dear to your heart. So in this installment of the house buying tips series, I'll talk about how an interest rate gets applied to a loan, and how it affects you as the buyer / borrower.

Debt-to-Income Ratio Explained
Given the current state of the economy (October 2008), mortgage lenders have gotten a lot stricter with their lending criteria. Buyers need better credit scores, longer credit histories, and more favorable debt-to-income ratios. This article explains what the debt-to-income ratio is in the first place, and how it is used during the underwriting / qualification process.

Basic Steps to Apply for a Mortgage
A mortgage is a long-term loan on a specific piece of property. In general, applying for a mortgage involves the following three steps.

Using a Mortgage Loan Payment Calculator
It has always been important to buy within your means. But in light of recent economic events, this is even more important. For anyone buying a home, a mortgage loan payment calculator can help with the all-important task of setting a budget. It's a key part of the process you must undergo.

How to Avoid Common Mortgage Problems
The key to a smooth mortgage application process is to understand the most common mortgage problems, and then work hard to avoid them.

Buying a Home With Low Down Payment
This tutorial is designed to educate home buyers on ways to buy a home with a low down payment. Includes links to related resources on the subject.

Locking In Your Interest Rate
If you're applying for a fixed-rate mortgage loan, during the process you'll have to decide when to lock in your interest rate.

Private Mortgage Insurance - Can You Avoid It?
When your down payment is less than 20%, your lender will require Private Mortgage Insurance. Buy there are ways to avoid paying it.

First Time Buyer Home Loans - Applying Online
As a first time home buyer, there are several things you should consider when applying for a loan online.

Primary Lenders vs. Mortgage Brokers
One of the most confusing decisions for many home buyers, especially first-time home buyers, is whether to use a primary lender or a mortgage broker when obtaining a loan.

New Home Loans - How to Speed Up the Process
Luckily, there are some steps that you can take to speed up the process of your loan application! Here are a few suggestions.

Earnest Money - What You Need To Know
An earnest money deposit is the norm when making an offer on a house, but how much should it be for, and who should hold the money?

The Down Payment and Mortgage Relationship
Most people automatically look for the lowest down payment option on mortgages. But this is not always the best way to go.

What is a Down Payment?
Listen to advertisements for mortgages and you will hear everything under the sun regarding terms. So what exactly is a down payment, and how does it affect the size of your monthly payment and other things? This article explains.

9 Hurdles in Your Way to Mortgage Pre-Approval
Being pre approved for a mortgage before house hunting will make the process go faster and can save you money.

Buying a Home - Dealing With Lender Letters
Most home buyers understand the value of having a lender's qualification letter in hand. But the value of such letters varies.

How To Compare Home Loans
Finding a home loan lender is easy. Deciding which one to use isn't. Here's help to make the decision process easier.

Home Loan Basics
If you're getting ready to apply for your first home loan, you're going to need to understand the home loan basics. Proper education and planning go a long way toward ensuring your ultimate success. This article is a good place to start.

What You Need to Know to About Your Mortgage Transaction
Mortgage lenders, real estate brokers and sale agents work together to make your home buying experience a good one.

Buying a Home: What are Lender Letters?
What do pre-qualification and pre-approval letters accomplish and what is the difference between them? Read on to find out.

How to Compare Mortgages to Save Money
Having difficulty comparing mortgages? Use this system to compare easily and find the mortgage that will save you the most money!

Home Mortgage 101 - Tax Advantages Of Buying A Home
Tax benefits are very useful for first-time home buyers, especially during the early years of acquiring the mortgage.

What's a Mortgage Point, and When Should I Buy One?
Buying points can lower the interest rate of a mortgage loan, but that doesn't automatically make it the best path for you.

The A-to-Z of Mortgage Loans: 42 Definitions
The 42 definitions that follow will give you a solid understanding of mortgage loans and the mortgage process.

Stop Foreclosure 101 - Avoiding a Mortgage Foreclosure
While mortgage foreclosures are certainly soaring at an all-time high, there are ways to stop foreclosure on a home. The trouble is, many homeowners don't know about these options, and thus they don't know how to avoid foreclosure on their homes.