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Check out Federal Mortgage Services' Comprehensive Mortgage Glossary to learn the terms and speak of the mortgage financing industry.

Part of taking out a mortgage on your new home is dealing with interest rates. The below article goes over what interests rates are ideal and how you can calculate what your rate before you sign the deal on the dotted line.

If you're in the market for a new home, knowing what current lending rates are becomes one of the most important things in your life. As a percentage of a whole, the interest rate on a long term loan, particularly that of a mortgage, can add up to thousands of dollars and scoring as low an interest rate on a home loan as you can find would mean a huge break on your budget. The trick is actually getting a low-interest home loan.

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While the country is in such a low, economic state, it can be hard to find a reliable lender for financing your home. The below article talks about how you can wiggle your way into marketplace and what you need to know to do it.

The recent epidemic of home foreclosures has created an environment of paranoia for both lender and borrower alike. At the heart of this paranoia is the Federal Government, which created haphazard conditions in which lending institutions were required, by law, to operate. The two banking entities adding kerosene to the home loan market bonfire are the Federal Home Loan Mortgage Corporation, or Freddie Mac, and the Federal National Mortgage Association, or Fannie Mae. Both institutions were created initially to provide a market pool by which federal funds would be used to secure mortgages in the event of default.

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Curious about what Private Mortgage Insurance is? Not familiar with the term? The below article reveals all you need to know about PMI, and how it can protect you and your lender.

A new home usually comes with a mortgage these days. After all, not too many people can pony up a few hundred-thousand dollars up front and move right into a new house. But, with a home loan, most new home buyers can supply a down payment and meet a schedule of monthly payments until the end of the loan with little, or no, trouble. It's simply a matter of staying within the limits of one's budget when buying a home and staying on track to meet the obligations of the home loan. Since lenders don't want to end up losing money because a new homeowner defaulted on their loan, there are certain protections available to both the borrower and lender.

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Ever wonder what the tricks and scams are in the mortgage finance industry? Federal Mortgage Services lays it all out for you in the below article. Don't get caught up in a mortgage scam by being unprepared.

The current real estate market has created an environment where mortgage fraud has proliferated accelerated by technology and an industry that has been overburdened by confusing and contradictory regulations. Add to this the number of new home buyers that are willing to enter into a home loan agreement with little to no knowledge of how the process works or the faintest idea of what's legal and what's not.

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Federal Mortgage Services provides you the tools you need to get financing for your home. One of those tools is a mortgage calculator, which can help you calculate your monthly payments and interest rates. The below article goes into further detail.

Buying a home is a fairly complicated matter for the shear magnitude of the costs involved. With figures in the hundreds of thousands of dollars, it's easy to become overwhelmed by the math that goes into determining the costs that go into applying for a home loan. An apprehension recognized by many lending professionals, an easy method for streamlining the math into a user-friendly process has been developed into an online application – the Mortgage Calculator.

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There are more costs involved in getting a home loan besides the straight-up cost of your monthly payments. The below article discusses the various fees and rates that come along with your loan.

You should only buy a home when you can afford it – which is a painfully obvious statement. But, when can you afford a home? Does that mean you should only buy home when you can afford to pay the entire cost with one big sack of money? That's hardly realistic when hundreds of thousands of dollars are involved which is why there's an entire industry devoted to lending money to people who don't, generally, walk around with gigantic sacks of money. A home loan is how most folks deal with the expense of purchasing a new home giving them an opportunity to become a homeowner through a program of manageable payments over a specified numbers of years. So, with the possibility of a home loan, affordability takes on a new standard based on what you can afford on a monthly basis. But, there are a few more things involved here that can really screw you up.

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Are you and your finances ready to take on the responsibility of a home loan? The below article discusses how big a responsibility a home loan is, and whether you have the finances and credit to back it up?

The home mortgage market is an industry that has been in existence for about 2,000 years and was born of the medieval practice of a landowner selling a parcel of unused land to a prospective landowner who might not have been able to pay the entire cost up front. The lending landowner would enter into such an agreement based on his knowledge of the borrower as a person, his ability to pay, and his ability to make the unused land productive. In short, the mortgage was agreed to based up the borrower's ability to prosper and, thus, minimize risk to the lender. The basic elements of a modern mortgage remains the same as its ancient ancestor. There is a principal sum of money borrowed, a term agreed to by both parties as to when it must be paid back, and a rate of interest charged on the principal over the term of the loan.


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What risks are you taking when you sign on the dotted line of your new home loan contract? The below article lays it all on the table for you to read.

The mortgage loan has been around for almost 2,000 years, rather amazing when you think about how little the process has changed over the centuries. The debtor borrows a sum of money, known as the principal, to purchase land and pays the creditor back over an agreed upon time, known as the term, with interest to remunerate the creditor for the use of the money and the land. In ancient times, this was a brilliant way to make unused lands productive – and profitable – by placing them in the hands of people who couldn't afford the entire cost up front, but were likely to prosper as a result of the agreement.

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Are you experiencing a financial hardship? Are you having trouble making your monthly loan payments? The below article talks about what you should do in such a situation.

Entering into a mortgage is a commitment that will typically last 10 - 15 years. In a strange way, this offers a certain sense of stability since you know ahead of time that you'll be paying a specific amount of dollars per month over a specified term. But, no one can plan for the unforeseen. What happens if you lose your job somewhere along the way or suffer a major financial disaster? This can severely impact your ability to meet the obligations of your mortgage.


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If you can afford it, making a big down payment on a house can help you in the long term. Your payments and interest rates won't be as high. The below article goes into further detail about how a big down payment can help your loan.

You're earning a good living and the time seems right for you to buy a house and assume the responsibility for a home loan. But, are you really ready to dive into home ownership? This will likely be your biggest investment in entire life and one that will impact your finances for many years. This means you have to able to count on your current income for at least a decade and that you have a sizable amount of savings accumulated to make a down payment and meet the other costs that come with buying a house.

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Having a hard time making your payments on time? You can defer your payments, but it may cost you. The below article explains how deferring your payment may not be the best move.

In a down economy, it's possible that you'll find yourself struggling to make monthly mortgage payments. Your lender might suggest to you that skipping a couple of payments would help get you back on financial track. It may sound odd that your lender is encouraging delinquency, but what it's actually doing is allowing to defer a payment or two without negatively impacting your credit. The thing to remember is that those payments don't miraculously disappear. They get rolled into your home loan and you'll wind paying interest on that money over the term of the loan.

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Want to learn a little about the history of home loans? The below article is a quick guide to learning about the market.

A home is the biggest single investment in most people's lives involving hundreds of thousands of dollars in the purchase. Enter the mortgage loan agreement (which is a rather formal way of referring to it). The mortgage loan or, just plain mortgage, was invented around 1190 A.D. as a means for more people to own land without having to pay the entire amount up front. This created the debtor/creditor relationship which still exists today in such large purchases.


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Need help figuring out the steps to getting financing for your new home? The below article outlines the process of getting your new home loan.

In spite of the fact that we're moving towards a paperless world given the ease with which we can purchase computers, get Internet access and maintain business records on our hard drives, we still need to wade through a river of paper documents to obtain a home loan. Though it seems a daunting task, applying for a mortgage is a fairly straight-forward process for the first-time home buyer. The process is heavily regulated by the states and the federal government to protect the potential homeowner, but only if you know your rights in the mortgage application process.

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Understanding a mortgage isn't as hard as you might think. The below article talks about the details involved in getting a mortgage, so you can understand the intricacies of your mortgage contract.

Possibly the biggest investment in your life will be the purchase of a home. Since most incomes preclude making such an investment in one easy payment, most prospective homeowners will take out a loan from their bank, or other lending institution. This is what's known to almost every adult in America as a mortgage. Though mortgages have been available almost as long as there has been a real estate market, the home loan system we're all familiar didn't come into being until the great depression. This system greatly reduced the amount of cash needed for a down payment and put home ownership within reach to many people who would never have considered buying a home. But, that home loan adds some new factors you need to consider before you make that BIG decision.

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It's always important to fully read over your home loan contract and obligations. The below article explains how not doing so can cost you buckets of money in the long run.

Maybe you haven't had the best record in meeting all of your financial obligations with a few late payments here, a missed payment there. But, you managed to keep the lights on, kids fed, and put away enough savings to consider buying a home. As a result, you might not have the best credit score. And, it's that bit of red ink you dropped in the financial waters that has some sharks circling to make you a mortgage deal that you'll believe you can't pass up. Don’t get baited into making a bad home loan that can cost you!

Refinancing a home is never an easy decision or process. The below article highlights things you should know about the refinancing process.

With a down economy, homeowners are looking for the best way to reign in expenses. Many have looked into refinancing their home loans to reduce the terms and rates they are currently paying. While interest rates have fallen in recent months, the mortgage refinancing process has become more complicated due to the increased number of people who have defaulted on their home loans. You, however, may still see this as being a very economical thing to do as long as you don't lose your grip on reality in the process.

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Have a low FICO score? Bad credit? The below article covers how a subprime mortgage loan can be a viable financing option for you.

Subprime mortgage loans are loan products that charge a higher interest rate and increased fees over prime mortgage loans. Generally, people with low FICO scores have a difficult time qualifying for traditional (prime) mortgages. Because of this, the subprime market was developed in order to provide people with low FICO scores a means for purchasing homes. FICO stands for Fair Isaac Corporation – the corporation that calculates each person’s creditworthiness and assigns a numerical value to that “creditworthiness.” Although the formula itself is considered a trade secret, it is based off factors such as employment and residential stability, amount of available credit, and financial obligation records. There are three major reporting agencies: Equifax, Experian, and TransUnion. These companies also have their own formulas for determining a persons’ creditworthiness. However, the FICO formula is considered to be the industry standard. A low FICO score almost always indicates a poor history of paying bills. Although a prime lender will generally be unwilling to take on the risk that a borrower with a low FICO score presents… subprime mortgage lenders offer subprime loans to individuals with less than desirable credit.

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With any loan, be it student, car, or mortgage, it's important to have a low interest rate. The below article covers how that is possible with a mortgage loan:

Low mortgage interest rates are the component of home mortgage loans that make it possible for you to secure lower monthly payments on your home loan. If you have little experience in making large purchases and dealing with interest rate issues, it is vitally important that you do some research before jumping into the mortgage loan scene. Lenders often advertise low mortgage interest rates, this often makes finding the best deal rather difficult. A quick Google search will show you that there are hundreds of companies claiming to offer the best rates around. You will also find similar claims in the local newspaper and national magazines. Taking some time to read what the experts have to say before making a decision is a good idea. Making an educated decision will often save you a significant amount of money.

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Have bad credit? Need a mortgage loan? The below article covers what you need to know about getting a mortgage loan with less than perfect credit.

Bad credit mortgage refinancing gives individuals with a poor financial background the opportunity to rework their mortgage and snag a lower interest rate. Just because you have experienced financial circumstances that have damaged your credit history in the past, doesn’t mean there aren’t lenders out there willing to work with you. There are many lenders who specialize in refinancing packages specifically tailored for individuals with low credit ratings. In some cases, you can even sit down and speak with your current lender to see if they might be accommodating of your situation and refinance the loan in order to ease your financial situation In most cases, however, you will have to refinance with a different lender. That being said, you should have no problem finding a home mortgage lender that is willing to work with your credit problems and help you with bad credit mortgage refinancing.

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There are several websites who offer online mortgage loans, but Federal Mortgage Services provides you the information you need to make the best possible decision. The below article goes over some of the details you need to know.

Home mortgage loan qualifications are constantly changing… especially with the current credit and debt society we live in. Today, a mortgage with a good interest rate can almost be based solely on your payment history and credit ratings. Home mortgage loans are also provided based on the amount of debt you currently carry. There are countless lending companies available to you via the Internet. Further, you can use the Internet to comparison shop when looking for an excellent home mortgage loan deal. The process has never been easier! When you are shopping for a reputable lender, it is important that you know the best current interest rates and begin the negotiation process with a point of reference.

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For an overview of paying for your new house through a home mortgage, read the below article.

Home mortgage financing is one of the best ways for you to improve your monthly budget. There are many different types of mortgage loans available to you. If you are looking to buy a home, chances are you need to borrow money to do so. Generally, home mortgage loans are used to purchases housing. Mortgage loans represent a pretty sizable portion of the economy. The financial market has changed a lot over the last few years. And now, the Internet has become one of the main sources for mortgage loan information. There are many programs available to you on the Internet that offer mortgage loans – or the opportunity to get in touch with home mortgage lenders.

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Need information on how to get a home mortgage loan quote? The below article covers the basics of getting one.

Home mortgage loan quotes are available online for anyone looking to compare mortgage loan rates from multiple home mortgage lending institutions. Estimates are generally provided at no cost and no obligation. Because of this, you can determine the price of your home loan payment and term of your loan without making the commitment to purchase a new home! Home mortgage loan quotes are offered by sites like us here at FederalMortgageServices.com. Once we receive your mortgage loan quote request form, we send that information to our lender and mortgage broker partners as well as provide quotes and information for you to evaluate. The benefits of this process are pretty clear: by doing your homework and evaluating your options, you are able to receive some of the best possible options and rates around. Further, the loan quote information request process is obligation free and of no cost to you! This allows you to make an educated decision on which lending company you wish to use. Further, our lending companies provide rates for not only new homes, but also for refinancing and equity loans.

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There are many factors to consider when finding the right loan for you, including the loan term. The below article indicates what loan terms should be acceptable for your loan.

With the price of a home in the hundreds of thousands of dollars, taking on a mortgage seems like good sense to the prospective homeowner. This reduces the huge price tag to a series of manageable payments for most family incomes putting a new home – the American Dream – within their reach. So, how does the prospective homeowner decide what are the best mortgage terms? The right answer takes the talents of a fortune teller. But, for most new home buyers, doing the right things will keep them on the right track to homeownership.

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The below article discusses the benefits of shopping for a home loan before signing your name on the dotted line.

When you take on the task of searching for a home loan, you're going on a shopping trip. As if you were looking for the best fruit in the produce section of your supermarket, you're looking for the best home loan to suit your needs. Since there are thousands of lenders across the country, you're home loan shopping trip will be a little more complicated than picking out the freshest apples in the produce bin.

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Getting a loan is a huge responsibility, and it's important to make sure you are financially sound before making such a large commitment. The below article explains why:

With a home loan there's a lot of stress, primarily from knowing that you must have the financial stability to qualify for the mortgage loan and the ability to make your monthly payments on time and in full. What you might not think about are the things you wouldn't normally consider if you're on financially solid ground. While a lending agent may find very little to worry about with your ability to make good on a loan, you can still make some mistakes that can delay or, even prevent closing.

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For those out there who have less than perfect credit, finding a loan of any kind can be difficult. The below article explains why it is easier than ever for people with bad credit to find mortgage loans.

The housing crisis in the U.S. today is more of a mortgage loan crisis as home loans were offered over the past 15 years to borrowers who would've been classified as high risk. The result was a massive increase in the number of people defaulting on their home loans. At the heart of this economic debacle was the federal government creating an artificial mortgage funding market through the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association, better known as Freddie Mac and Fannie Mae, respectively. These two agencies had been in place for decades establishing home loan guidelines in an effort to protect mortgage lending market by guaranteeing assets if a borrower were to default on a loan. This minimized risk for banks and lending institutions which meant they could extend loans to potentially risky borrowers.

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The below article goes over the difference between fixed or variable rate mortgages, and which is the better option for you.

With the biggest investment of your life, a home loan, staring you in the face, you have the task of determining what will give you the best chance at peace of mind when you secure that mortgage: A fixed-rate mortgage or an variable-rate mortgage. Both have their advantages and disadvantage and the trick is determining what will work to your economic advantage. So, the question you have to ask yourself is how long you think you need to pay off this home loan. Will this be a 5-year or a 25-year home loan? Or will it be somewhere in the middle? What kind of mortgage will offer the best savings?

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Don't know what a Home Equity Mortgage is? The below article highlights what they are and how they possibly fit into your loan.

Home equity mortgage loans are secured property loans that allow you, as a homeowner, to receive a loan based on the amount of equity currently in your home. Home equity mortgages are often called second mortgages as they use the equity in your property as collateral. There are many reasons that you may want to consider a second loan on your house’s value. These reasons can include help for various financial reasons. That being said, getting a home equity mortgage loan will increase your monthly house payment and add liability to your financial portfolio. You should always research and carefully consider your options before you jump into the situation of taking out a loan on your property value. There are a number of good mortgage companies that offer property-based notes should you decide to pursue a home equity mortgage.

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If you're a first-time buyer for a home mortgage, the process can be a little overwhelming. The below article covers a few tips you need to know before getting into the process.

Once you’ve found a home, you need to find a way to finance it. The question is, how do you know what kind of mortgage you need to get? Traditional thinking will tell you that you should ALWAYS get a “traditional” 30-year amortizing fixed rate mortgage. That being said, everyone has different needs and financial situations and no lender should put everyone in the same basket. You should also always consult your tax adviser and/or financial adviser as part of your decision process.

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FederalMortgageServices.com provides you with the information you need to know about how to find an affordable rate on your home mortgage. Read the below article for the details.

The type of home you buy should depend on a large number of factors. That being said, being able to afford your first home may be far easier than you previously imagined. There are a number of steps you can take to make turn your dream home into a reality.


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Knowing the process of getting a mortgage loan is essential before applying for one. The article below describes why:

Buying a home is a huge decision and there is a lot to learn, and consider, before you begin the process of shopping for your dream home. First and foremost, being prepared will help make the home-buying process far easier than it would be otherwise. The following are a number of things you should keep in mind before you apply for your home mortgage:


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The below article goes into how using the internet can help you find the perfect mortgage loan for your situation, despite your credit score or financial circumstance.

Online mortgage quotes provide you with an estimate on your home mortgage loan. If you are interested in getting a new mortgage, or refinancing your home, you should shop around online for as many estimates as you can before you settle on a lender or a mortgage broker. Do everything in your power to get the best rate and loan terms possible. FederalMortgageServices.com can help you get there! We provide you with a convenient and easy way to receive several rates quickly. All you have to do is fill out our loan quote information form! It’s FREE! We connect you with some of the top home mortgage lenders in your area. You can then have these lenders that will compete just for your business!

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Though getting a mortgage loan is a sizable investment, there is nothing to fear as long as your do proper research and find the best loan for your situation. The below article goes into further detail:

The bigness of a home mortgage loan has an intimidating effect. This will likely be the single largest cash figure a prospective homeowner will ever deal with in a lifetime. Add to this that it's a loan for entire home... a building... an immoveable object. But, the mortgage loan process breaks that huge some of money into a manageable series of payments over a reasonable period of time. Though a prospective homeowner is signing up for the death pledge, there's no need to fear the mortgage.

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The below article explains why it is in the best interest of mortgage companies to properly service their customers.

“The customer is always right” are the words that many businesses lived by at one time and was key to making sure a customer was completely satisfied. It seems odd that this notion of doing business would be foreign to the mortgage lending industry. After all, a home mortgage loan is a product that requires service and regular maintenance. It's also a very expensive product costing the prospective home buyer many thousands of dollars over and above the cost of the home they are buying. With that kind of money on the table, why would a borrower not look for the best home loan service available?


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By researching mortgage loan tips and tricks before you invest, you can save a lot as money. The article below details how:

With the American Dream in sight, there's no need to rush into the first sweet home loan deal that comes along. The biggest investment of your life should not feel like the biggest mistake you ever made. With that in mind, do some homework. Know your rights when it comes to financing your first home and know your economic situation when you consider applying for that mortgage. With a very tempting home loan offer set before you, you might want to consider a few things before you start signing the papers.

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Be proactive about the interest rate on your mortgage loan. The article below discusses how and why you should do this.

In recent months, interest rates have gone down making a home loan or mortgage refinancing very attractive to many homeowners. But, as easily as interest rates can go down, they can also go up. Timing is everything in a mortgage loan deal and it's easy to make a mistake in getting the right terms and interest rates leaving you hip deep in financial trouble.


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As the article below highlights, there are a few things you should look into before making the decision to refinance your home.

Home mortgage refinancing is a popular method homeowners use to save money on the home mortgage loan. If done properly, refinancing your home mortgage should help you get a lower interest rate and monthly payment. When you choose to refinance, you are essentially obtaining a new loan to pay off your existing home loan. You have the option to use a home mortgage refinance to change your adjustable rate into a fixed rate. This is a general option used to take advantage of low interest rates. Sometimes, refinancing is used for cash. Whatever the purpose or reasoning behind refinancing, one thing is certain: it is a unique decision and process for each and every individual.

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