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What are the different types of Home Loan Mortgages available?
There are several different types of home loan mortgages available. Some the many are fixed mortgages, adjustable mortgages, balloon mortgages, and even reverse mortgages. Each has their own benefits and downfalls.
Where can one find more information regarding home mortgages?
One can find more information regarding home mortgages at certain websites that pertain to home mortgages such as MortgageCentral, AboutMortgages, MoreMortgages and other websites that provide information about home mortgages.
Which banks sell home mortgages?
There are many banks that sell home mortgages. Examples of banks that sell home mortgages includes Wells Fargo, Capital One, TCF, and Bank of America.
Can a house with a second home mortgage become a primary residence?
Yes. The designation as primary residence is irrelevant to the number of mortgages.
Are reverse mortgages a safe thing to do?
Reverse mortgages are basically home equity loans. It converts the equity that is in your home into cash. Generally, it is better NOT to do reverse mortgages. There is too much at risk. If you are living beyond your means, cut down on your spending and set a budget so you don't need to take the equity out of your house.
What kind of mortgages does Countrywide offer?
The types of mortgages that Countrywide offers are primarily home purchase loans, home refinance loans and home equity. They offer fixed rate loans and adjustable rate mortgages.
How do you sell a home with 2 mortgages?
Your asking price for the home should be for at least the total of both mortgages. At closing both will be paid off.
How much money is owed on home mortgages?
In the United States the overall total outstanding balance on home mortgages is over a trillion dollars.
Where are the best places online to find more information about home mortgages?
There are many websites and resources online that offer information about home mortgages. The best way to get more information on home mortgages is through a bank's websites like Bankrate.
What does the term jumbo mortgage refer to as it relates to home mortgages?
A jumbo mortgage is a term used to describe a home mortgage that is bigger that most mortgages. These mortgages exceed the amount that the FNMA and FHLMC will purchase.
Are californian home mortgages more expensive than Ohio?
Homes in California are typically more expensive than homes in Ohio. Because of this, mortgages for a similar house will likely be more expensive in California than in Ohio.
Are home equity loans repaid separately from home mortgages?
YES
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