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The Risks of Negative Amortization Home Mortgage Loans
[Real-Estate:Mortgage-Refinance] Negative amortization loans, also known as deferred interest loans, neg am and payment option ARMs (adjustable rate mortgages), are home financing options that have payment adjustment caps in addition to interest rate adjustment caps. As housing prices skyrocketed, these loans became more popular because they gave homebuyers more power to purchase more house for a lower initial cash outlay. The 1% start rate also makes house payments more affordable for the first few years of the loan.

Benefits of Fixed Rate Home Equity Loans
[Real-Estate:Mortgage-Refinance] There are two types of home equity loans: home equity installment loans (HEILS) which are generally fixed-rate loans, and home equity lines of credit (HELOCs) which are adjustable rate loans. Second mortgages consistently offer lowered interest rates than those of credit cards and unsecured personal loans, resulting in lower monthly payments. The tax deductibility and low interest rates of a home equity loan also make it attractive. The saving from consolidating credit card debt make these fixed rate home equity loans even more luring.

Payments Rising? Refinancing Adjustable Rate Mortgage Loans
[Real-Estate:Mortgage-Refinance] The popularity of adjustable-rate mortgages means that nearly 25% of all outstanding U.S. mortgage debt is due for an interest-rate reset within the next two years, according to Economy.com, a Web site run by Moody's Corp. Some $400 billion in loans will get a new rate this year, and another $2 trillion are set to move in 2007. With rates on the rise, it is good idea to start weighing your options. Interest rates have gone up considerably during the past few months and now could be the time to lock in on a fixed-rate mortgage.

Manufactured Homes vs. Modular Homes: Understanding Differences for Home Loan Financing
[Real-Estate:Homes] Many wonder what the difference is between a manufactured home and a modular home because both may be placed in a land-leased community or on private property. The differences are in how it is assembled and erected on the site as well as the building codes each must follow. HUD regulates the home's design and construction, strength and durability, transportability, fire resistance, energy efficiency and quality control.

Home Mortgage Loan Tips: History of Fannie Mae
[Real-Estate:Mortgage-Refinance] Fannie Mae was chartered in 1938, as the Federal National Mortgage Association (FNMA), with the responsibility of creating a secondary market for home mortgages. It operated under direct federal control. In 1968, the Federal National Mortgage Association was partitioned into two separate entities—one wholly owned by the government and known as the Government National Mortgage Association (Ginnie Mae), and the other to retain the Federal National Mortgage Association (Fannie Mae) name. It was privatized by legislation enacted in 1968 and became fully private in 1970.

Jumbo Refinance Mortgages from Sub Prime Lenders for Borrowers with Bad Credit
[Real-Estate:Mortgage-Refinance] Conforming loans are known as "A" loans. These are loans that are funded by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Jumbo loans are loans that exceed the maximum limit funded by Fannie Mae and Freddie Mac (currently $417,000 for single family homes). Jumbo loans, bad credit mortgage loans and any other type of non-conforming loan are known as "B" loans. "B" loans are more typically referred to as sub-prime loans which are underwritten by sub-prime lenders.

Deferred Interest Mortgages: Investing the Money Saved from a Neg Am Payment Can Make You Money
[Real-Estate:Mortgage-Refinance] Negative amortization loans, also known as deferred interest loans, payment option ARMs (adjustable rate mortgages), neg am loans and other titles, are loans with interest rates based on MTA, COFI and other indices that have payment adjustment caps in addition to interest rate adjustment caps. With interest rates rapidly rising, these have been an item of controversy because of how they can result in loss of equity and an increased mortgage balance.

Home Loans: Zero Down Financing is a Reality for First Time Homebuyers
[Real-Estate:Mortgage-Refinance] In the face of rising interest rates, many lenders are now offering 100 percent home loans at near-market rates to conventional borrowers. These no-down-payment loans are generally targeted toward people with good credit (typically, FICO scores of 720 and higher) but not a lot of cash. This is in part because the two agencies that buy many of the loans lenders make, Fannie Mae and Freddie Mac, have shown willingness during the past couple of years to purchase mortgages with less money down than ever before. "We've been buying lower and lower down payment mortgages and we will buy 3 percent down mortgages at this time," Fannie Mae spokesman Clyde Ensslin points out.