Presented by Daniel Toriola Mortgage is a kind of a pledge or guarantee made by the home purchaser or borrower to repay the loan to the lender. A right home mortgage loan can save thousands of dollars in the long run. Hence, it becomes very important and crucial to the borrower Click here to know more ANNOUNCEMENT: Our WebSite Builder Plans Are Now Available With Free Trial! If You Can Use MicroSoft Word, You Can Build A WebSite.. As Easy As 1-2-3! Try Us.. What Have You Got To Lose, Anyway? Click here to know more Tips For First-Time Homebuyers By News Canada Tips For First-Time Homebuyers by: News Canada (NC)—Near record low interest rates are opening the doors of homeownership for many Canadians. "This may be the perfect time to consider purchasing a home," says Gail Kassie, Director, Mortgages and Home Financing Products, BMO Bank of Montreal. "With the variety of mortgage terms and options available, as well as low interest rates, more people are finding that they can afford to purchase a home." Kassie recommends the following "to do's" for first-time homebuyers: Find out how much you can afford, before you begin house hunting, with a pre-arranged mortgage. You can visit with a mortgage expert or try the online tools and applications that many financial institutions offer to help you determine what you can afford and what your monthly payments are likely to be. Keep in mind that if your down payment is less than 25 per cent, you need to budget for a one-time premium to insure your mortgage against default. While your down payment can be as low as five per cent, the lower your down payment, the larger the principal amount that you have to borrow and that means a larger overall interest cost. Conversely, the larger your down payment, the less your home will cost you over the life of your mortgage. Budget an additional three to four per cent of the price of your home for additional up-front costs such as land survey fees, house inspection fees and land transfer tax. Look for flexible mortgage options. For example, the ability to skip a payment or suspend payments for a few months can help you manage your monthly cash flow in an unexpected emergency. View your home as an investment. Consider its location and accessibility, the average cost of other homes in the neighborhood, and, if renovations are required, whether or not you're likely to recover the renovation investment if you sell your home in the future. "A sure way to find the best mortgage is to meet with a mortgage expert," adds Kassie. "That way potential homeowners can review all of their options with an experienced professional and they'll I Need More Time! Time management tips and tricks to organize your home, kids, wardrobe, and office. Page 1 Presented by Daniel Toriola understand exactly what they can afford before they start looking for a home." Information provided by BMO Bank of Montreal. For more information on or to find out your home financing options drop by any BMO Bank of Montreal branch or visit www.bmo.com/mortgage. - News Canada News Canada provides a wide selection of current, ready-to-use copyright free news stories and ideas for Television, Print, Radio, and the Web. News Canada is a niche service in public relations, offering access to print, radio, television, and now the Internet media, with ready-to-use, editorial "fill" items. Monitoring and analysis are two more of our primary services. The service supplies access to the national media for marketers in the private, the public, and the not-for-profit sectors. Your corporate and product news, consumer tips and information are packaged in a variety of ready-to-use formats and are made available to every Canadian media organization including weekly and daily newspapers, cable and commercial television stations, radio stations, as well as the Web sites Canadians visit most often. Visit News Canada and learn more about the NC services. The Ultimate Girl-Meeting Guide Hundreds of facts and tips about meeting women at any time and any place. Page 2 Presented by Daniel Toriola Buying A Home After Bankruptcy – Low Credit Score Mortgage Loans By Carrie Reeder Excellent credit is not required to buy a home. Of course, a higher rating will qualify homebuyers for a low rate and better loan programs. Still, buying a home after bankruptcy is easy. Although home loans following a bankruptcy discharge come with high rates, a home purchase is a great way to quickly boost a low credit rating. Here are a few tips on getting a low credit score mortgage loan. Sub Prime Mortgage Loan Programs There are many options available to homebuyers with a low credit rating. Credit scores below 680 do not qualify for prime home loans. Hence, these persons will need to speak with a sub prime mortgage broker or lender. Sub prime loans are intended to assist those who cannot obtain traditional mortgage financing. These lenders work with all types of people and credit situations. Furthermore, sub prime lenders have a multitude of different loan options. Who Qualifies for a Sub Prim Mortgage Loan? Anyone with a low credit score can get approved for a sub prime mortgage loan. However, there are certain limitations. Many lenders will not approve a mortgage loan if the borrower's credit score is below 500. In this instance, the risks are too high. Homebuyers who fall into this group may consider improving their credit before applying for a home loan. Having a chapter 7 bankruptcy, collection accounts, and judgments will not disqualify a buyer from obtaining a sub prime mortgage loan. Naturally, loans of this sort have higher interest rates. However, if the homebuyer maintains a good payment history, they will have the option of refinancing for a better rate in the future. Other Loan Options Available after Bankruptcy As mentioned, sub prime mortgage lenders offer a range of home loans for every need. Following a bankruptcy discharge, homebuyers have the option of obtaining a “no credit score home loan.” Because lenders do not offer 100% financing on these loans, buyers must be prepared to pay a 20% down payment. Another loan option available is the zero down home loan. This loan is offered to buyers with good and bad credit. Zero down home loans include 100% financing, which is perfect for first time homebuyers and buyers with little cash savings. To qualify for a no money down home loan with bad credit, your credit score cannot fall below 580. Try using http://www.abcloanguide.com for a list of Recommended After Bankruptcy Mortgage Companies http://www.abcloanguide.com/mortgageafterbankruptcy.shtml online. Their recommended companies are reputable and competitive in their rates. Abc Mortgage Consulting Sell mortgage ebook with advice and tips to help save time and money before applying for a mortgage. Page 3 Presented by Daniel Toriola Related eBooks: Buying A Home After Bankruptcy – Low Credit Score Mortgage Loans Real Estate and the Internet: New Technology, New Customers 100% Financing Bad Credit Mortgages - Which Loan Can You Qualify For With Poor Credit? California Home Mortgage Companies – How Much House Can You Afford? 2006: Demographic Profile Of Home Buyers In The United States Get more Free PDF eBooks at FreePDFeBooks.com Related Products: The Art of Kissing 101 tips to stay fit and live longer. Time Stretching Tips The Great Big Book of Internet Marketing How to keep up the SPICE in your Love Life. Malamaal.com: A genuine resource center for Quality Ebooks and Softwares This PDF eBook is for free Distribution only, it cannot be SOLD Buy Dvds & Games Wholesale & Save Money Learn How & Where To Buy DVDs & Games From The Cheapest Wholesale Sources In The US & UK. Click here to know more Powered By FreePDFeBooks.com ReBrand this PDF eBook with your Name / URL / ClickBank Affiliate ID for Free Create An Info-Product In 7 1/2 Minutes! Guaranteed! Get 900 Prewritten Business & Marketing Tips You Can Use To Create Your Own Info-Products In Record Time! Page 4
"Real Estate - Tips For First-Time Home Buyers"