Archives
Mortgages are a mystery to those who have never applied for a mortgage loan. The most asked question: What are mortgage loan interest rates based on?Technically, a number of factors can influence a mortgage loan interest rate. However, the two factors that have the greatest impact are a mortgage loan applicant’s credit standing and the [...]
To choose the right type of mortgage between a fixed rate mortgage and a variable rate mortgage (more commonly known as an adjustable rate mortgage or ARM); you need to understand the difference between the two. Fixed rate mortgages are that the interest rate remains fixed at a certain percentage over the life of the [...]
A capped rate mortgage has an interest rate that cannot rise above a pre-determined level for a specified period of time. After the capped rate period expires, the interest rate of the mortgage reverts to the lender’s Standard Variable Rate (SVR).A cap and collar mortgage is similar to a capped rate mortgage except that is [...]