F.A.Q
What Is A Loan To Value (LTV) And How Does It Determine the Loan amount?
LTV stands for loan-to-value, which is the ratio of total mortgage-related debt to the property's value. The LTV ratio reflects the amount of equity borrowers have in their homes. The higher the LTV the less cash homebuyers are required to payout of their own funds.
Both a home equity line of credit and a home equity loan are secured by the equity in your home. A home equity line of credit works like any other revolving line of credit, and is very similar to a credit card. Equity Lines are flexible, in that they allow a homeowner to write checks or make purchases at different times. Withdrawals against the equity in your home is on an ongoing basis. Unfortunately with a line of credit you pay interest only when you use your funds.
APR stands for annual percentage rate. It is the annualized cost of credit, expressed as a percentage. The APR calculation considers certain fees to reflect the cost of credit in addition to interest.
Yes, We have 2nd mortgage loan programs that allow you to borrow up to 125% of your home's value.
FICO scores are numeric representations of your credit profile. The higher the FICO score the better credit risk you are.
Fixed Rate Mortgages: Payments remain the same for the life of the loanAdjustable Rate Mortgages (ARMS): Payments increase or decrease on a regular schedule with changes in interest rates; increases subject to limits
Featured Mortgage Articles:
Homeowner's Insurance | Debt Overload | Credit Cards | Successful Remodeling | Managing Mortgages | Refinancing Loans | Home Improvement | Moving Tips | Homeownership Mishaps | Best Appraisals | Clean Your Credit | Real Estate InvestmentsApply Online | About Us | Contact Us | Free Mortgage Quotes | Our Programs | Home Equity Loans | Second Mortgages | Refinance Mortgage | FAQ | Home Equity Loans - Home Page
