Archive for the ‘Mortgage Refinance’ category

Follow the Best Mortgage Advice and You Will GET the Best Mortgage Deals

September 21st, 2011

The recent recession has made it increasingly harder to find a decent mortgage deal without having to put down a large deposit. 100% mortgages can no longer be found, and most lenders these days require a 20 to 30% deposit before they will even consider looking at your case. It is now common knowledge within the industry, that to find the best mortgage deal you will most probably need to put down a deposit of 40%.

This high percentage means that unfortunately many people have been priced out of the market and the average age of first-time buyers has risen to an age of 40 years plus!

Fear not though! There is no need to be downbeat, because with the correct mortgage advice there is hope. Some great mortgage deals are still out there, which will require a smaller deposit. Please follow our simple methods to help find the best mortgage deal for you.

Mortgage advice method 1

Compare Prices – the Internet has never had so many different websites, forums and social media sites to help you chat with experts, understand pricing structures and play one price off another. This market is just as competitive as more advertised markets such as car insurance. The best piece of advice is to spend a good amount of time comparing costs to find the best mortgage price for you, never rush into making this decision, if the price looks too good to be true, take a closer look.

Mortgage advice method 2

Get the Full Picture – it is very important to remember that the main quoted interest rate will not count for all that you pay. Read up and understand all the fees that you will have to pay. In doing this, you won’t get an unexpected surprise when you are asked to pay more than you thought. There is a great selection of mortgage comparison tools out there to help you understand the full costs of your mortgage.

Mortgage advice method 3

Avoid extra charges and interest – it is best to steer clear of mortgages which require to pay early repayment charges after your primary rate has ended. By doing this, you can switch to a better mortgage deal at any point. You should also pay attention to adding extra mortgage fees to your existing mortgage. Remember, you will end up paying interest on this and all these costs can add up.

Mortgage advice method 4

Good mortgage advice is generally free and easy to find so you should take full advantage of this fact. Whether you decide to phone a local mortgage company or find someone online it is pretty much guaranteed that you will find some useful help. Most online companies will offer a free no obligation mortgage quotation.

To summarise, the real key to finding the best mortgage for you and your circumstances is to persevere and find as many different prices as possible. Don’t feel pressured into taking this first offer until you have many different prices to provide a good comparison. Use these quotes in your favour, to help you haggle down the best price, and soon you will have found the perfect mortgage deal.

Commercial Mortgage Notes Offer Opportunities For Profit In Bleak Economy

September 21st, 2011

Lending is considered one of the oldest practices on the planet. Chances are, each of us will borrow property, cash, or other assets at some point in our lives. Today, investors are looking for any way possible to earn additional income. They use it to protect themselves from the economic downturns being experienced all too frequently. By purchasing commercial mortgage notes, they can expand their financial portfolios without jeopardizing the security of their investments.

A commercial note is considered a secure, fixed income asset. At specified intervals, it pays a certain amount of interest. Clients invest their money in first mortgages for commercial real estate, receiving a higher rate of return than offered by many other investments, with yields of nine to 11.5 percent common. Funds invested are pooled, which minimizes the risk for each investor. Properties are usually protected by both fire and title insurance policies. The investment firm earns profits from yield spread and loan fees.

Banks make money by paying account holders a smaller percentage of interest than they charge for lending their money to borrowers. Therefore, it is no surprise that investing in commercial notes has become more popular. Investors enjoy higher returns than they would if they kept their money in a bank account. At the same time, their altruistic nature is satisfied knowing that the money they supply is invested in secured mortgages for commercial real estate.

Some investors approach this arrangement from a more entrepreneurial angle. They invest in the properties directly, rehab them, and then sell them at a profit. By offering seller financing, they are able to retain the mortgage note and receive regular loan payments. In past years, many people earned their fortunes by doing this, but the commercial real estate market is not what it used to be. With more companies going under, there is an excess of commercial properties in inventory.

When it is no longer profitable for an individual investor to serve as a commercial note holder, there are several ways to get out of the situation. The individual can sell owned properties, often at a financial loss. Alternatively, the person can find a commercial note buyer willing to purchase the note. If the investor has hope that the real estate market will improve, part of the note may be sold, with the individual retaining the other portion.

Those who have never sold a mortgage note before may worry that the process is involved and takes a long time. The most established note buyers provide free quotes and are able to close a transaction within 30 days. As an added benefit, they often pay closing costs that include a credit report, property appraisal, and title work.

No matter what stage investors are with commercial mortgage notes, they should be aware of their options. There is money to be made by investing in commercial mortgages but it is not what it used to be. If individuals find themselves holding an undesirable commercial note, a note buyer can help them get rid of it.