 A Comprehensive Guide to Mortgage Finances
Home Ownership Percentage from 1996-2005
"99% of everything done in the world, good or bad, is done to pay a mortgage. So, perhaps the world will be a better place if everyone rented."
- Nick Naylor
Welcome to our guide to mortgage finances! In plain sight, a mortgage is simply a loan for real estate property: you borrow a whole bunch of money using your *property* as collateral and promise to pay back your loan over time plus interest. In actual practice, it is much more complicated. You have to deal with the mortgage shopping process along with the possibly different fees and offerings from different lenders. Some of the common complaints we hear in mortgage finances include:
- Choosing the wrong mortgage type;
- Not enough time to prepare the required documents;
- Credit history and score problems/errors;
- Hidden fees and costs; and
- Loan amount getting out of hand.
This guide is compiled to address the mortgage finance process. Our goal is to hit all the highs and lows you can run into - so that you will know where the sweet and gotcha spots are. We welcome others to share their experiences with us to include with this guide. A great place to star is via the Money Economics Forums.
Of course, you may choose to read this entire tutorial, but most people appreciate information specifically relevant to who and where they currently are. Therefore, the information has been divided in order to individually address your needs. It is suggested you begin by determining which of the following categories you fall under:
Everyone, for general readings about mortgage finances:
Someone that is preparing for a new mortgage loan:
Someone that is preparing for a mortgage refinance:
Someone that is thinking of cashing out via a Home Equity Loan:
Someone that is thinking of cashing out via a Home Equity Line of Credit (HELOC):
| Top 4 Mortgage Finances Tools & Tips |
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1.) Figure out how much it will take so you know what to expect.
Knowledge is power - it is hard to prepare for it when you don't know the costs.
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2.) Check your credit report and scores to make sure you are ready.
The last thing you want to hear is your credit is rotten! Check it via free trials with:
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3.) Shopping around for your mortgage finances, the smart way!
You have many options. Always compare and save! Some of the major mortgage finance search companies include:
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4.) Tools and checklist useful for mortgage finance related matters.
Applications that will help make your mortgage finance easier.
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 We always value your feedbacks and suggestions to improve our guides. As a matter of fact, we love to hear from our readers! You are the inspiration that keeps us moving foward.
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