Home Loans

It’s going to get a little more difficult to buy a home. Home loan seekers will now have to fund about 30% of the total cost of a house from their own resources because the Reserve Bank has just mandated that banks should exclude stamp duty and registration charges while calculating the property value. More >

MORTGAGE lending fell last month as first-time buyers struggled to raise the deposits demanded by banks. Banks and building societies lent a total of £13.1 billion in October, 4% down from September, figures have revealed. More >

Home and auto loans are set to get more expensive for individuals while corporates will have to pay more on their borrowings with the Reserve Bank of India raising interest rates yet again. In its bid to control inflation, now treading close to the double-digit mark, the RBI on Thursday hiked its key policy rates -— repo and reverse repo — by 25 basis points, the 10th such increase since March 2010. More >

Soured mortgage bonds continued to hamper the Federal Home Loan Bank of Seattle, which was the only institution in the 12-bank system to post a net loss during the first quarter.

Overall, the Federal Home Loan Banks reported $358 million in combined net income for the first quarter, up 10% from a year earlier, amid reduced losses on mortgage investments. More >

If your home is on the market, then you may already know that you’re about to enter the high season for buyers. Spring, summer and fall are when most people look for, and buy, homes. In fact, April through July is when the majority of homes change hands, with June traditionally being the strongest month for home sales. More >

Home loans with interest only can be beneficial or risky, depending on the current financial situation, and projected future finances. While lenders may be quick to point out the benefit to taking advantage of this type of financing, always be cautious. They may be attractive, but make sure to evaluate the risk that also may be involved. It is important to weigh all options and fully understand each option before making a decision. More >

With current mortgage rates hovering between 4-5% a lot of homeowners are strongly considering refining their already low-mortgage rates that they obtained just a few years ago. Today’s mortgage rates are actually the lowest they’ve been in 50 years for a 30-year mortgage. Before that time most mortgages in United States were 20 or 25 year mortgages, which means that today’s mortgage rates are pretty much the lowest historical mortgage rates that consumers have ever seen on a 30-year-fixed-rate mortgage or home loan. More >

Refinancing simply means paying off your mortgage loan with another mortgage loan that carries a lower interest rate.

For homeowners with mortgage rates that are 1.5 to 2.0 percent higher than current prevailing rates, refinancing can reduce their current monthly payments. More >

Loans for home construction  provide funds for homeowners to alter their current house or build a dream house on a piece of land. Before getting funds to build, consumers need to decipher what type of home construction will take place. More >