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97Amortized Loan - Definition and Example
An amortized loan is one which has regular periodic payments – usually monthly but can be weekly, bi-weekly, quarterly, etc. which include amounts for both principal and interest (it may also include...
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79I Saved 200K —Is Refinancing to a 15-Year Mortgage Right for You?
I didn't sell a kidney, any part of my self, or my soul. What I did took a bit of research and time, and a decent credit score. What did I do? I refinanced my family's biggest asset, our home, to a very...
3 comments
56Home Equity Loans
Home equity loans are mortgage loans secured by the equity of the borrower's home. They are usually used as a second mortgage although first and third mortgages are possible. On a mortgaged home, you pay a...
1 comment
57Flexible Mortgage
The term flexible mortgage refers to a UK residential mortgage that offers flexibility in the requirements to make monthly repayments. Typical features include the facility tomake overpayments (more than...
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64Jumbo Mortgage
A jumbo mortgage is a mortgage loan which is above the conventional loan limit set by Fannie Mae (FNMA, Federal National Mortgage Association) and Freddie Mac (FHLMC,Federal Home Loan Mortgage Corporation). ...
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61Success Is One Hundred Percent Perspiration
ADAM, 39 and Vilma, 33 are husband and wife who led a hand-to-mouth existence at the early stage of their married life. Herself unemployed, Vilma always had a hard time budgeting the commissions Adam earned...
2 comments
52Investing Finance Jargon, Wording Explained
Smart Piggy Financing Info Allot more people are returning to investing. So I have put together some basic terms for people to hopefully understand. There are tons of terms but Hopefully I have covered the...
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70Reverse Mortgage
If you are looking for a source of fund and you are a senior citizen at least 62 years of age, you may want to take a look at the possibility of making a loan that is called a Reverse Mortgage. Reverse...
4 comments
68Adjustable Rate Mortgage
An Adjustable-Rate Mortgage (ARM) is a form of mortgage loan that is tied to the changing market trends. Its interest rate is tied to the U.S. Treasury Bills or some other economic indices. When the interest...
1 comment
67Fixed Rate Mortgage
A Fixed-Rate Mortgage (FRM) is a type of mortgage loan in which the interest rate is fixed. This means the interest rate will be the same for the entire life of the loan. This also means your monthly...
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