RE/MAX TODAY'S REALTY

255 Hwy 7 East
Ste 1
Hutchinson, MN 55350
Phone:(320) 587-2341

Guide to Mortgages


15, 30 and 40 Year Loans
Advantages and disadvantages of 15, 30 and 40 year loan terms
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All Cash
What about a cash offer?
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Alternative Loans
What are the risks of "b" and "c" loans?
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Assumable Loans
How to find out if a loan is assumable
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Bankruptcies and Foreclosures
Financing after bankruptcy, foreclosure and bad credit
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Credit
How to get a copy of your credit report, correcting a mistake on a credit report
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Easy-Qualifier Loans
What are "no-doc" loans?
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Fannie Mae
Who is Fannie Mae?
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Federal Housing Administration
Common questions about the Federal Housing Administration
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Fixer-Upper Loans
The U.S. Department of Housing and Urban Development's Section 203 (K) rehabilitation loan program . . .
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Interest Rates
Low interest loans, ARMs, how to lock in an interest rate
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Lease Options
A lease option is an arrangement with you and a seller with the option to buy a house after you have rented it . . .
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Lock-Ins
What is the value of a mortgage lock-in?
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Low Down Loans
"No-cost" loan, is misleading because borrowers are actually paying a higher interest rate . . .
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Mortgage Credit Certificate
The Mortgage Credit Certificate program allows first-time home buyers to take advantage of a special federal income tax credit
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Negative Amortization
Negative amortization occurs when monthly payments are insufficient to pay the interest accruing on the principal balance . . .
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No Money Down
Though some real estate experts advise against it, home buyers interested in buying a house with nothing down can do so . . .
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Parent and Gift Loans
Do I have to disclose a parents gift?
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Prepayment
Benefits of prepaying a mortgage
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Prequalifying and Preapproval
By being prequalified, you will know exactly how much house you can afford
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Private Mortgage Insurance
Private mortgage insurance, or PMI, usually is required on loans with less than a 20 percent downpayment
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Refinancing
When is the best time to refinance?
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Reversed Annuity Mortgages
A reverse mortgage is a special type of loan available only to older homeowners with full or nearly full equity in their homes
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Seller Financing
Seller financing is when a seller helps to finance a real estate transaction . . .
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State Programs
Does Minnesota offer help for homebuyers?
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Veterans Administration
Information on Home Loan benefits for veterans
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Whom to Contact - Government Loan Programs
List of mortgage brokers, regulatory commision, information on secondary market
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Whom to Contact - Home Loan Options
Where to get information on PMI, mortgage brokers and finding the best loan
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