Fixed Home Refinance Rates - Second Mortgage Rates - FHA Rates
The Mortgage Loan Outlet works with sophisticated mortgage lenders that offer discounted interest rates to homeowners online. We align applicants with lending partners who can find conventional, government and non conforming mortgage loans online. Whether you want an FHA rate, 2nd mortgage rate or an interest rate for a home equity line of credit, MLO has the best rates guaranteed online. Read more at get the current interest rates at the Mortgage Loan BLOG.
Option ARM Mortgage Rates MTA:
- Fixed Rates with a 30, 40 or 50 Year Amortization
- Deferred Interest loan amounts up to $1,800,000
- Low Rate Jumbo Mortgages to 4 Million!
- Fixed Rate Sub Prime Mortgage Refinancing
- 100% Second Mortgage Loans
Mortgage Loan Blog Posts
New FHA Mortgage Loan Programs - In a recent article written by Mr. Dornan, he reflects on the subprime mortgage problems starting in 2006 and brings us up to speed with FHA and the foreclosure crisis.
Home Refinancing with Bad Credit - The average mortgage loan size was $223,400, compared to previous week's $237,000.
There's no better time than now to use historically low
mortgage rates to your advantage you cant afford to risk a
rate rise! If you're looking for a way to consolidate
high-interest debts, fund home improvement projects, or finance large purchases
like a vacation or a child's education, we have loan package options that will
work for you!
Mortgage Rates FYI
How mortgages work: Buying vs. renting
"Should we continue renting or go ahead and buy?" That's the question
hundreds of thousands of Americans ask themselves every year.
It's not an easy one to answer. Emotions, family and personal reasons all come
into play in any home-buying decision.
No one knows what the future holds for you, your family, your job or your finances.
But we can help you understand what you're going to encounter when you embark
on the sometimes-difficult journey toward the American Dream of owning a home.
Economic differences between renting and owning
If you're looking for the best return on your money, historically you're better
off investing in the stock market than buying a house. Primary homes generally
don't earn the investment return of financial instruments such as mutual funds.
While the stock market's long-term average rate of return is in the range of
8 percent to 10 percent, housing has appreciated on average in the low- to mid-single
digits for many years. That means you shouldn't buy solely to generate an investment
On the other hand, Uncle Sam helps out by letting taxpayers deduct part of
the mortgage interest and real estate taxes they pay each year. Borrowers get
the benefit only if they pay enough in one year to exceed the standard deduction.
But that usually happens, especially during the first few years of a mortgage
when most of each payment goes toward interest rather than principal.
By the numbers ...
Say someone with gross annual income of $50,000 bought a home using a 7 percent,
30-year mortgage of $150,000 on Jan. 1, 2002. The monthly payment would be $998,
excluding taxes and insurance, and this year, that borrower would pay $9,585
in interest. If he didn't have the mortgage, he would take a $4,700 standard
tax deduction on his 2002 tax return (assuming he was a single filer). But by
itemizing his mortgage interest, he would have $4,885 more to subtract from
Sunny side of homeownership
Homeowners enjoy many other financial benefits, too. They build equity over time as home values rise and their mortgage balances shrink. They also don't have to worry about their housing costs shooting through the roof because mortgage lenders can't boost borrower rates and payments, unless those borrowers have adjustable-rate mortgages.
Cloudy side of homeownership
When something breaks at an apartment, it's the landlord's problem. When your
name's on the deed, it's yours. Someone who throws every penny into a down payment
just because homeownership sounds like a good idea is taking a big risk because
there's no money left to fix leaky pipes or buy a new air conditioner.
Potential buyers may want to hold off for other reasons. Workers on shaky ground with their employers or those who don't think they'll be able to find jobs nearby if their firms go belly up might want to wait on getting mortgages. The same goes for people who plan on leaving a job soon. The monthly payment isn't the only obstacle for this kind of customer. Closing costs and other home-buying fees, as well as the commission that most owners end up paying to real estate agents when they sell their homes, add up. People who have to sell after living in one place for only a short time can end up in the hole on their investments.
Benefits of Looking at Mortgage Rates Today
- Record Low Rates
- Lower Rates can Save You Money
- Interest Only Loans offer Lower Payments
- Tax Deductible
- Cash Out Loans
- 100% Financing Available
- 1st Time Homebuyers OK
- Poor Credit OK
- No Verification Income Loans
- Self Employed Borrowers OK
- Interest Only Loan Options
How to find the best Mortgage Rates
Free Mortgage Quote
No obligation & No cost
Are Negative Amortization Loans Risky Mortgage Options?
Some mortgage insiders consider negative amortization mortgages to be risky loans. With a deferred interest loan, the borrower gets to pick what type of payment they want each month. Homeowners can select one of three payment options.
- Fixed rate principal and interest payment
- Interest only payment
- Negative amortization with a lower start rate have one part
If the borrower selects the negative amortization payment then it only covers a portion of the interest earned. The balance of the interest earned is added to the mortgage balance, hence the term negative mortgage. The negative amortization is also called a “neg am” loan is a loan with an deferred interest loan that offers a low payment initially. A danger is the loan balance exceeding the market value of the property. If you aren't prepared for the deferred interest that could affect your home equity, then this loan is not for you. If you understand the risks, but need a low monthly payment to help you get in the right home, then this loan is for you.
US Dollar Hits 5 Year High, Mortgage Rates See Biggest Jump in 3 Years: Problems Ahead?
With the stock market continuing to rise, it is not surprising that the US dollar hit a new five year high against the Japanese Yen recently. The US dollar is stronger across the board as inflationary pressures continue to manifest while interest rates have begun to rise again. “This should keep Federal Reserve officials extremely hawkish, but don’t expect them to raise interest rates anytime soon because thirty year mortgage rates increased to 6.74% the highest level since July 2006. The 21 basis point jump over the past week is the largest rise in 3 years. Thirty year mortgage rates have been skyrocketing since the middle of May and it is certainly not a coincidence that foreclosures hit record levels in the first quarter according to the Mortgage Bankers Association as well.
More updated numbers from RealtyTrac Inc. also indicate that foreclosures are up another 90 percent last month. Federal Reserve President Moskow was accurate when he said that the increase in bond yields could reduce growth because the home market is exactly where the pain of higher yields will be felt. Consumer prices are on tap tomorrow along with the Empire State manufacturing survey, the current account balance, industrial production and the Treasury International Capital flow report. Given the rise in import prices and PPI, there is a strong chance that CPI will surprise to the upside as well. The rest of the data is also expected to be dollar positive. The Fed's discussion comes amid new signs that the housing market's downturn is worsening. Late payments and new foreclosures on adjustable-rate home mortgages made to people with spotty credit histories spiked to all-time highs in the first three months this year, the Mortgage Bankers Association said Thursday.