I want the article on MORTGAGE for 1200 words at least... be creative contents are very...

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Finance

I want the article on MORTGAGE for 1200 words at least... becreative contents are very important as am trying to drive mortgageads and customer to my website

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Mortgage Definition A Conveyance of or lien against property estate certificates deeds to get a secure the loan In other way a mortgage is an instrument which property or real estate used for collateral its an agreement between borrower and lender The Process of Mortgage If the buyer is not having enough cash to buy the property then the respective property borrower will mortgage the loan in terms as a interest In Mortgage typically loan tenure can be 5 to 50 years Interest rates can be depending on demand and supply of the market Interest rate also depends on default risk of the lender if lender past track records are not good then interest percentage can be higher Characteristics 1 The Instrument which are used for mortgage 2 Interest rates of the mortgage 3Principal of the Mortgage 4Taxes if any 5Insurance 6 Cost of Debt 7Floating Interest rates Seven things to look for in a mortgage The size of the loan The interest rate and any associated points The closing costs of the loan including the lenders fees The Annual Percentage Rate APR The type of interest rate and whether it can change is it fixed or adjustable The loan term or how long you must repay the loan Whether the loan has other risky features such as a prepayment penalty a balloon clause an interestonly feature or negative amortization lenders will tell you how much you are qualified to borrow that is how much they are willing to lend you Several online calculators will compare your income and debts and come up with similar answers But how much you could borrow is very different from how much you can afford to repay without stretching your budget for other important items too thin Lenders do not consider all your family and financial circumstances To know how much you can afford to repay youll need to take a hard look See Answer

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