Posted by admin on February 6th, 2007
Most consumers prize their credit cards as purchasing power in the form of portable plastic. But many overlook the consequences of misusing their cards until the threat - or confirmation - of debt
How It Works Credit cards use a system of borrowing that involves interest charges. A consumer making purchases with his or her card receives monthly statements that specify the amount owed. The cardholder must pay at least the minimum billing amount that is determined by the card issuer; interest charges are usually waived if the bill is paid in its entirety each month. The cardholder also has the right to dispute billing and charging errors.
During the "grace period," as known as the "free period," the cardholder is free of finance charges, as long as he or she pays the balance
The Annual Percentage Rate (APR) is the cost of credit for borrowers interest rates
Overcoming Credit Card Debt When consumers fail to pay their credit card bills, repeatedly pay only the minimum billing amount, and/or improperly manage their card(s) in other ways, they may find themselves trapped in debt. According to Yahoo! $9,000 in credit card debt, and the average credit card interest rate is about 18.9% .
For homeowners consolidate debt
America's Lending Partners Four Loan Offers mortgage expert
Posted by admin on February 5th, 2007
Getsmart - This firm offers you quotes for a Refinance
Mortgage Loan Summary
The mortgage scenario is for February 4, 2007.
The name of the loan applicant is Joyce.
This borrower wants to do a refinance.
Property Basics
This property would be identified as a single family
residence.
The property is located in Woodland, California.
This property would be identified as a primary residence.
Mortgage Background
Length of the loan in years is 15.
The borrower has a current credit score of 720.
The documentation level for this mortgage will be stated
documentation.
Loan rates today
The mortgage rate on this new loan will be 6.25%.
The APR is calculated at 6.41%.
Mortgage Size
This real estate is currently worth $383,750.
The property has a current loan of $245,600.
The cash out from this refinance is around $61,400.
The new mortgage loan will be for $307,000.
The loan to value (LTV) ratio on this property is 80%.
The Monthly Mortgage Payment
The new monthly payment is $2,632.
If this were an interest only loan the monthly payment
would be $1,599.
This is lower than a regular monthly payment by $1,033.
Articles:
http://www.archerpacific.com/Buyers%20Cash%20To%20Close%20Mortgage%20Calculator.htm
300
LOAN TIPS
Posted by admin on February 5th, 2007
Getsmart - This firm offers you quotes for a Refinance
Mortgage Loan Basics
This mortgage scenario is for February 4, 2007.
The loan applicant's name is Melissa.
This borrower's goal is to do a refinance.
Example Property Background
This property is a single family residence.
This piece of real estate is located in South Gate,
California.
This property type is a rental property.
Mortgage Type
The borrower's loan term in years is 30.
The middle credit score on the credit report is 740.
This borrower's loan will have full documentation.
Today's mortgage rates
The example mortgage rate on this new loan will be 7.50%.
The APR is calculated at 7.60%.
The Loan Size
This real estate property is currently worth $408,750.
The current mortgage loan on the property is a $261,600.
This borrowers wants to cash out around $65,400.
The new loan size is $327,000.
The loan to value ratio on the property is 80%.
The Monthly Payment
The monthly mortgage on this will be $2,286.
If this were an interest only loan the monthly mortgage
payment would be $2,044.
In this example this is smaller than a regular monthly
payment by $243.
Articles:
http://www.archerpacific.com/mortgage%20quick%20tips.html
300
LOAN TIPS
Posted by admin on February 5th, 2007
Getsmart - This firm offers you quotes for a Refinance
Mortgage Profile
This mortgage example takes place on February 4, 2007.
The mortgage applicant's name is Willie.
This borrower wants to get a refinance on the property.
Property Summary
This property would be identified as a single family
residence.
The property is in Dallas, Texas.
This property would be described as a rental property.
The Loan Type
This borrower's loan term in years is 30.
The current credit middle score is 720.
The documentation level for this mortgage will be full
documentation.
Today's current mortgage rates
The mortgage rate for this new loan will be 6.38%.
The mortgage's annual percentage rate is 6.47%.
Loan Size
The appraisal value of the property is $381,250.
The property has a current mortgage of $244,000.
The cash out from this refinance is approximately $61,000.
The new loan will be for $305,000.
The loan to value ratio on the property is 80%.
Calculated Mortgage Payment
Each month the mortgage payment will be $1,903.
If this were an interest only loan the monthly payment
would be $1,620.
This is less than a regular monthly payment by $282.
Articles:
http://www.archerpacific.com/mortgage%20quick%20tips.html
300
LOAN TIPS
Posted by admin on February 4th, 2007
Getsmart - This firm offers you quotes for a Refinance
Mortgage Basic Profile
This mortgage scenario is for February 3, 2007.
The borrower's name is Kenneth.
This borrower wants to refinance the mortgage.
Property Summary
This real estate property is a single family residence.
The mortgage will take place in Berkeley, California.
This property type is a primary residence.
The Loan Type
This borrower's loan term in years is 30.
This borrower has a current middle credit score of 735.
The loan will have stated documentation.
Today's mortgage rates
The mortgage rate on this new loan will be 6.38%.
The annual percentage rate is 6.47%.
The Mortgage Size
This real estate is currently worth $390,000.
The current loan on the property is a $249,600.
The total amount of cash received is approximately
$62,400.
The new total loan size is $312,000.
The loan to property value (LTV) ratio is 80%.
Monthly Loan Payment
The monthly mortgage payment on this is $1,946.
The monthly payment on an interest only mortgage would be
$1,658.
This is lower than a regular monthly payment by $289.
Articles:
http://www.archerpacific.com/mortgage_loan_co-borrowers.htm
Posted by admin on February 4th, 2007
Getsmart - This firm offers you quotes for a Refinance
Loan Basics
The loan example takes place on February 3, 2007.
The name of this borrower is Eric.
This borrower's goal with the mortgage is to get a
refinance done on the property.
Property Summary
This property would be considered a condominium.
This piece of real estate is in Waco, Texas.
This property type is a primary residence.
Mortgage Background
This borrower's loan term in years is 30.
The current credit score is 720.
The mortgage will have stated documentation.
Today's current mortgage rates
The interest rate for this new loan will be 7.50%.
The APR is calculated to be 7.60%.
Mortgage Amount
This real estate is currently worth $383,750.
The loan on the property is a $245,600.
The amount of cash received is around $61,400.
The total new loan size is $307,000.
The loan to value ratio on the property is 80%.
The Monthly Payment
The monthly payment is $2,147.
An interest only monthly loan payment would be $1,919.
An interest only loan payment each month saves the
borrower $228.
Articles:
http://www.archerpacific.com/mortgage%20quick%20tips.html
Posted by admin on February 4th, 2007
Getsmart - This firm offers you quotes for a Refinance
Mortgage Loan Basics
This loan example is for February 3, 2007.
The borrower's name is Edward.
This borrower wants to get a refinance done on the
property.
Property Basics
The property would be considered a 1-4 unit property.
This real estate is located in Buffalo, New York.
This property type is a primary residence.
Loan Type
The length of the loan in years will be 30.
The current credit report indicates that the credit score
is 755.
The loan will have full documentation.
Today's mortgage rates
The interest rate on this mortgage is 6.38%.
The mortgage's annual percentage rate is 6.47%.
The Mortgage Amount
This real estate property is currently worth $400,000.
This property has a current loan of $256,000.
The cash out from this refinance is around $64,000.
The new loan will be for $320,000.
The loan to property value ratio on this property is 80%.
Monthly Payment
Every month the mortgage payment is $1,996.
If this were an interest only loan the monthly payment
would be $1,700.
This is lower than a regular monthly payment by $296.
Articles:
http://www.archerpacific.com/mortgage%20quick%20tips.html
Posted by admin on February 3rd, 2007
Low-Rate Mortgage &
Home Equity Loans Mortgage
Refinance
Mortgage Purchase or
Refinance
Mortgage Basics
The mortgage scenario is for February 3, 2007.
The name of the loan borrower is Tina.
The borrower's goal with the mortgage is to get rid of
debt through consolidation.
Property Basics
The property is a single family residence.
The mortgage will take place in Windsor, California.
The property type is a primary residence.
The Loan Type
The length of the loan in years will be 40.
The borrower has a credit score of 750.
The mortgage will have full documentation.
Today's mortgage rates
The interest rate for this new loan will be 6.63%.
The annual percentage rate will be 6.71%.
The total debts that need to be paid off is
Total credit card balances $1,351.
Outstanding car loans $5,935.
Student loans $523.
Other debt that need to be paid off $165.
The total debts that need to be consolidated $7,974.
The Mortgage Size
This real estate is currently worth $391,250.
The mortgage on the property is a $250,400.
The total new mortgage size is $258,374.
The loan to value (LTV) ratio is 66%.
Calculated Monthly Payment
The monthly mortgage on this will be $1,536.
If the loan were interest only the monthly payment would
be $1,426.
In this example the interest only loan payment each month
saves the borrower $109.
Articles:http://www.archerpacific.com/mortgage%20quick%20tips.html
Posted by admin on February 3rd, 2007
Low-Rate Mortgage &
Home Equity Loans Mortgage
Refinance
Mortgage Purchase or
Refinance
Loan Background
The mortgage scenario is for February 3, 2007.
The loan applicant's name is Terry.
The mortgage is to consolidate and pay off debt.
Property Background
This residency type is single family residence.
The property is located in La Canada-Flintridge, California.
This property would be identified as a primary residence.
Loan Type
The length of the loan in years is 30.
The middle credit score on the current credit report is
745.
This borrower's loan will have stated documentation.
Today's loan rates
The mortgage rate for this mortgage is 6.13%.
The mortgage's annual percentage rate is 6.22%.
Current total consumer debts to be paid off
Current credit cards owed $278.
Car loans $6,113.
The total current student loan $689.
All other debts that need to be paid $121.
Total consumer debt to pay off $7,201.
The Loan Size
The property is currently worth $391,250.
The property has a current loan of $250,400.
The new mortgage will be for $257,601.
The loan to property value ratio on this property is 66%.
The Monthly Mortgage Payment
The monthly payment is $1,565.
With an interest only loan the monthly payment would be
$1,315.
An interest only payment each month saves the borrower
$250.
Articles:http://www.archerpacific.com/mortgage%20quick%20tips.html
Posted by admin on February 3rd, 2007
Low-Rate Mortgage &
Home Equity Loans Mortgage
Refinance
Mortgage Purchase or
Refinance
Mortgage Basics
This loan example date is for February 3, 2007.
The name of the mortgage borrower is Tammy.
The borrower wants to consolidate and pay off debt.
Example Property
This property is a townhouse.
This piece of real estate is in Savannah, Georgia.
This property would be identified as a primary residence.
The Loan Type
The loan has a length in years of 30.
The current credit middle score is 760.
This borrower's loan will have stated documentation.
Current mortgage rates
The mortgage rate on this new loan will be 6.38%.
The mortgage's annual percentage rate is 6.47%.
Current total debts to be paid off
Total credit card balances $15,732.
Total auto loans $7,158.
Total student loans $2,566.
Other debts that need to be paid off $186.
Total consumer debt to pay off $25,642.
Mortgage Amount
The property would be considered worth approximately
$418,750.
The property has a current loan of $268,000.
The new mortgage will be for $293,642.
The loan to value (LTV) ratio on the property is 70%.
Calculated Monthly Payment
The new payment each month is $1,832.
The monthly payment on an interest only mortgage would be
$1,560.
In this example the interest only payment is lower than
the regular payment by $272.
Articles:http://www.archerpacific.com/mortgage_note_buyer.htm
