The prime interest rate is not set by the federal reserve, but instead it is determined by banks based upon factors such as the discount rate and the federal funds rate. Banks typically adjust their rates in tandem to match market changes...
Mortgage advice comes free if you look hard enough. Fortunatly the rules are pretty simple and a lot of your looking comes down to simply shopping around for the best rate. It is useful to understand the different types of rates available...
Reverse mortgages offer an option for using your homes equity as a monthly stipend to support you during your retirement. If you are 62 years of age or older you may qualify for a tax free reverse mortgage to fund your retirement...
An amortization chart is a complete schedule of payments for the entire life of a loan. Mortgage amortization charts are also useful to show the results of extra monthly payments on the total interest paid over the entire life of the loan...
Interest only mortgages can be a perfect fit for borrowers that are looking for smaller monthly payments on their mortgage or are not planning on staying in their home for a long period of time. As the name implies only interest is paid monthly...
Construction loans can be financed through a mortgage broker for home additions or renovations. With a marginal increase in your monthly expenses you can afford the room of your dreams...