Six Mortgage Tips for the Self-Employed - It's no secret that mortgage lenders are requiring more information from potential borrowers than they did prior to the 2008 financial meltdown. But for self-employed borrowers, qualifying for that mortgage loan is particularly difficult. In the past, self-employed business owners were easily approved for stated-income mortgages – or, loans that didn't require tax documents or bank records to verify income.
Q: When Is the Best Time to Refinance your Residential Home Loan?
A: Many people flock to refinance while mortgage interest rates are low, particularly when rates are two percentage points below their existing home loans.
Paying Points for Home Mortgage Loan Transactions - "Mortgage Points” are upfront fees that you pay in order to lower your mortgage interest rate. One point is equal to 1% of the loan amount.