What is a simple mortgage?

Answer Getting a loan for a home can be tricky; it's a technical field with its own jargon and a wide variety of products out there. One of the more commonly misunderstood products in the mortgage industr... Read More »

Top Q&A For: What is a simple mortgage

Simple Interest Vs. Traditional Mortgage?

In a simple interest mortgage, the interest is calculated daily; with a traditional mortgage, the interest is calculated monthly. Which one is right for you depends on how timely you expect to be w... Read More »

What is a fixed simple interest mortgage loan?

A fixed simple-interest mortgage loan is one in which the interest rate remains unchanged and is calculated daily, as opposed to a traditional mortgage payment that is calculated on a monthly basis... Read More »

Does a simple interest mortgage charge interest?

A simple interest mortgage does charge interest, but it is calculated differently that on a traditional mortgage. Simple interest is based on the balance of the loan each day, as opposed to each mo... Read More »

Who Do You Talk With to Get an Interest-Only Mortgage Changed to a Fixed Rate Mortgage?

Interest-only mortgages are considered to be one of the riskiest types of home loans on the market. If you have an interest-only loan, you can take the necessary steps to convert it into a fixed ra... Read More »