What is the definition on a home mortgage between apr&rate?

Answer When you take out a home mortgage, you may see two percentages listed: the APR, or annual percentage rate, and the interest rate. Know what these mean can help you get a better idea of what you wil... Read More »

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Mortgage Definition of a Second Home?

Buying a second home provides a dream getaway location for many families, particularly locations on the coast or in the mountains away from the routine of daily life. However, new buyers need to un... Read More »

Can i qualify for a mortgage before i sell my home&satisfy the existing mortgage?

On One Hand: The Hard WayIf your credit history and financial situation are good enough, you can qualify for a mortgage on a second property. This will work just as if you were buying a second home... Read More »

What Do Mortgage Companies Charge When a Home Mortgage Is Paid Off?

Selling or refinancing a home usually involves paying off an existing mortgage. In calculating a payoff, which will satisfy and zero out the balance, all unpaid fees and interest must be included, ... Read More »

Is a home equity mortgage the same as a second mortgage?

Yes, a home equity loan IS a 2nd mortgage.Some people however, consider a "2nd mortgage" to be a closed-end fixed rate lump sum loan. While a "line of credit" is revolving and can be used over and... Read More »