DailyInterest.com - Home Mortgage Loan Advice & Education
Providing Useful Information, Advice, Education
and a Fair Honest Deal on your Mortgage




Market Comments
A daily look at the bond market
and it's effects on mortgage rates

This Week's
Economic News

  • Housing Starts down 5.6%
  • Jobless Claims lowest Since April
  • CPI core up 0.2%
  • PPI corefalls 0.3%
  • Bernanke Confirmed to replace Greenspan


  • Rate Trends
    A peek at where rates are today compared to 2 weeks,
    3 mos and 1 yr ago



    what's new

    Conforming Loan Limits for
    2005 for a Home Mortgage are now $359,600




    calculators




    Welcome to our Library!

    Here you will find all the basic information that will help you to learn about the mortgage process and terms used with mortgages

    Please visit the Tips and Learning section
    for commentary, opinions and suggestions as to how to save money on your financing
    in relation to refinancing, purchasing a home and how to get a deal on your mortgage


    Check out our Glossary for a definition of all those mortgage terms.


         
    Applying
    Applying for a Mortgage Main Page
  • Documents you will need
  • Steps in the Mortgage Process
  • Good Faith Estimate
        an example
  • Good Faith Estimate
        what to expect
  • RESPA - the Real Estate Settlement Procedures Act
        What controls and governs the mortgage process and     protects consumers from abuse.
  • What NOT to do after you Apply


  • Appraisals
  • About appraisals
  • Appraisal Methods
  • Reasons for an Appraisal

    Calculators


  • Credit
  • What is a FICO Score?
  • Credit Grades
  • Worried about your Credit?
  • Improving your Credit Scores
  • Credit Statistics


  • Downpayments
  • The Basics
  • 100% Loans, Good or Bad?


  • Escrow
  • Escrow Funds
  • Escrow Waiver Fee
  • Escrows = Higher Closing Costs

    Glossary
  • Glossary

  • PMI
  • PMI - What is Private Mortgage Insurance
  • How to Calculate PMI
  • How to Cancel PMI
  • PMI or Piggyback? Which is better for you

    Points
  • Why Pay Points?
  • When is Paying Points a Good Idea?
  • Can Points be Financed?
  • Negative Points

    Prepayment
  • Ways to Pay your Mortgage faster

    Purchases
  • How Much house can you afford?
  • Downpayments

    Refinancing
  • Does it make sense for you?
  • How far should Interest Rates drop before it is worth refinancing?
  • Deducting Mortgage Interest . Can You?

    Types of Mortgages
  • Fixed Rate Mortgage
  • Adjustable Rate Mortgage
  • Interest Only Mortgage
  • Reverse mortgage
  • Balloon Mortgage
  • Bridge Loan
  • Piggyback Mortgage
  • Option ARM
  • Hybrid ARM
  • VA Mortgage




  • Harry Smith
    email Harry@dailyinterest.com
    or reach me by phone
    Office 1-248-548-7655
    Cell    1-248-514-9000
    Drew Smith
    email drew@dailyinterest.com
    or reach me by phone
    Office 1-248-548-7655
    Cell    1-248-703-7770

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    DailyInterest.com - guide to Home Mortgage Loan Advice & Education for refinancing and purchasing
    All Information located here is Copyright © 2002 - 2005


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    The Library of Mortgage Advice at Daily Interest.com