Share The Importance Of Getting A Pre-Approval on Mortgage Loan By Kim Wong / a couple of years ago Let’s us briefly explain to you what is pre-approval on mortgage loan? A mortgage pre-approval is one of the important process when applying a mortgage loan. The homebuyers will need to acquire a pre-approval letter by consulting with a bank (lender). Through the pre-approval letter, you’ll get to know the maximum amount that you can borrow for you […]
Share 6 Mortgage Mistakes By Kim Wong / a couple of years ago During the 2007-2009 financial crisis, the United States economy crumbled because of a problem with mortgage foreclosures. Borrowers all over the nation had trouble paying their mortgages. At the time, eight out of 10 borrowers were trying to refinance their mortgages. Even high end homeowners were having trouble with foreclosures. Why were so many citizens […]
Share Can Your Mortgage Affect Your Retirement? By Kim Wong / a couple of years ago Financial planners continue to sound the alarm. If you’re like most people, you haven’t saved enough for retirement. In fact, you may well be dangerously behind. One of the big reasons might be your mortgage. In other words, your home is costing you too much and it’s robbing your retirement. But wait. Before you say, […]
Share Are You Eligible For A Reverse Mortgage By Kim Wong / a couple of years ago Looking to get a mortgage and compare home loans is not a simple process? There are many different types of home loans, and lenders can be very strict about who is able to take out a line of credit. For instance, each lender establishes their own criteria for a down payment, but most often you’ll […]
Share Mortgage LTV Ratio & Margin of Finance for Home Loans By Kim Wong / a couple of years ago In Malaysia, it is normal to expect 90% LTV ratio for a residential mortgage loan (more commonly known as a housing loan). But Bank Negara closely regulates the LTV ratios for residential mortgage loans to prevent uncontrolled speculation. If a person has 2 or more existing residential mortgage loans, LTV is capped at 70% for […]
Share 5 Signs a Reverse Mortgage Is a Good Idea By Kim Wong / a couple of years ago The main reason to take out a reverse mortgage is that your home equity is your biggest asset, you’re short on cash and you don’t have any other viable way to get the money you need for the expenses of daily life. This is not a decision to make lightly, though. It’s likely taken you […]
Share Reverse Mortgage Pros And Cons By Kim Wong / a couple of years ago If you’re a homeowner who is at least 62 years old and exploring ways to finance retirement, you may be considering a reverse mortgage: a product that allows you to convert your home equity into cash. Whether you are looking for money to pay for a home improvement, cover healthcare expenses or pay off an existing […]
Share Mortgage For Old Borrower By Kim Wong / a couple of years ago Mortgages are often considered to be an option for the middle-aged group but the desire to own a house can come at any age. Thus, even the older group may want to avail mortgages to finance their house. Honestly, there are very options available for this group. If you are an older borrower it may […]
