Financing a home: understanding points and buydowns

Article Abstract:

Home buyers can often get a reduced mortgage rate by paying points, or 1% of the loan amount for each .125 to .25% off the par rate. This can save money in the long-run or qualify a buyer for a larger loan, but savings should be checked carefully. Sellers can offer to pay points to help qualify a buyer.

Evaluation

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The home-improvement mortgage

Article Abstract:

The 203(k) program, sponsored by the Dept of Housing and Urban Development, has several benefits for homeowners and home-purchasers. For example, mortgage and home-improvement loans can be combined into one long-term loan. This and other benefits of the program are discussed.

Services, United States. Department of Housing and Urban Development

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Mortgage news for home buyers and owners

Article Abstract:

Home purchasing in 1993 remains primarily a buyer's market, despite the lowest interest rates in 20 years. However, this may change as new, liberalized mortgage loan programs are being put into effect by the VA, the FHA and Fannie Mae. Details of the programs are discussed.

Planning

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