Sentences with phrase «mortgage after some period of time»

This mortgage allows a person to convert their ARM into a fixed - rate mortgage after some period of time.

Plus, as far as I know, if you are foreclosed on / file bankruptcy, assuming you get your financial house in order, you should be able to get another mortgage after a period of time.

Not exact matches

Immediately applying for a handful of new credit cards, a new car loan and / or a new mortgage within a short period of time after your divorce won't help to improve your credit report and credit score.

Things improved after that, as the mortgage cost of purchasing of a residential property gradually fell all the way to 297 weeks in 2001, mainly as a result of stagnating nominal housing prices during that time period.

If you're getting insurance in order to make sure your family can cover key expenses that won't be applicable after a certain period of time, like your child's college or your mortgage, a term policy is likely a better fit.

With an adjustable rate mortgage (ARM), your interest rate remains fixed for a specified period of time, usually 5 to 7 years, and then adjusts in line with a benchmark interest rate periodically after that, usually annually.

Refinancing a home mortgage is probably one of the few financial transactions that someone who has gone through bankruptcy can achieve within a small period of time after the bankruptcy has been discharged.

If you're getting insurance in order to make sure your family can cover key expenses that won't be applicable after a certain period of time, like your child's college or your mortgage, a term policy is likely a better fit.

Therefore, experts state that for periods of time over one year and up to 4 years, it is advisable to apply for a 1 to 3 year adjustable rate mortgage loan while for periods of time over 4 years and up to 7 years, it is advisable to select a mortgage loan with a variable rate lasting the length of the loan or a balloon loan with the balloon payment due date at least a year after the month you are planning to sell the property (to cover yourself from unexpected circumstances).

The benefit of the fixed - rate on a reverse mortgage is that the borrower will know with certainty how much the loan balance will be after a period of time.

After that period of time the rate can adjust up or down based on the wording in the mortgage document.

After the predetermined period of time, the loan converts to an adjustable rate mortgage (ARM) for the remaining term of the loan.

Of course it's not as simple as I describe it, because the mortgage lender will want to know where the money for the down payment came from, so you can't register your second mortgage until after the deal closes, so you will be unsecured for a period of timOf course it's not as simple as I describe it, because the mortgage lender will want to know where the money for the down payment came from, so you can't register your second mortgage until after the deal closes, so you will be unsecured for a period of timof time.

An adjustable rate mortgage (ARM) is a mortgage loan in which the rate changes based on a schedule or after a fixed period of time.

Adjustable rate mortgages (ARM) have an initial low rate that can then be increased after a predefined period of time.

Savers will be happy and the brokers too will be benefiting from the increase in the mortgage rates after a long period of time when the figures remained at a historical low percentage.

In an adjustable rate mortgage (ARM), it is common for the interest rate to remain fixed for a period of time and after which the interest rate adjusts periodically, either monthly or annually, to coincide with some market index.

However, it's important to beware of opening other accounts within a short period of time after your mortgage becomes active since this may drop credit scores substantially.

Variable Interest Rate: This is the type of interest rate on a mortgage loan that usually starts out fixed, but can begin to increase and fluctuate with market trends after a set period of time, usually 3 -5 years.

After this specified period of time, the buyers has to pay the mortgage loan in full.

After all, a disabling injury or illness can leave you off work for long periods of time; this protection will allow you to continue to pay down your mortgage while you focus on your recovery and return to work.

After the deal was closed about a month and a half later a different lender contacted me about payments on the property, I had to prove to them at least a half dozen of times that I no longer owned the property and they were sold the mortgage during an acuistion period.

The adjustments that happen annually after the initial fixed period will bring the interest rate closer to the current rate at the time of adjustment, which protects the lender because they have chances to increase the interest rate later on if interest rates rise after the mortgage has begun.

You also want to consider future monthly expenses that will have to be continued to be paid after your gone such as your mortgage or rent payments, plus day to day living expenses which should be extended over a period of time.

If you're getting insurance in order to make sure your family can cover key expenses that won't be applicable after a certain period of time, like your child's college or your mortgage, a term policy is likely a better fit.

For example, mortgage loans in Canada generally end after five years, after which time you have the option of choosing a shorter amortization period.

The benefit of the fixed - rate on a reverse mortgage is that the borrower will know with certainty how much the loan balance will be after a period of time.

Balloon Mortgage: a mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the bMortgage: a mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the bmortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the borrower.