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http://www.carpentermortgage.com The latest news from carpentermortgage.com, a Capenter Mortgage Services Web site. http://www.carpentermortgage.com/tools/mortgage-loans.jpg http://www.carpentermortgage.com en-us Copyright carpentermortgage.com Thu, 20 Nov 2008 02:14:58 -0500 Thu, 20 Nov 2008 02:14:58 -0500 http://blogs.law.harvard.edu/tech/rss LoansInteractive.com Loan Officer Websites and Technology info@carpentermortgage.com info@carpentermortgage.com http://www.carpentermortgage.com/What_to_expect_for_closing_costs.htm What to expect for closing costs Closing on a property is a very challenging time for a would-be homeowner. Being informed, either through your mortgage broker, your real estate agent, or through self knowledge is the best thing you can be when going through this procedure. A good real estate agent can help you tremendously. They should know the local market well enough to help you save money in whatever way they can. Since closing costs are handled differently in different areas, having a Sun, 16 Nov 2008 17:45:54 -0500 http://www.carpentermortgage.com/What_to_expect_for_closing_costs.htm http://www.carpentermortgage.com/Mortgage_Glossary.htm Mortgage Glossary A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z A Abstract (of title) A written summary of the title history of a particular piece of real estate. Acceleration Clause A provision of a mortgage or note which provides that the entire outstanding balance will become due and payable in the event of default. ARM (Adjustable Rate Mortgage) A mortgage in which the interest rate is adjusted periodically, Sat, 15 Nov 2008 19:15:09 -0500 http://www.carpentermortgage.com/Mortgage_Glossary.htm http://www.carpentermortgage.com/Loan_Modification.htm What is a Loan Modification? A Loan Modification is a permanent change in one or more of the terms of a loan allowing the loan to be reinstated which typically results in a payment the borrower can afford. It is interesting to note that in most cases a homeowner in need for mortgage help will indeed qualify for a loan modification. To ensure that you understand what a loan modification will actually do for you, consider the following facts: A loan modification is indicated when the Sat, 15 Nov 2008 19:05:06 -0500 http://www.carpentermortgage.com/Loan_Modification.htm http://www.carpentermortgage.com/FAQ.htm FAQ 1 What types of documentation do I need for the application?Based on the loan program you choose, the exact documents required will vary. In general, you should bring the following: Federal income tax statements and verification of any additional income Your two most recent W2's. Current paycheck stubs Recent bank statements Asset and liability information (stocks, bonds, other real estate, etc.) 2 How do I know which type of mortgage is best for me?There is no simple Sat, 15 Nov 2008 18:12:42 -0500 http://www.carpentermortgage.com/FAQ.htm http://www.carpentermortgage.com/Adjustable_Rate_Basics.htm Adjustable Rate Basics By Robert Rosefsky, Personal Finance 8th edition, John Wiley amp; Sons, NY, 2002. An adjustable rate loan, most simply stated, means that your interest rate can be adjusted up or down over the months and years. By adjusting the interest rate your monthly payments might also change. In order to make an intelligent choice between a fixed rate and an adjustable rate loan, you have to understand the jargon of the adjustable loan and how it works. For example: Your Sat, 15 Nov 2008 18:02:20 -0500 http://www.carpentermortgage.com/Adjustable_Rate_Basics.htm http://www.carpentermortgage.com/To_Refinance_or_Not.htm To Refinance or Not? That is the question. When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you again pay most of the same costs you paid to get your original mortgage. These costs may include settlement costs, discount points, and other fees. You also may be charged a penalty for paying off your original loan early, although some states prohibit this. The total expense for refinancing a mortgage depends on the interest rate, Sat, 15 Nov 2008 17:47:01 -0500 http://www.carpentermortgage.com/To_Refinance_or_Not.htm http://www.carpentermortgage.com/Residentil_Loans.htm RESIDENTIAL LOANS Applying for a Mortgage Taking out a home loan is probably the biggest financial decision you'll ever make. We'll help make it an easier one by answering your questions and keeping you fully informed every step of the way. See the answers below to get the information you need. For answers to your specific questions,email or call (866) 519-9317 to talk directly with one of our experienced loan consultants, M-F 8:30 a.m. to 8 p.m., Sat, 15 Nov 2008 17:15:46 -0500 http://www.carpentermortgage.com/Residentil_Loans.htm http://www.carpentermortgage.com/Applying_For_A_Residential_Loan.htm WHAT INFORMATION WILL BE NEEDED FOR THE LOAN APPLICATION ? Anything you submit over our website or deliver to us is fully secure, and we never, ever share it with anyone except by permission. In order to complete an application and close your loan transaction, please gather and be prepared to provide copies of the following items for each borrower on the loan (to the extent applicable). FOR ALL LOANS: Borrower Sat, 15 Nov 2008 16:50:25 -0500 http://www.carpentermortgage.com/Applying_For_A_Residential_Loan.htm http://www.carpentermortgage.com/The_Loan_Process.htm AN OVERVIEW OF THE LOAN PROCESS There's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity check. There are four main steps involved in getting a loan: STEP ONE: DETERMINE HOW Sat, 15 Nov 2008 15:01:35 -0500 http://www.carpentermortgage.com/The_Loan_Process.htm http://www.carpentermortgage.com/Mortgage_Information.htm INFORMATION The process of getting a mortgage is not only mentally taxing but can be very emotional as well. You want to cover all your bases but you're committing to a property and a loan that you have to live with for some time. We are here to make your journey easier. You are welcome to learn at your convenience from all of our online reading materials but don't forget that we are available to answer any question that you have about your mortgage Sat, 15 Nov 2008 14:55:39 -0500 http://www.carpentermortgage.com/Mortgage_Information.htm