Comments for Mortgage Marketing Guide

Comment on Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job? by ed m

ed m — Mon, 22 Jun 2009 09:36:26 +0000

i do not see any problem with you getting the refinance and i would not worry about the business end affected it!!!

Comment on Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job? by Mortgage Planner

Mortgage Planner — Sun, 21 Jun 2009 14:41:59 +0000

A lender wants to see a history of stable and continual employment and income and will consider

- your debt-to-income ratio (debt divided by income)
- the loan-to-value ratio (mortgage divided by appraised value)
- your credit history.

Based on what you have stated, as long as you continue to have stable employment and income, no increase in debt and maintain your credit score, your plans to start a business should have no impact on your ability refinance your mortgage.

Comment on What is the differences between all these different mortgage terms? by Big daddy

Big daddy — Fri, 19 Jun 2009 05:47:27 +0000

It’s very hard to say what mortgage would be good for you since I don’t know what your goals are for your kids if you have any, retirement goals, etc. I’ll go with the options presented. Basically the 30 year fixed is pretty simple. You will have the same payment for 360 months. Your interest rate is locked and will not change. The 5/1 arm means that you will make interest only payments for the first 5 years (similar to an interest only mortgage), and the begin making principle and interest payments after the 5th year, but your rate is adjustable and will most likely rise. The 7/1arm is the same except your making interest only payments for 7 years, then your loan adjusts. The one statement you make that caught my attention was that your planning to stay in the house for at least 5 years. Does this mean that you could leave before 7 years? If so, the 7/1 could be an option. If you know your not staying in the home for more than 7 years, why pay the principle? If your not sure, then go with a fixed product as life happens then all of the sudden, 7 years later your payment doubles and your budget is shot. Your correct, there are many, many programs out there, but the job of your broker or loan officer is to talk to you, know you and customize a mortgage solution that not only steers you in the correct path now, but achieves your future goals. Good luck and feel free to ask any questions

Comment on Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job? by Nanci T

Nanci T — Fri, 19 Jun 2009 04:05:55 +0000

I believe the answer you’re looking for can be found on this site. They’ve got lots of info about the subject.

Comment on Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job? by Keith A

Keith A — Tue, 16 Jun 2009 19:18:48 +0000

If there is no debt increases involved, then does the mortgage company really need to know about your home business? Go to and check out all of the articles on this very sort of thing. You can find all you need to know there.

Comment on What is the differences between all these different mortgage terms? by efflandt

efflandt — Tue, 16 Jun 2009 19:12:03 +0000

30 yr fixed is usually safest for the long term because your interest rate and payments remain the same (you can always pay down principal early to reduce total interest and number of payments, as long as you avoid a prepayment penalty).

The 5 or 7 year ARM resets after that number or years which could end up at higher cost and higher payments varying each year after that, depending upon interest rates at that time. The reason for the current mortgage mess is that people who could barely afford the initial rates did not realized how much a 3-4% interest rise would affect payments they could no longer afford. They expected to sell or refi by then, but rising interest rates and dropping property values made that impossible.

Comment on What is the differences between all these different mortgage terms? by ChrisB

ChrisB — Tue, 16 Jun 2009 19:04:48 +0000

Interest.com has an EXCELLENT table for checking out all the pros/cons of different mortgages. I believe it’s just what you need:

I would also recommend Bankrate.com for looking up general mortgage rates and subsequent payments. Don’t forget to factor in escrow and property taxes in their estimates.

Comment on I have a mortgage on one home, can I get a second mortgage to pay for another house? by sara sentor

sara sentor — Sat, 06 Jun 2009 17:19:20 +0000

Refinance after bankruptcy is pretty much like substituting it with a completely new mortgage. And second mortgage is one such option for you. It’s good for you to know that you can actually refinance with second mortgage even though if you are suffering from bad credit. So look out for good reliable lender and work on refinancing.
For more on bankruptcy mortgage refinance and second mortgage refinancing, log in to: respectively.

Comment on I have a mortgage on one home, can I get a second mortgage to pay for another house? by Debt Guru

Debt Guru — Sat, 06 Jun 2009 05:36:31 +0000

Also use a free quote service such as to get quotes from at least 3 - 4 lenders. that way you will know where you stand, and will be better informed to make your decision.

Comment on I have a mortgage on one home, can I get a second mortgage to pay for another house? by EDDIE F

EDDIE F — Wed, 03 Jun 2009 21:49:56 +0000

I was once in your situation. Don’t worry, everything will work out for you =)

A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.

Good Luck!