Mortgage Refinancing - MJ Financial Chiefs

<h1 class="entry-title">Tag: Mortgage Refinancing</h1>

23 Nov

Introduction To Interest Rates & Ways To Reduce Interest Expenses

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Regarding home loans, interest is basically the cost of money charged to the borrower (homebuyer) in order to compensate the lender. An interest rate is applied to the loan amount which produces a dollar amount of interest that is charged to the borrower. As such, loan repayments made by the borrower will cover the interest charged during the period and a portion of the actual loan amount (principal).

27 Oct

Home Equity – Impacting the Cost and Refinancing of Mortgages

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When talking about property, Equity refers to the amount of the property value that is owned by the home-owner. When purchasing property, equity is initially dependent on how much of your own cash you use and is then over time is affected by changes in the property value.