Indiana Real Estate Post

Indiana Mortgage Rates

The interest rate on a loan used to buy real estate. Some mortgages have fixed mortgage rates, meaning that it remains constant over the life of the mortgage, while adjustable-rate mortgages have variable mortgage rates, meaning that interest rates change according to prevailing interest rates, at least within certain limits. The mortgage rate, along with the amount of the loan and the time until it comes due, helps determine one's monthly payment. See also: Mortgage-backed security We serve the following communities within Indiana as well: Indianapolis Mortgage Rates, Noblesville Mortga...

July 23rd, 2012 | Mortgage Info, Indiana Mortgage Rates

Interest Rate

Interest Rate is the percentage of the value of a balance or debt that one pays or is paid each time period. For example, if one holds a bond with a face value of $1000 and a 3% interest rate payable each quarter, one receives $30 each quarter. The percentage of the interest rate remains constant (usually), but the amount one pays or is paid changes according to the amount of the balance or debt. For example, if one pays off part of the principal on a loan each month, the amount one pays in interest decreases even though the rate remains the same.

July 16th, 2012 | Mortgage Info, Interest Rate

What is Real Estate?

Land and the improvements on it. Real estate is one of the primary (and indeed one of the only) assets whose value does not depreciate over time. Depending on the particular title, ownership of real estate may include mineral rights to any geophysical aspects occurring thereon. Ownership of real estate does not automatically include the right to develop it, depending on local regulations. However, development of real estate (for example by building a house on it) usually increases the value. While supply of real estate does not vary, demand may change greatly depending on its par...

July 9th, 2012 | Mortgage Info, What is Real Estate?

What is a Mortgage?

A loan used to buy real estate. A mortgage is secured by the property it is used to purchase. One must make monthly payments on a mortgage, and there is a set term before full payment is due, often 15, 20, or 30 years. Some mortgages have fixed interest rates, while others have variable interest rates. If one defaults on a mortgage, the bank making it may take possession of the real estate and sell it to recover its investment. Some banks, notably savings and loans, specialize in making mortgage loans.

July 2nd, 2012 | Mortgage Info, What is a Mortgage?

Adjustable Rate Mortgage

A mortgage with an interest rate that changes periodically. Generally speaking, an adjustable rate mortgage is linked to some major benchmark rate; for example, the interest rate may be stated as "LIBOR + 1%." The mortgage may or may not have a cap on how much the interest rate can rise or fall, or on how often the interest rate may change. Very often, the initial interest rate for an adjustable-rate mortgage is lower than that for a fixed-rate mortgage. This allows more people to qualify for an adjustable-rate mortgage; however, this kind of mortgage can be risky bec...

June 25th, 2012 | Mortgage Info, Adjustable Rate Mortgage

Mortgage-Backed Security

A Mortgage-Backed Security (MBS) is a derivative whose value is derived from unpaid mortgages. This entitles the owner to a claim on the principal and interest payments on the particular mortgages backing the security. MBSs pay an interest rate that is usually related to the interest rates the homeowners are paying on their mortgages. The equivalent of the coupon on a mortgage-backed security is a percentage of the interest and principal paid on the mortgages backing the security. An obvious risk to an MBS is the possibility that interest rates may decline, causing homeowners to refinance ...

June 17th, 2012 | Mortgage Info, Mortgage-Backed Security

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