Bad Credit Home Loans offers new home purchases, home refinancing, home equity loans, sub prime, FHA, Fannie Mae, bridge loans and more. We can offer consumers in Camden New Jersey a quick and easy way to get in touch with the mortgage and financial services they need. We can help you consolidate your debt by offering you a debt consolidation loan. Complete the quick application form and a finance consultant will contact you and help you reach your financial goals.
Mortgage Refinancing in Camden, New Jersey.
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Buy-Down When the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires. These are sometimes used to qualify borrowers for a loan amount that they would not otherwise qualify for but will be able to pay in subsequent years as their income increases.
Debt ratio or Debt-to-Income Ratio The ratio, expressed as a percentage, is calculated by dividing the monthly payment of long-term debts by gross monthly income.
Home Equity Line of Credit (HELOC) A revolving line of credit secured on the equity in the mortgagor's house, usable for any purpose.
Simple Interest Interest which is computed only on the principle balance.
