Home Loan Columbia

Total Lending Concepts is your hometown mortgage lender.

We offer home loans to fit every situation.https://www.tlclender.com/

In India, buying a property is quite an apprehensive task for a middle-class person.

But somehow, a buyer is still confused over varieties of loans available.

Home loan Vs plot loansHomebuyers in India have two types of choices when it comes to purchasing homeBuilt-up/under-construction property orResidential plotUsage is clear towards the residential requirement of the buyer, in the case of built-up property, the plot seems more abstract.

But some key differences between the two are mentioned below.Basic differenceHome loans are used for buying a constructed or under-construction property.

Loan Type:The plot bought out of a plot loan has no fixed deadline to its construction or usage as a residential house.

In case of a home loan, the applicants can use the loan amount to buy a developed residential property or for construction of a residential building through a real estate agent.

What is FHLMC or Federal Home Loan Mortgage Corporation?In 1970 the Congress chartered the Federal Home Loan Mortgage Corp (FHLMC).FHLMC is a stockholder-owned, government-sponsored enterprise (GSE) that is formed to keep money flowing to mortgage lenders in support of homeownership and rental housing for middle-income Americans.The FHLMC, more famously known as Freddie Mac, purchases, guarantees, and securities mortgages to form mortgage-backed securities.Understanding Freddie MacWhen Congress passed the Emergency Home Finance Act in 1970 that is when Freddie Mac was created.This was done with an intention to expand the secondary mortgage market while reducing interest rate risk for banks.In 1989 Freddie Mac underwent a reformation and was turned into a shareholder-owned company, now under the Financial Institution Reform, Recovery and Enforcement Act (FIRREA).Freddie Mac was created to improve and intensify the flow of credit to different parts of the economy.

In 2017 Freddie Mac and a similar GSE, Fannie Mae securitized and guaranteed about 46% of U.S. mortgage originations.They do not originate or service mortgages, but they buy loans from mortgage lenders.After purchasing these large number of mortgages, the GSEs combine and sell them as mortgage-backed securities, which tend to be very liquid and carry a credit rating close to that of U.S. Treasuries.This process also frees up the capital of mortgage lenders, who can then lend that same money again.Because of its ties with the U.S. government, Freddie Mac is allowed to borrow money at interest rates lower than those available to other financial institutions resulting in it coming under criticism.With this funding advantage, large amounts of debts known as “agency debt” or “agencies” are issued and Freddie Mac successively purchases and holds a huge portfolio of mortgages called a “retained portfolio.”There is the belief that the size of the retained portfolio combined with the complexities of managing mortgage risk will result in huge systematic risks to the U.S. economy.Critics have argued that the unchecked growth of Fannie Mae and Freddie Mac is the cause of the credit crisis in 2008 which turned into the Great Recession, and some disagree with this argument.Difference between Fannie Mae and Freddie MacAs part of an amendment to the National Housing Act Fannie Mae (Federal National Mortgage Association or FNMA) was created in 1938.Fannie Mae’s was considered a federal government agency, and its role was to act as a secondary mortgage market that could purchase, hold, or sell loans that were insured by the Federal Housing Administration.Under the Charter Act of 1954, Fannie Mae stopped being a federal government agency and became a private-public corporation.There is a lot of similarity between Fannie Mae and Freddie Mac.

Both are public limited companies that were reserved to serve a public mission.The source of the mortgages they buy is the main difference between the two.Fannie Mae purchases mortgage loans from major retail or commercial banks, whereas Freddie Mac gets its loans from smaller banks, which are called “thrift banks” or “savings and loan associations,” which focus on providing banking services to communities.ConclusionFreddie Mac is a stockholder-owned, government-sponsored enterprise (GSE) to support homeownership for middle-income Americans it was chartered by Congress in 1970.Freddie Mac buys a large number of loans from mortgage lenders, to combine them and sell them as mortgage-backed securities.Federal Home Loan Mortgage Corp. (FHLMC) has an officially recognized nickname as Freddie Mac.

Both Fannie Mae and Freddie Mac are publicly traded GSEs.While Fannie Mae buys mortgage loans from major retail or commercial banks, Freddie Mac obtains its loans from smaller banks that is the only difference between the two.The unchecked growth for Fannie Mae and Freddie Mac was the main reason that led to the credit crisis of 2008 leading to the Great Recession.https://www.compareclosing.com/blog/fhlmc-federal-home-loan-mortgage-corp/

Total Lending Concepts is your hometown mortgage lender.

We offer home loans to fit every situation.https://www.tlclender.com/

Getting a home loan when you are self employed is not as difficult as one may think.

As long as your credit score and earnings can prove that you will be able to pay back the money, then it should go through no problem at all.

With these four tips and some help from your lender, you can get started on the journey that so many Australians are just now beginning themselves!

Here is are some helpful  Tips for Getting a Home Loan if you’re Self-Employed

Many owners decide to give their houses a makeover during the end of the year festival season.

If this is your first time, then you must try to work out things better and get the best home renovation loan.

It helps you design and remodel your home in the best possible manner.What is meant by a home renovation loan?

A home renovation loan is an amount of money given by financial institutions to home owners to work on their property.

From a good income to a high credit score, you can grab the best home improvement loan at the best rate of interest.

A good income makes you eligible for instant approval as well as a low rate of interest.

Equated monthly installments (EMI) are used to pay off principal and interest every month; for the principal, the borrower repays the loan every month, and for the interest, the bank the interest due on the outstanding loan amount is paid by the borrower so that over a period of years, the loan is paid off completely.The EMI depends on three factors: loan amount, interest rate, and the period of the loan.

EMIs can be calculated in the following ways:  Flat-rate method - The flat-rate formula can be calculated by adding the principal loan amount and the interest on the principal, and the result is divided by the number of periods multiplied by the number of months.

You will be guided by an executive for the whole process.

EMI for personal loans- Personal loans can help you with a better future.

Start investing loan money to have a better future.

Tenure: It is time that you take to repay the entire loan amount, including the interest rate.

However, a lot of banks won’t even consider approving a home loan until full earnings are in place with one to two years of financial records required.

Whether you’re a doctor, dentist, or vet, getting your degree is a long, arduous and expensive process.

While it’s important to consider the professional and educational debts that have accrued, getting on the first rung of the property ladder is also important.How Doctor Home Loans can helpProfessional Lending Solutions has an understanding of how many medical professionals earn from when they are interns, right through to when they reach their specialization.

This means we can lend up to 100 percent finance on owner-occupied property.

It’s also possible to organize 95 percent finance on an investment property.”Unique situationsA medical income is very stable and Professional Lending solution’s consultants have a comprehensive understanding of that income.

“We can tailor and structure the loan to suit many different scenarios or situations.”Finding time to find the best home loan for medical professionalsWhile understanding the income and earning potential of medical professionals is essential, Professional Lending solution consultants also have a good insight into the day-to-day schedules of their clients.“We know our clients don't just work from nine to five, and often they can't take phone calls.

Are you planning to build your dream home?

If so, a construction loan may be the right option for you.

Construction loans are short-term loans used for new home construction.

At Loan Workout Group, We offer many new construction loans that fit nearly every new home construction need.

At the point when you are ready to make the vision of your new home a reality, let our experienced team assist you with arriving at your objective.