Mortgage Options - The Mortgage Professor

Questions on Mortgage Options

What Is a Temporary Buydown? Why Is it the Most Effective Way of Using Excess Cash to Reduce the Expense Ratios Used to Qualify Borrowers? Why Is it Easy to Be Ripped Off on a Temporary Buydown?

What Is a Demand Clause?

Is There Any Advantage Closing a Loan on One Day of the Month as Opposed to Any Other Day?

Which Prime Borrowers Should Opt For a Prepayment Penalty? Is There Any Way Sub-Prime Borrowers Can Avoid a Prepayment Penalty? Is There Any Way a Borrower Who Has Prepayment Penalty Clause in His Note Can Get Out of it?

When You Take Out a Mortgage, Does It Make Sense to Buy a Life Insurance Policy That Will Pay Off the Balance if You Die?

What is a Portable Mortgage? How Much Does it Cost? For What Type of Borrower Might it Be a Useful Option to Buy?

What is an Assumption? Who Does it Benefit and Who Does it Hurt? What Determines its Value? When Might it Lead to a Wrap-Around? Why Don't Lenders Offer Assumability as an Option? What is the Danger to Sellers in Having Loans Assumed by Buyers?

What Is a No-Cost Mortgage? For What Kinds of Borrowers Is It Most Suitable?

Why Are Small Loans Often Not Available or Only Available at Very High Rates?

Do All Lenders Offer No-Cost Loans? How Have Borrower Interests Changed, Post-Crisis Compared to Pre-Crisis?

MY QUESTION IS NOT HERE. I WOULD LIKE TO LEAVE IT FOR THE PROFESSOR