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What are COFI Mortgage Loans?COFI mortgage loans are adjustable rate mortgages (ARMs) whose interest rates are based on an index called the 11th District Cost of Funds Index, also known as the COFI. ARM mortgages, as you may already know, have interest rates that vary depending upon the value of some financial index. The COFI, which is pronounced the same way as coffee, tracks interests paid to and by banks that are members of the Federal Home Loan Bank Board in the states of California, Nevada, and Arizona, which make up the 11th District. Interest rates for a COFI based ARM tend to change slower than those of other adjustable rate mortgages because the COFI is a slow moving index. Therefore, if interest rates are low, COFI ARMs may have rates that are greater than those of other adjustable rate mortgages since the index hasn’t had time to adjust. And conversely, when interest rates are high, COFI ARMs may have lower rates. The slow changing COFI may be to your advantage because when interest rates go up, your COFI based mortgage will retain lower interest rates for some time. On the other hand, if interest rates go down, a COFI mortgage will retain higher rates, but you may have the option of refinancing your loan and obtaining a new mortgage that better reflects the new lower rates.   Reverse Mortgage Information With the state of affairs concerning supplemental income for our nation’s seniors and the rising cost of prescription and other medical care costs, many individuals have begun to seek reverse 
Assessing Interest Only Mortgages Pros and Cons One of the trends in mortgage loans in recent years has been a push for so-called interest only loans. The interest only mortgage pros and cons can be spelled out fairly simply to help borrowers
Residential Mortgage Bridge Loans Many times homeowners find themselves in a familiar situation; the home they currently have a mortgage on no longer suits their needs and they have their eye on the perfect residential home they
Sweat Equity, Home Financing Answer for Many For many people the dream of owning their own home is just that, a dream. Between the down payment, closing costs, credit history checks and numerous other requirements it can be extremely difficult
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