{"id":52,"date":"2021-03-11T19:00:12","date_gmt":"2021-03-11T19:00:12","guid":{"rendered":"https:\/\/ebwmtg.com\/blog\/?p=52"},"modified":"2021-04-21T14:24:54","modified_gmt":"2021-04-21T14:24:54","slug":"five-fun-mortgage-facts","status":"publish","type":"post","link":"https:\/\/www.ebwmtg.com\/blog\/five-fun-mortgage-facts\/","title":{"rendered":"Five Fun Mortgage Facts"},"content":{"rendered":"\n

The process of obtaining a mortgage can be daunting and time-consuming. However, for the amount of work involved \u2013 the reward in getting your mortgage pays off in the end. We\u2019ve compiled a few fun facts about the mortgage process to give yourself a break from the daily grind. Read on!<\/p>\n\n\n\n

\u2018Till Death Do Us Part
<\/strong>The word \u201cmortgage\u201d originates from the old French words \u201cmort,\u201d meaning dead, and \u201cgage,\u201d or pledge. Your \u201cdead-pledge\u201d will cease to exist (read: die) once you pay it off, hence the name.<\/p>\n\n\n\n\n\n\n\n

What\u2019s with Red?
<\/strong>If you\u2019ve ever been to Scotland, you might have noticed an excess of red doors. Traditionally, when a homeowner paid off their mortgage, they paint their front door red. Seen as a sort of announcement, the bright color is noticeable to passersby.<\/p>\n\n\n\n

Flying High
<\/strong>In the United States, we have our own version of the quirky home exterior tradition. When a homeowner became debt-free, a winged eagle plaque was placed over the front door. While this tradition has already peaked, some homes still bear the metal remnants.<\/p>\n\n\n\n

30-Year Mortgages are New
<\/strong>Before the Great Depression, mortgages had short maturity times and usually required a significant down payment. According to \u201cThe American Mortgage Historical and International Context,\u201d<\/a> pre-Depression mortgages had variable interest rates and were negotiated yearly.<\/p>\n\n\n\n

More Value
<\/strong>In some countries, mortgages can be taken out for a higher home valuation. In the United States, the maximum value of a mortgage is 97- to 100 percent of the home\u2019s valuation. In the Netherlands, borrowers can take out loans for as much as 115 percent of the home\u2019s value; in the United Kingdom, they can borrow up to 110 percent.<\/p>\n\n\n\n

To learn more information regarding a home or commercial mortgage, contact the experts at EB Mortgage today.

<\/strong><\/p>\n\n\n\n

EB Mortgage<\/a> is a locally-owned mortgage company with experts in new home purchase, refinancing, and commercial loans. Our wholesale rates can\u2019t be beaten. We offer more products, more options, and more solutions. Our \u201c3C\u201d Process is simple: complete our pre-approval request, consider options based on your requirements, and choose the offer that suits your needs best. Call us at 866-246-0516<\/a> or e-mail contact@ebwmtg.com<\/a> today.<\/p>\n\n\n\n

Written by the digital marketing staff at Creative Programs & Systems: <\/em>www.cpsmi.com<\/em><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The process of obtaining a mortgage can be daunting and time-consuming. However, for the amount of work involved \u2013 the reward in getting your mortgage pays off in the end. We\u2019ve compiled a few fun facts about the mortgage process to give yourself a break from the daily grind. Read on! \u2018Till Death Do Us…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\nFive Fun Mortgage Facts - Blog | EB Mortgage<\/title>\n<meta name=\"description\" content=\"Five Fun Mortgage Facts - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ebwmtg.com\/blog\/five-fun-mortgage-facts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Fun Mortgage Facts - 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