Sunday, November 23, 2008

Basic Facts About Home Mortgage

It would be in your best interest to go for a mortgage plan that does not include the payment of a private mortgage insurance. Private mortgage insurance is a common feature of a mortgage plan, especially the ones that are traditional in nature. Private mortgage insurance, more often than not, drains your pockets and leaves you with practically next to nothing in terms of savings.

It is important that you understand the function of mortgage brokers. A mortgage broker is an individual who is in the best position to give you advice about mortgage home plans. You can go to a mortgage broker to obtain the best mortgage plan for your needs. Never think you can do it all on your own if you aren't skilled and experienced in such matters.

A mortgage company often demands the fulfillment of certain conditions before the approval of a mortgage loan. Most mortgage loan companies require you to have a particular job and a steady source of income before you get approved for a mortgage loan. To get a mortgage loan, you will have to be of a certain age and in the USA, the legal age is eighteen.

Two popular options that accompany any mortgage loan plan are fixed and variable interest rates. Your financial capability will usually determine whether you are good for a fixed or variable interest rate.

Private mortgage insurance is ideal for people who have bad credit because it is not an obstacle. You maybe expected to pay up to 45 dollars on a standard 100,000 dollar home monthly if you use private mortgage insurance to get the cash you want to use to buy a home. Some people actually use private mortgage insurance to climb out of the pit of debt.

The decision to refinance your mortgage isn't one that should be taken lightly considering the risks that come with it. You may lose several hundreds of dollars on your home if you choose the wrong refinance plan for your home. Before you go ahead to refinance your home, you should speak to a professional financer about the best plan for you.

A home equity mortgage is a loan plan that centers on the equity of your home. With a home equity mortgage loan, you can easily borrow part or all of the equity on your home. Many people prefer home equity mortgage loan because it is tax deductable.

The fifty year mortgage plan is one that has been created in response to high real estate prices. With the fifty year old mortgage plan, you can pay lower monthly premiums and buy an expensive house. Usually with a 50 year mortgage loan, the loan is mortised after 80 years.

The Second Mortgage Home Equity Loan

A second mortgage can also be referred to as a home equity loan. It is in essence a secured loan that is second, or subordinate, to the first mortgage against the property. The key issue for anyone getting this type of loan is the amount of equity they have in their home. This will ultimately determine the amount of money that can be secured for the home owners use.

Equity is the amount of money that is paid down on the home, or it can be the value of the home minus any loans owed on the home. The main reason for taking out a second mortgage is to take equity from your home and turn it into cash in pocket. What this means is that if you have enough equity in your home you can borrow money using your home as collateral. There are three basic types of loans to choose from: the traditional second mortgage, a home equity loan, or a home equity line of credit.

A second mortgage should not be confused with a mortgage refinance or re-mortgage. When you refinance your first mortgage you are replacing your old loan with a new loan, usually at a better interest rate. A second mortgage, or home equity loan, is another loan in addition to the primary loan, which will result in two monthly payments. It is important to distinguish the two to make sure that two payments will not seriously affect your monthly budget.

The interest paid on a second mortgage, up to the first $100,000 borrowed, is tax deductible provided that the loan is on your primary residence. It should be noted that interest rates on home equity loans are generally higher than a first mortgage, usually in the 2-4% higher range. But the interest rate on a this type of secured loan will be lower then on an unsecured loan, such as a car loan, and much, much lower then you will find on a credit card.

The common reasons to get a home equity loan are to pay off high interest credit cards or other higher interest rate debts, refurbishing the home, urgent family matters such as education, medical, etc. This is called debt consolidation and refinancing and is a good way to tap the asset value of your home to meet your investment and budget needs, and helps you avoid incurring high interest unsecured debt like credit cards. If you have extensive credit card debt, and are not making progress in paying it off on a monthly schedule, a second mortgage may be a good move.

There are a couple of things that anyone getting a home equity second mortgage should be aware of. A second mortgage puts a second charge on your home, meaning that the second mortgage provider can take a share of any proceeds if your home has to be sold. What is worse, if you pay the first mortgage but fail to pay the second, that mortgage provider can seize your home, even if the sum involved is relatively small.

Getting a second mortgage home equity loan can be a good way to use the equity in your home to do any number of things. Like all financial decisions using a second home loan should be carefully considered in all aspects. If it makes sense and fits within the monthly budget then it is something to be strongly considered.

Shopping Is The Way To Find The Best Mortgage Refinance Loan

How do you find the best home loan mortgage refinance for your financial situation. You shop. Just like you would for anything else. Whether you have refinanced your home mortgage loan before or not you should still look around.

Do not assume that your current lender is your best option. It is only natural to think that if you have been paying your mortgage on time every month that the lender who holds your current mortgage is the best place to go again. They may very well be, but you should do yourself and your family a favor and find our for sure.

Mortgage refinancing is a very competitive business. There are plenty of lenders who want your business. The main thing is to get some quotes and do it with established lenders. Especially if you are shopping online.

New lenders can get there practice on someone else. We are talking about your home and your money. Established lenders have the experience to do the best job for you. The problem with the internet is anyone can build a website in one day. That is not the type of lender or mortgage broker you are looking for.

Let the lenders know you are shopping around for the best rates and are not making a decision today. This will take some of the pressure off of you immediately as well as give each lender the incentive to come up with the best rate and the best mortgage loan package. After all they are competing for your business. You get bids on home improvements and refinancing your mortgage is really just another home improvement if you think about it. You are trying to improve yourself financially.

Once you have gotten several mortgage rate quotes and your quote includes monthly payments, terms, and closing costs, it is time to sit down and compare all of the information you have compiled. Don't just look at monthly payment. Determine what is the most important reason you want to refinance.

For some people it is consolidating debts. Others need some cash right now. Interest rates might be at an all time low and it is a great time to lower your monthly mortgage payment. For you it might be to pay your home off early and you need to shorten the life of the loan.

To find the best home loan mortgage refinance takes a little bit of thought and effort, but is worth it in the long run.

Home Mortgage Loan Myths You Should Stop Believing In

There are a number of home mortgage loan myths that hinder people from getting the mortgage that can actually solve your financial problems. Here are some mortgage myths you have to let go of.

If you are an average person who does not have a comprehensive know-how about how a home mortgage loan works, getting one can be quite an overwhelming process. You will probably worry about your credit, whether you make enough money or not, and if you will qualify for your target amount. What makes the worrying even worse is that there are many myths all over that tend to hold back many of those who are actually qualified. For your sake, here are some mortgage myths you should stop believing in.

Myth No. 1: A home mortgage loan is impossible for those who have bad credit standing.

The Real Deal: Those with good credit standing have as much right to get a mortgage as those who have a bad one. Besides, the latter needs it more, right? Most, if not all lending firms offer mortgage options for those who have bad credit standing. These options have been designed most specifically for those with bad credit. Though terms may vary, you still have the chance to fix your financial problems with a good mortgage. All you need to do is inquire.

Myth No. 2: A mortgage loan is hardly ever possible for those who are self-employed.

The Real Deal: Though it may be a little more difficult for one who is self-employed to get a home mortgage loan from traditional banks due to lack of income documentation, there are many loan options offered by lenders that require low documentation for approval. You will be required of only a few documents to support your income to qualify for the amount that you apply for.

Myth No. 3: Home mortgage terms are impossible to negotiate.

The Real Deal: While the negotiability of mortgage terms varies greatly from one loan to another, it is never absolute. What you should do is talk it out with your lender to see what options are available for you, both now and in the long run. Most home mortgage loan terms can be tweaked and tailored to suit your needs. Besides, in the mortgage world, there is no such thing as a one size fits all loans. Thus, before looking around for the perfect home mortgage loan, make sure you know what your needs are, do your own research, pick a type that you think is best, and then negotiate accordingly.

Myth No. 4: Refinancing is only worth it if the interest rates go down by at least 2%.

The Real Deal: This myth has been in and around for many decades now. Take note that if you do the math, even a half percent difference can make a significant difference, especially if you are dealing with thousands of dollars. So, the best thing for you to do is to use one of the many home mortgage loan calculators available online and see how a little difference in rate can go a long way in relieving your financial difficulties.

Debt Consolidation Mortgage Loan: How To Clear Your Debts

Debt consolidation mortgage loan is an advance that a debtor takes out on his home. This is similar to taking a second mortgage on your home. However, unlike the second mortgage that you take for usual purposes, this refinance is for paying off a consolidated debt.

Debt Consolidation

A debt cycle is vicious and ensures that the debtor never be able to move out of the debt situation. This happens because debts accumulate interest quickly, while the debtors income remains steady. The moment a debtor has enough to pay the loan; he discovers that the accumulated interest has snowballed into an amount that he cannot hope to pay. And the cycle continues, dragging him deeper into debt.

If you are a debtor and wish to avoid filing for bankruptcy, you need to think of options such as consolidating your debts. In all probability, a debtor has many loans that he took from various sources, and he is now finding it hard to repay the loans. This is partly because there are too many loans for him to repay.

By merging all debts into a single amount, he can manage the refinancing better. This means that he has less to worry about: lesser monthly payments, lesser interest, fewer threats of creditors showing up on his doorstep. Once the debts are merged into a single debt, and your credit advisor has talked on your behalf with your creditors and reached an agreement, you need to think about how to repay this debt.

Second Mortgage

A debt consolidation loan is used for two purposes:

1. To pay off the first mortgage
2. To pay off the consolidated debt

This is essentially a second loan that you take on your home. Once the first mortgage is repaid, you need to get to work on paying off your debts. There are many ways of doing this:

1. Use the mortgage loan to clear off all of your arrears.
2. Use the consolidation program to relieve part of your arrears, and make changes in your lifestyle to save for the rest of the amount that is due.
3. Find another source of income, or get a new job, to clear part of the loan.

How you repay the debts is entirely up to you. A debt consolidation mortgage loan is meant to help you out of the debt cycle. It must not become a habit, because each new debt will make your financial situation precarious.

Debt Consolidation Loans For Bad Credit

Is your credit less than perfect? Are you seeing more and more bills come in that you are unable to pay on time every month? Are you ready to get rid of that debt and start a debt free lifestyle but wondering how you can do that with the bad credit you have acquired? If this sounds like you, then you should know that there is help around the corner. There are debt consolidation loans for bad credit that you can look into to becoming debt free. You will find that many places that allow you take out a loan for your debt, when you all ready have bad credit know the risks that are involved and that is why they take the precautions that they do. Let us look at what those precautions are.

Simple Signature Loan for Debt Consolidation

Depending on just how bad your credit is, you may or may not qualify for the regular signature loan that you can get for debt consolidation. There are some places however, that will allow you to take out a loan so that you can be on your way to becoming debt free. Nevertheless, they also look at your credit. If your credit is really bad, you may be declined. But no worries there are still many more options for you to consolidate your debt with a loan for bad credit.

Collateral Loan for Debt Consolidation

So your credit is just too bad for the ordinary signature loan for debt consolidation. Let’s look at the collateral loan for debt consolidation. When you take out a collateral loan, you are putting something up that in the event that you do not make your payments on the loan, the company can come and collect whatever it is that you have put up for collateral. Let’s say you put up a vehicle for collateral. The company that you take out your loan with will come and get your vehicle if you do not make your payments. This in return allows the company that gives you the loan the chance to take a risk on you. They will not lose any money from your non-payments in the event that you did not pay.

Second Mortgage Loan for Debt Consolidation

So you own your home and you would like to take out a second mortgage on your home as a debt consolidation loan for bad credit. Many mortgage companies will give you the opportunity to take out a loan and have a second mortgage on your home. However, you have to make sure that your first mortgage payments have been on time and are current as well as up to date. So that could make a huge difference. It makes sense though, if you cannot pay your current mortgage payments, what makes you think that you can pay your second mortgage payments?

As you can see, there are several ways to get a debt consolidation loan for bad credit. There is the signature loan for the credit that is not so bad, the collateral loan for the credit that is not so good and the second mortgage loan that you can look into as well.

Getting A Second Mortgage Refinance: How Difficult Is It?

We have all heard about a mortgage refinance, but what is a second mortgage refinance? Is it possible to take out a second mortgage on your home and refinance it? Often homeowners take out a mortgage after making many plans. Their plans do not work out, and there is often a need for more funds. Alternatively, there could be a debt crisis. Here a second mortgage can be of great help. The first one is repaid, and a second mortgage replaces it.

The amount of equity you hold in the first mortgage decides your second mortgage. There could be any number of reasons for taking out a second mortgage tuitions, holiday expenses, starting a home based business. Some second mortgages are also a method of debt consolidation.

Types Of Second Mortgage

There are three types of second mortgages to choose: home equity loan, line of credit and a second mortgage. A line of credit is curtailed based on the value of the first and second loan. You can withdraw this money whenever you wish to. In addition, this credit can be repaid within a fixed time, but does not need regular monthly payment.

Interest Rate

The interest rates on second mortgages tend to be higher than a first mortgage. This is the reason why careful financial planning is required. Then again, if interest on the first mortgage was high, and the mortgage rates start coming down, switching to a second mortgage is a good idea. The idea is to replace the high interest first mortgage with a lower interest second mortgage.

Poor Credit

What happens if your credit record is poor? You may have defaulted on the payment of the first mortgage. In this case, you will find it difficult to get lenders for the second mortgage. You can approach a loan broker for help. A loan broker will be able to find a lender who can give you second mortgage refinance at the rate you need. It is a good idea to approach more than one lender, so that you can compare quotes. Go for the loan scheme that has the least interest rate.

A second mortgage refinance is very useful when you need funds or have debts to clear. It also helps you save tax. Some second mortgages can help you save more than the first mortgage. For all these reasons, second mortgage refinance has become popular with homeowners in the US.

Removal of MIP from FHA Loans

Mortgage Company’s won’t remove MIP or mortgage insurance premium this is something most of you had to hear when u applied for removal of MIP from your FHA loans. And if by any chance your loan closed on Jan 1, 2001. Then, there are only two ways to remove mortgage insurance that either you pay off the whole loan or refinance your loan. Generally FHA loans don’t have a PMI or private mortgage insurance but rather they have MIP and at the same time is less expensive monthly. The borrower can pay for MIP either at closing or monthly along with other mortgage payments. As per the FHA regulations, borrowers whose loan closed after Jan. 1, 2001, if the upfront premium is already paid, then the MIP will come off once the loan to value reaches 78% depending on the initial purchased price/value of the home and the principal payments that were made against the loan. And if the borrower didn’t pay any upfront MIP, then you cannot get a removal from the MIP of your loan. In this situation refinancing is an option that can be considered, but that is also applicable if your home’s value has gone up enough that you are allowed to take up conventional financing without any PMI.

If any of below mentioned conditions applies for you then u can get a MIP removal from your FHA loan:

1. Your MIP can be cancelled if you have if your mortgage terms more than 15 years and the loan to value ratio goes to 78%, with condition that you have paid annual mortgage insurance premium for a minimum of 5 years.
2. If your mortgage with period of 15 years or less and having a loan to value ratio of 90% or more your MIP can be cancelled if the loan to value ratio goes to 78%, the time for which mortgagor has given the annual mortgage premiums doesn’t matter here.
3. If your mortgage with period of 15 years or less and having a loan to value ratio of 89.99% or less you wont be charged any annual MIP.

Though, your mortgage will be cancelled as mention above, but the insurance contract will remain in effect for its complete term.

It’s the decision of FHA which will decide when the borrower has reached the given mark of loan to value ration on the basis of lower on the sale price or appraised value at the time of origination. Appraised value which is new will not be considered in any case.

Refinancing Your Home Mortgage Loan

If you are looking to improve your cash flow situation then refinancing your home mortgage loan may be a good choice for you. If you currently have a home equity loan along with a first mortgage you may be able to roll both of those into one loan with a lower interest rate and a lower monthly payment. This of course will depend on the interest rate of your current loan or loans but chances are you can save several hundreds of dollars per month on your payments by simply refinancing your current mortgage.

There are quite a few options to consider and then choose from when refinancing a home mortgage loan. The first thing you will need to do before choosing a refinancing loan is to shop around and get at a minimum of 4 quotes which you can compare. This will give a good starting point as to what the various financial institutions are offering as far as interest rates and payment plans.

You will also need to check and see what if any insurance they will require you to purchase. If you are comfortable paying your own insurance and property taxes see about getting a mortgage that doesn't require an escrow account. This will save you money on the monthly payment but you need to be sure to set aside enough money to pay for these as needed.

Once you have chosen the refinancing home mortgage loan that suits your needs be sure to read over all the contract details in detail. If you have a lawyer or close friend you trust have them read over the terms of the contract as well. Have a fresh set of eyes looking things over is a good way to not miss something important.

When it comes time to close on you home mortgage refinance be sure to look over the closing paper closely. Make sure all the terms are exactly as you and the lender had originally agreed upon. This is important because once you sign you are agreeing to everything that is stated in those papers whether they contain the original quote parameters or something totally different.

Your most important task when refinancing your home mortgage loan is protecting your largest asset, your home. If the terms of the loan are too good to be true they probably are. While most mortgage companies and brokers are honest in their dealing it is still up to you to protect your self from the few bad characters that do exist.

Get The Best Home Loan Mortgage Rate Refinancing

Unlike the fixed mortgage rate, adjustable mortgage rate are more complex and difficult to understand as the nature of such rate is that they can be adjusted periodically based on index.

So when do you choose such type of rate? Well, it is when the mortgage rates are falling. As such rates are tied to the market rate, a falling mortgage rate mean that the interest is also less, resulting in you paying less.

On the other hand rates can also go up so we are dealing with a difficult process because of the long period of the home loan mortgage. In most cases we are talking about 20 to 30 years so anything can happen in that time.

You need to be informed of the market and optimise the situation. Choose the adjustable mortgage rate based home loan mortgage when the interest rates are going down to get the best out of the bank.

Go with the market force - switch to a fixed mortgage rate through home refinancing or buying a second home that can cover the first home when home interest rates is going up.

Although the basis of the topic at hand is quite simple, it is very difficult to predict the evolution of interest rates. The best thing you can do is hire a specialist.

This imply that it is a good choice to engage the help from a good specialized home loan mortgage rate refinancing company that will guide you to getting the best mortgage rate possible.

Home buyers often choose one of the two types of mortgages - longer term and with lower interest while the second one will be on a shorter term and with a higher interest.

If the timing is right, the borrower can actually opt in for a new home loan mortgage that will cover both of the previous ones and incorporate them in just one mortgage plan that features a fixed mortgage rate. This is just one of the possible things you can do but it might not be suitable for your. As you can see, it is definitely a good idea to use a home loan mortgage rate refinancing company.

Nationwide Home Mortgage Loan Company

If you are one of the lucky people now looking for a second home in the mountains or at the beach, it makes sense to use a nationwide home mortgage and put both your mortgages with the same company.

The approval process is faster as the nationwide mortgage company already has all your information and also the credit score lookup is only done by one company. A lot of people make the mistake of using a local in state company for their mortgage needs, this is no problem for their primary residents but for a second home the problems becomes that the mortgage company can normally not help you when your second home is located in another state.

Here it is important to use a mortgage company that will do nationwide mortgages and home loans. As a general rule the more states your mortgage company has sister companies in the more help they will be to you when you need that new mortgage in a different state. To find the perfect nationwide mortgage company just contact a few of them a get the a paper copy of your most resent credit report they should be able to give you a fair quote based on that. This way you don't have 3 different mortgage companies pulling your credit because this will damage your credit score. When looking for a second mortgage in a different state you need to look at the mortgage company you are dealing with look at how many states they have offices and look to see that they can supply you with a mortgage in the state of your need house.

The second thing you want to look at is the mortgage rate the company can offer you. Let the mortgage companies compete against each other for a better rate for you and a lower payment each month. Also keep in mind that you now will have two mortgages with the same company maybe it makes sense to combine the two mortgages into one and that will give you lower payments. You can in most cases apply for the loan online or call the company 1-800 number an talk to a representative. This will give you the most answers and the representative can guide you though the process.

Just remember to get competing quotes and let the representative know that you are getting quotes from 3 different other mortgage companies this will sometimes make them sharpen the pencil a bit on your mortgage rate.

So for a second home mortgage in another state it is important to find a nationwide mortgage company that can take care of both your mortgages. Never get two mortgages by two different mortgage companies you will end up loosing money doing that. Also when getting a second mortgage remember to get quotes from at least 3 different nationwide mortgage companies to check the best rate and letting the companies compete against each other.

Getting in contact with a nationwide mortgage company is not as hard as you might think as their business is to attract you to them, you business is getting the best rate from them.

The FHA Loan and the Mortgage Broker

Have you been reading up on the FHA loan and you are sure that this is the sort of loan program that is right for you? If so, you may be wondering why you need to call a mortgage broker and why you cannot just call up the Federal Housing Administration and ask them for the loan. What you need to understand is that the FHA does not actually give out the loans, so you need to call a broker to help you apply for the loan and get the financial help that you need. The FHA is just one part of the equation so pick up the phone and call a broker to get the process started.

What the Mortgage Broker Does For You

When you call a mortgage broker and you tell them that you want a home loan you are actually getting a loan from them or the lender that they work with. The FHA loan is not actually given to you by the FHA. All that the FHA does is insures the loans that the authorized lenders give to borrowers. When the FHA insures he loan they are removing or at least minimizing the default risk that they take on when the lender works with a buyer that puts down less than 20 percent on the purchase price of a home.

The mortgage broker or lender actually does all of the work, so you truly do need them. The first thing that the broker or lender will do is take your loan application from you, which is a process in and of itself because so much information is required. Then, they will actually process the loan application, sending it to the lender if you are working with a broker, or sending it to the FHA to see if it meets their specifications. Then, the broker and/or lender will underwrite and close the loan.

As you can see, you really do need your mortgage broker to help you get the FHA loan that you want. Without them you will have a difficult time actually getting that loan so you can buy the home that you have been dreaming of. It can be difficult at first to differentiate between the mortgage broker, the lender, and the Federal Housing Administration, but you need them all to make your loan a reality.

The most difficult part of obtaining your FHA loan is finding the right mortgage broker to deal with. The important thing to remember is that there are thousands of brokers out there for you to work with and each one of them is going to offer you something just a bit different because each of them works with different lenders and each of them have their own fees and offers, and the differences can mean huge savings or huge expenses on the part of the borrower. You should be sure that you shop around a bit when you need a home loan to ensure that you are getting the best deal for you. While the FHA doesn't actually give you the FHA loan that you need, without them millions of home owners since the 1930's wouldn't have experienced the pride and joy that comes from owning their own home. This may just be the type of loan that you need to get you into the home of your dreams!

Use a second mortgage loan for debt consolidation

One of the many loans you can avail of when in financial need is the second mortgage loan. As the name suggests, this is a second loan on your home, which is treated just like the first mortgage loan.

The only difference between the first and second mortgage loan is that the interest rate for this loan is higher than the first. The reason this loan calls a higher interest rate is because the risk to the lender is greater as there are two loans involved here. However the loan charges associated with the second mortgage loan is lower than the first loan as these charges have already been registered against the house.

Monthly payments for a second mortgage loan is tax deductible

Though you have to pay two monthly payments for the two loans, the bank officials usually merge it into a single monthly payment. This is because it makes it easier for them to control payments this way. Just ensure that the combined loans don’t exceed the value of your home, so that you can claim tax deductible monthly installments.

There are various reasons for a person to take a second mortgage loan like for debt consolidation, home improvements, and medical bills and for students’ studies. The money lender will not have any problems or objections to sanction this second mortgage loan, as long as you have been regularly paying off your first mortgage loan.

Sometimes, a bank or building society will not give new home buyers a hundred percent loan. So if you don’t have money to give as down payment, you can use a second mortgage loan for money to pay the down payment. With this arrangement, people who don’t have deposits will still be able to buy their dream homes.

Choose the best second mortgage loan

When using a second mortgage loan for debt consolidation, you get to exchange high interest debts and credit card debts for this lower interest rate loan. With the second mortgage loan paying off all your dues, you end up only paying a single monthly payment to the bank instead of having to pay numerous installments, to different lenders.

This way you not only save time and money paying numerous lenders, you end up with less financial tension. Second mortgage loans are basically adjustable rate or fixed rate loans. The interest rates and loan terms usually differ between different lenders; this is why it is better for you to look around and make comparisons before actually choosing a loan from companies.

Why Go For A Home Mortgage Loan

The choice of owning a home is almost a dream come true to most people. But to be short of finance is a hindrance to this dream. Why not get a home mortgage loan to get the house of your choice.

How much do you need?

Your search for a home mortgage loan should start by looking for a house. It is reasonable to start from this angle for a variety of reasons. The first reason is that if you are able to determine the cost of the home, you will be able to determine what type of home mortgage loan that will meet your needs. Secondly, with a loan at hand, you will be able to make instant payment. This dispels the danger of the money being used for some other purpose. Statistics have proven that most home mortgage loan applicants who have not yet found a home are usually tempted to use part of the money for something else. They end up pay for something lower than what they had anticipated.

What are the rates?

It is habitual that rates on a home mortgage loan will always fluctuate. Therefore, a case study of the market should be carried out. Get to mortgage experts and jointly carry out a conjecture of what the rates may be the next hour. There may be certain indications which will be used to tell how bendable rates will be. Of course, it may be difficult to come up with these rather than through the services of home mortgage loan experts.

Whatever the case, endeavor that your application for home mortgage loan is approved when rates fall and vise versa.

What is the tenure of the home mortgage loan?

A further imperative concern should be directed to the period of the loan. The period will impact on the amount of payment you will be opened to. A loan taken on a mortgage is usually given for tenure of between fifteen to thirty years. Keep in mind that a loan over a shorter period will mean paying a higher installment alongside a lower interest on the mortgage. A longer loan period will equally mean that you will pay less monthly, but higher rates. You will eventually end up paying more. The ultimate is to look for a plan that will fit into your personal financial program.

What is the type of mortgage?

There exist fixed as well as variable interest rate mortgages. These types of mortgages also have their impacts on the payment. It may be worthy to go in for a fixed home mortgage loan. This type of mortgage has an unbendable interest rate. The advantage of this is that you are aware of what you have to pay. You are not affected in rates climb. Although you will be paying more when rates go lower, there will be no distress because you had pre-prepared to make a higher payment.

If you are still in doubts, do not hesitate to visit the link below for more information as we as the expert in this area could give you good advice.

Mortgage Loan For You

Mortgage loan is the money that the lender gives to the borrower; sometimes these loans need a guarantee. A mortgage is what one gets as a certification once the asset is used as a pledge for security. There were times when availing mortgage loan was very difficult but with the growing competition it has become very simple to get mortgage loan. The loan amount can be used for various purposes such as purchasing a property, wedding, vacation, medical purposes etc.

As a security is attached with the loan therefore the loan amount is very high. Every individual has his own requirement as a result one should choose the right kind of loan that would solve his purpose. In mortgage loan the time of repayment is very long it may extend unto 25 years or more. Since the repayment tenure is so long therefore the monthly installment that the borrower has to pay is not much and does not disturb his monthly finances.

Mortgage loan can be generally divided into two types:

1. Fixed rate mortgage loan
2. Adjustable rate mortgage loan

In case of fixed rate mortgage loan the interest rate remains the same throughout the tenure of the loan. In this kind of loan the borrower is more relaxed because he knows the amount that he has to pay every month and accordingly plans his budget. Therefore the borrower will not be affected by the change in the interest rates as his mortgage amount will not change.

In adjustable rate mortgage loan or variable rate mortgage loan the interest rate is adjusted from time to time based on an index. By taking this kind of mortgage loan the borrower can lower his payments as he is ready to take the risk of change in the interest rates.

Apart from these two there are various kinds of mortgage loan such as interest only mortgage loan, graduated payment mortgage loan, negative amortization mortgage loan, conventional loan, extendible balloons and many more. It is for the borrower to decide on the kind of loan that would fulfill his requisite.

Mortgage loan is a kind of loan that would continue for years, therefore the borrower would want the best and the most reasonable rate as he has to pay the interest for many years. There are certain things that affect the mortgage loan interest rate such as loan amount, loan tenure, down payment, income of the borrower, whether or not the loan is adjustable etc.

There are certain points that the borrower must keep in mind before availing mortgage loan.

Firstly, the borrower should decide on the loan amount after assessing his income and the pay back capacity so that the loan does not hamper his budget.

Secondly, one should do complete market study before availing mortgage loan, and then choose the best deal as per his need.

Thirdly, mortgage loans are of various kinds, so the borrower should decide on the type of mortgage loan according to his constraint.

Fourthly, the borrower must have a clear idea about the rate of interest, the monthly installment that he has to pay, the terms and conditions and the tenure of the loan. One should calculate the interest rate and the monthly installments beforehand so that he does not end up paying more to the lender.

Fifthly, the borrower must check the means and standing of the mortgage loan lender.

Mortgage Refinance Calculator: Estimating The Savings

You can use a mortgage refinance calculator to find out your savings if you switch to a new mortgage. The new calculator will help you determine whether the new plan that you are considering is suitable or not.

Advantages

You may wonder: what is the use of a mortgage calculator? The mortgage calculator will help you project the amount you will be paying over the loan term. This will help you decide if you should take a new mortgage or not. If your current mortgage has high interest rates, and you wish to take a second mortgage with lower interest, a calculator will help you find how much you can save.

Prerequisites

The calculator will ask you for information regarding the current loan amount, loan term and interest rates. You also need to provide information regarding how long you have had this mortgage, and the remaining loan term. You also need to provide information about your new loan, such as loan term, interest rate etc. What you need to do is provide all the information to the calculator, and it will do the hard work for you.

Finding A Calculator

Thankfully, the mortgage refinance calculator is just a mouse click away. You can make a search for it online. Once you find a website that hosts a calculator, you can fill in the information and wait for it to come up with the results.

Pay attention to the break even date. This is the time when cost of the new mortgage is recovered through the savings on it. You do not want to go in for a scheme where you cannot recover the cost through savings - it would be a loss-making proposition for you.

If your break even date falls after the loan term expires, it might not be a good idea to take the loan. If the opposite is true, then the loan can help you. If you think the loan figures do not add up to your liking, you can do the math again by putting in different figures. This will help you arrive at interest rates and loan terms that will help you.

A mortgage refinance calculator will help you find the best rates. It will give you an estimate of how long it will take for you to clear your debts. It will also help you plan your finances according to the loan term. This invaluable tool is easy to access, easy to use, and is free. What else can you ask for.

How To Refinance My Home Mortgage

If you’re looking at refinancing your home loan then it can be very confusing to think about the process of refinance.

Mortgage refinance basically means taking out another loan which will cover all of your other debts, to pay them off. You can get a secured loan, this means that should you be unable to pay, the loan is secured against your home.

Mortgage refinancing simply means that you pay off your existing mortgage with the money you get from refinancing your home. People often do this to lower the interest rate they have to pay, and therefore reducing the amount of money that their loan actually costs them.

It is also possible to get some money out of your property by refinancing. There are a few important steps to be aware of when refinancing

1. First you get the loan application and then complete it. This can be very difficult to do, I hate all forms!

2. The loan consultant then offers many different mortgages to you

3. You must carefully decide which mortgage is right for you

4. Complete the documentation that you need to apply to that specific loan

5. When you receive the disclosures for the loan, including all legal information, terms and other forms you must complete these and send them back to your loan consultant.

6. The loan consultant will then set up an appraisal company to contact you. This appraisal company is responsible for valuing your home. This is an essential step as you need to find out how much your home is worth now.

7. Your loan consultant pays off your old loan with the new one you’ve just taken out, and then process the loan file.

8. The underwriters of the loan will get all the information they need from the loan consultant. They will either approve the loan, or request extra information they need. If they do require any additional information then your loan consultant will give them your contact details.

9. The completed loan document is then sent off to the company that is issuing the title, or the lawyer who is responsible for closing the loan.

10. You have a 3 day cooling off period during this time. This is when you can cancel the loan without any obligations.

11. The refinance process is complete, and you have refinanced your mortgage.

If you are interested in refinancing your mortgage, then you should defiantly consider using a trustworthy mortgage company, or somebody that you have already done business with. You should be able to find a trustworthy mortgage broker, however if you do struggle, you can use one of the many online mortgage comparison services.

The online comparison services are very easy, they only take a minute to do and you get a list of suitable mortgages.

Home Loan Mortgage Rate Refinancing

Let's face it, home loan mortgage rate refinancing is a complicated subject and unless you are the bankers, chances are that you will only know the general part of this topic. Certainly not enough for you to optimise your financial consideration.

You can either try to navigate around this mortgage rate topic on your own, or you can seek professional help from mortgage refinancing companies. There are many of such companies in the market that will be happy to help you with a small fees.

The entire home purchasing process is difficult as mortgage rates and refinancing options through home loans brings in the need to know a lot of facts and analyze the properly.

Basically, there are there are two types of mortgage rates in home loan mortgage rate refinancing. They are fixed mortgage rates and adjustable mortgage rates.

You must consider the types of mortgage loan options if you are dealing with mortgages or home refinancing.

The first type of mortgage rate is fixed mortgage rates. This type of mortgage rates is simple because the monthly payments is make with fixed interest with the principal remaining the same on the entire period of the loan.

This basically means that you will need to pay the same amount of money each month for the period you take out the loan linked to your mortgage. Linking to such a type of mortgage rate will make it possible for the individual to plan their budget with more ease as he/she will not have to deal with falls or rises in mortgage rates. T

The main benefit of home loan mortgage that are pegged to fixed mortgage rates is that the monthly payment will always remain the same, not matter if the mortgage rate goes up.

Mortgage Refinance Loan - Choosing the Right One

Are you interested in mortgage refinance? If so you will find that there are a lot of options for you to choose from. You may not be aware of it, but there are many different types of loans and when you start to think about refinancing you may very well be overwhelmed by all of the options. With so many options, how do you choose just one? And, how you do determine which one is the right one for you?

Choosing the Right Mortgage Refinance Loan

Choosing the right mortgage refinance loan can be tricky but it doesn't have to be all that difficult. You simply need to break it all down into understandable and manageable chunks. The first thing you need to do is look at your current loan and try to figure out why it is not working for you or what you would like to change. Do you just want to lower your monthly payment? Do you want to trade in your variable rate mortgage for a fixed-rate mortgage? Do you want to go for a cash out refinance loan? When you know what you have and how you want to change it, it will be much easier to look at all of the loan programs out there and respond accordingly.

When you have looked at your current home loan and you have decided what the purpose of mortgage refinance is for you, it is time to find a mortgage company that can help you find desirable refinancing options and get your applications completed. A mortgage compay can help you understand which loans may be a better deal for you, and why.

When you are offered mortgage refinance loans you need to consider several things. First, you need to consider the length of the loan, the interest rate, and then whether or not the interest rate will stay the same or whether it will adjust later on. You also need to look at what fees you will incur and whether or not you can roll them into the principal that is owed to the lender. As you can see, there are many things that you need to consider when you are trying to choose the right loan. Just take it slowly and don't accept something unless you are 100% comfortable with it.

Choosing the right mortgage refinance loan is simple when you break it down a bit by knowing what you have, where you want to be, and what sort of loan that you need to get to the place that you want to be. Refinancing can help you save money as well as make your mortgage more affordable in the long term. Learn all that you can about all of the different loans out there and how each of them can benefit you before you decide on just one. It may take you longer to get your loan refinanced when you do this, but chances are if you go about making your choice in this way, you will be much more satisfied with the end product than if you hadn't done your research.

Using an 80 20 Mortgage to Avoid Mortgage Insurance

An 80 20 mortgage is also called a zero down loan or no money down loan. It is actually two loans, a regular home mortgage which constitutes 80% of the price of the home and a second mortgage or home equity loan that consists of 20% of the cost of the house. The idea behind this type of loan is avoiding mortgage insurance (PMI) by using the home equity loan as the down payment.

Just about all mortgages require some form of mortgage insurance if you are unable to make a down payment of at least 20 percent. By obtaining a second mortgage or home equity loan for 20 percent of the homes cost you can circumnavigate this requirement by using that second loan as the down payment.

There are variations of this type of mortgage such as an 80-15-5 loan. This means that the borrower got a main mortgage of 80 percent of a home's purchase price, a piggyback loan for 15 percent, and made a 5-percent down payment. This can be a good option if you have some money for a down payment but not enough to cover the entire 20%.

The second mortgage can either be a fixed second mortgage or it can be a line of credit. If it is a fixed second mortgage then the interest rate is normally fixed for the entire length of the mortgage. Most fixed second mortgages are a 30 due in 15 which means that the second mortgage is amortized over 30 years, but is due in 15 years. The benefit of going with the line of credit as the second mortgage is that the interest rate is normally much lower than the fixed second mortgages rate. They can also be an interest only loan which could save you hundreds of dollars in mortgage payments every month.

The 80 percent first mortgage can be a fixed-rate (15-year or 30-year), adjustable-rate (usually 5/1, 7/1 or 10/1fixed period ARM) or interest-only loan. Typically, the interest rate on the second mortgage loan is higher than the interest rate of the first loan. But because the borrower doesn't have to pay mortgage insurance, the overall cost is less than a traditional mortgage even with the higher mortgage interest rate on the second loan.

Plenty of mortgage programs allow borrowers to buy houses with little or no money down, but they usually require private mortgage insurance, or PMI. Getting an 80 20 mortgage can be a good way to avoid the extra cost that PMI will add to your monthly payments.

Mortgage Loan Lender - Friend Or Foe

Finding a good deal on your mortgage loan lender is something that you need to do. You will want to do this so that you can save money and make the most of your home loan. There is nothing better than getting a home loan that you can feel good about. You want to own a home however you want to be able to afford the payment on it. You do not want to go in debt when you want to purchase a home. It is essential that you find the mortgage loan lender that fits your needs the most.

Getting the home that you want is the best part about buying a home. Finding the home is easy, it is the mortgage loan lender that is not so easy to find. You want to make sure that you are doing all that you can to get to where you want to be. You have to be willing to do the work so that you are getting what you need from your mortgage loan lender. You have to make sure that you are looking in the right places.

There are so many lenders that you can check out online. This is one easy way to see what is out there for you to choose from. You will see the interest rates that are out there and what you will to get for your home loan to be a success. You have to be sure that you are doing all that you can so that you can get a great loan that will make you happy. You have to be willing to do your homework when you are looking for the mortgage loan lender that is best for you.

There are many lenders that you can turn to in your area as well. Many times, you can go to the local banks and find great deals that are going to make it easier for you to get the loan that you want. You should not have to worry about being able to afford your mortgage. The mortgage loan lender that you use is going to be someone that you can trust so that you are able to afford a home and feel good too. You should shop around until you get what you want. It is not hard and in fact, when you are willing to take a little time and check out the mortgage loans that are best for you, you will see that you are going to get what is best for you.

Before you know it you will be in the home of your dreams and you will have the payment that you can afford. The mortgage loan lender that you use has to be someone that you trust and feel confident in as well.

The advantages of hiring a home mortgage refinance loan broker

If you are in bad credit, and are looking for a home mortgage refinance loan, it is better to do this with the help of a mortgage broker. This is because though it is easier for a person with a good credit to get a loan; those with bad credit will have to look around more for the right home mortgage refinance loan.

With the help of a home mortgage refinance loan broker, there is no need of you shopping around for a loan. You just have to approach the broker, who will to fieldwork for your mortgage loan. These are the people who work with lenders to finance you with loans like the home mortgage refinance loan.

However you have to get one thing straight when approaching a home mortgage refinance loan broker that you don’t get your loan from the broker. This broker is only the person responsible for facilitating the loan; the actual home mortgage refinance loan will be serviced by a lender.

The home mortgage refinance loan broker does all the paperwork for you

The home mortgage refinance loan broker will do all the work related with paperwork for get your loan approved. In addition to this, the broker will remind and inform you of all the documents you have to gather for the loan, and the forms that have to be filled out. In other words, it is the duty of the broker to take you through the processing of the home mortgage refinance loan so that there are no complications in its processing.

Besides all this, it is the work of the home mortgage refinance loan broker to decide on the best terms to work for you in terms of the loan. It is their duty to find the best loan for you, with the best interest rates and lowest closing costs.

Use the internet to find the right home mortgage refinance loan broker

It is not difficult to find a home mortgage refinance loan broker; all you have to do is to use the phone book or the internet. Conduct searches using the words ‘brokers’ or ‘real estate’ and you will be produced with contact information of the brokers in your vicinity or the vicinity of the mortgage lender.

Just ensure that you are comfortable with the broker, and that he or she has the time or patience to understand your financial situation and requirements. This is because if you have a home mortgage refinance loan broker like www.vuemortgageloan.com who understands you, the chances of you getting the right loan is better.

Home Loan Mortgage Calculator

What is this home loan calculator? You may have heard of it, but are not sure what it really is. You just are not sure, but you are interested in finding out.

Although most people have never used a home loan mortgage calculator, they are an outstanding tool that can be used for people buying a home or refinancing an existing home. With this, you can determine what you can afford based on income. The calculator does all the work for you so there is no guessing or wrong information.

With a home loan mortgage calculator, you will find the process extremely easy and fast. With this tool, you can confirm the amount of mortgage payment that would fit in your budget, without having to guess.

What Exactly is a Home Loan Mortgage Calculator, Anyway?

This is really simple to understand and can be very helpful to your mortgage needs. With a home loan mortgage calculator, you can add in all of your information and get estimates for your mortgage loan.

What information do you need?

The basics are a good place to start. A home loan mortgage calculator is very easy to use on the Internet and requires only a little information to work.

You'll need to know the amount you want to get a mortgage for - any amount, with any range. It can handle calculating a $40,000 loan, or a $400,000 loan.

Next, you will need to let the calculator know the number of years you want the mortgage loan to be for, whether 10, 20, or 30 years. In fact, there are also options for 40-year loans.

You should know your interest rate as well. This will give you a balancer and if you are not sure, just make a guess so that you have a rough idea of what your looking at.

Then, all you have to do is press a button, and it will figure out - from what you gave it - how much a monthly mortgage payment would cost you. Really, it's that simple. You don't need to deal with any of the calculations for it, because it handles it all. It almost feels like cheating, doesn't it?

Where to Find a Home Loan Mortgage Calculator

There are many home loan mortgage calculators online and some are good and others are not. Some will ask for to much information and others will not work right. Keep looking and you will find a good one that works for you.

A Second Mortgage Vs. A Home Equity Loan

If you own your home and need a loan for whatever reason you have probably considered a second mortgage or a home equity loan to help you pay your bills, buy a new car, or pay for some other investment. However, you probably don't know whether a second mortgage is better or worse than a home equity loan for your particular situation. However, don't despair because there are some tips that will help you decide whether a second mortgage or home equity loan is for you.

Second Mortgage Tip #1 One Time Expenses
A second mortgage is the preferred option if you have a one time big expense you need to cover. Examples of this include remodeling your kitchen, paying for a wedding, or buying a new car. In these instances a second mortgage will probably work best for you; however this will depend on the equity in your home and your credit score.

Second Mortgage Tip #2 Recurring Expenses
If you are going to have recurring expenses then you might not want a second mortgage because a home equity loan will work out better for you. The second mortgage is best for large amounts of money at once while recurring expenses like tuition are better paid for with a home equity line of credit.

Second Mortgage Tip #3 Repayment
You will also need to consider your ability to repay and which option will suit you best. A second mortgage can be financed similarly to your first mortgage, while the home equity loan can be paid back more like a credit card. Consider your financial position and ability to make monthly payments before applying for either a second mortgage or a home equity loan.

If you still don't know whether a second mortgage or home equity line of credit is for you, then talk with your lender and see what is recommended for your equity, credit, and ability to repay the loan.

Tuesday, November 4, 2008

Audi A4 Cabriolet


Audi A4 B6 (2000-2005)

An all-new A4 debuted in late 2000, now riding on the B6 platform. The 1.6 L base model remained unchanged, but most other gasoline engines received either displacement increases or power upgrades. The 1.8 20 valve Turbo was now available in two additional versions, with 150 or 180 PS (110 or 132 kW), this one with a standard six-speed gearbox, while the naturally aspirated 1.8 L straight-4 and 2.8 L V6 were replaced by 2.0 L and 3.0 L units, still with five valves per cylinder, the most powerful of which was capable of 220 PS (162 kW) and 300 Nm (221 ft.lbf) of torque. The 1.9 TDI engine was upgraded to 130 PS and was now available with quattro, while the 2.5 V6 TDI high-end model was introduced with 180 PS (132 kW) and standard quattro. The Avant arrived in mid 2001.

For 2002, Audi upgraded power in the 1.8 Turbo engines to 163 and 190 PS (120 and 140 kW respectively), and in the 2.5 TDI intermediate version to 163 PS. A year later, Audi reintroduced the S4, now powered by a 344 PS (253 kW) 4.2 L V8, as well as an A4 Cabrio convertible variant, finally replacing the 80-based Audi Cabriolet that had been discontinued in 1998.

Audi also introduced a continuously variable transmission developed by LuK, named Multitronic, which replaced the Tiptronic on front wheel drive models. The transmission won considerable praise from the automotive press and is generally regarded as being the best of its type in the world, due to its light weight and promptness in response, but its use was limited to models with a maximum of 310 Nm (229 ft.lbf).

Borrowing from the Audi A6, the boot was redesigned to remove the extension of the top edge with a smoother fold line, and the taillight assembly now forms part of the top line.

A new cabriolet version of the A4 was introduced in 2002 to replace the ageing Audi 80-based model. It incorporated some minor styling changes which eventually found their way to the sedan version (such as body-colored lower bumper and sill panels).

Audi A4 Avant


Audi A4 B6 (2000-2005)

An all-new A4 debuted in late 2000, now riding on the B6 platform. The 1.6 L base model remained unchanged, but most other gasoline engines received either displacement increases or power upgrades. The 1.8 20 valve Turbo was now available in two additional versions, with 150 or 180 PS (110 or 132 kW), this one with a standard six-speed gearbox, while the naturally aspirated 1.8 L straight-4 and 2.8 L V6 were replaced by 2.0 L and 3.0 L units, still with five valves per cylinder, the most powerful of which was capable of 220 PS (162 kW) and 300 Nm (221 ft.lbf) of torque. The 1.9 TDI engine was upgraded to 130 PS and was now available with quattro, while the 2.5 V6 TDI high-end model was introduced with 180 PS (132 kW) and standard quattro. The Avant arrived in mid 2001.

For 2002, Audi upgraded power in the 1.8 Turbo engines to 163 and 190 PS (120 and 140 kW respectively), and in the 2.5 TDI intermediate version to 163 PS. A year later, Audi reintroduced the S4, now powered by a 344 PS (253 kW) 4.2 L V8, as well as an A4 Cabrio convertible variant, finally replacing the 80-based Audi Cabriolet that had been discontinued in 1998.

Audi also introduced a continuously variable transmission developed by LuK, named Multitronic, which replaced the Tiptronic on front wheel drive models. The transmission won considerable praise from the automotive press and is generally regarded as being the best of its type in the world, due to its light weight and promptness in response, but its use was limited to models with a maximum of 310 Nm (229 ft.lbf).

Borrowing from the Audi A6, the boot was redesigned to remove the extension of the top edge with a smoother fold line, and the taillight assembly now forms part of the top line.

A new cabriolet version of the A4 was introduced in 2002 to replace the ageing Audi 80-based model. It incorporated some minor styling changes which eventually found their way to the sedan version (such as body-colored lower bumper and sill panels).

Audi A4


Audi A4 B6 (2000-2005)

An all-new A4 debuted in late 2000, now riding on the B6 platform. The 1.6 L base model remained unchanged, but most other gasoline engines received either displacement increases or power upgrades. The 1.8 20 valve Turbo was now available in two additional versions, with 150 or 180 PS (110 or 132 kW), this one with a standard six-speed gearbox, while the naturally aspirated 1.8 L straight-4 and 2.8 L V6 were replaced by 2.0 L and 3.0 L units, still with five valves per cylinder, the most powerful of which was capable of 220 PS (162 kW) and 300 Nm (221 ft.lbf) of torque. The 1.9 TDI engine was upgraded to 130 PS and was now available with quattro, while the 2.5 V6 TDI high-end model was introduced with 180 PS (132 kW) and standard quattro. The Avant arrived in mid 2001.

For 2002, Audi upgraded power in the 1.8 Turbo engines to 163 and 190 PS (120 and 140 kW respectively), and in the 2.5 TDI intermediate version to 163 PS. A year later, Audi reintroduced the S4, now powered by a 344 PS (253 kW) 4.2 L V8, as well as an A4 Cabrio convertible variant, finally replacing the 80-based Audi Cabriolet that had been discontinued in 1998.

Audi also introduced a continuously variable transmission developed by LuK, named Multitronic, which replaced the Tiptronic on front wheel drive models. The transmission won considerable praise from the automotive press and is generally regarded as being the best of its type in the world, due to its light weight and promptness in response, but its use was limited to models with a maximum of 310 Nm (229 ft.lbf).

Borrowing from the Audi A6, the boot was redesigned to remove the extension of the top edge with a smoother fold line, and the taillight assembly now forms part of the top line.

A new cabriolet version of the A4 was introduced in 2002 to replace the ageing Audi 80-based model. It incorporated some minor styling changes which eventually found their way to the sedan version (such as body-colored lower bumper and sill panels).

Audi A3 3-door


Audi A3 (1996-2003)

The original A3 (or Typ 8L) was introduced in the European market in 1996, marking Audi's return to the lower market segments since the demise of the Audi 50. Using the VW Golf's platform, it bears a natural close resemblance to its contemporary, the Golf Mk. IV. The car was initially available only with a three-door hatchback body, in order to present a more sporty image than the Golf, in both front- and four-wheel drive. All engines had a four-cylinder configuration and were transversally mounted. After the A4, the Audi A3 was the second model in the Audi lineup to use five valves per cylinder.

In 1999, Audi expanded the range with the introduction of an entry level model (1.6 L), a sporty version (1.8 Turbo with 180 PS (132 kW)) and a more powerful Diesel (1.9 TDI with pumpe-düse technology and variable geometry turbocharger). The four-wheel-drive A3 1.8T Quattro used either the 150 hp (110 kW) and 180 PS (132 kW) and the same Haldex-based all-wheel drive system as the Audi S3 and the original Audi TT. 1999 was also the year Audi was forced to bow to market demands and introduced a hastily conceived five-door body, that the company had never intended to produce.

In late 2001, the A3 range was revised with new light clusters, an improved interior, and the introduction of a six-speed manual gearbox, on the 180 PS 1.8 Turbo and the brand new 130 PS (96 kW) 1.9 TDI. Audi's ESP (Electronic Stability Program) traction-control and brakeforce distribution computer became standard equipment.

Although the Audi A3 was replaced in Europe during 2003, the first generation model continues to be sold in developing countries, most notably Brazil.

Engines
1.6 L (1595 cc/97 in³), 75 kW (102 PS)
1.8 L (1781 cc/108 in³), 92 kW (125 PS)
1.8 L (1781 cc/108 in³) light-pressure turbo, 110 kW (150 PS)
1.8 L (1781 cc/108 in³) turbo, 132 kW (180 PS)
1.8 L (1781 cc/108 in³) turbo, 154-165 kW (210-225 PS) (S3)
1.9 L (1896 cc/115 in³) turbo Diesel, 66 kW (90 PS)
1.9 L (1896 cc/115 in³) turbo Diesel, 81 kW (110 PS)
1.9 L (1896 cc/115 in³) turbo Diesel, 96 kW (130 PS)

Audi S6 Avant


Audi S6

Audi was fairly constantly re-structuring their model lineup in early and mid-1990s, and in 1994 began selling the fifth generation 100 model as the A6. Wanting to keep a sports-sedan in their lineup, the company made small revisions to what had been badged as the S4, and began reselling it as the S6 - the S4 would eventually become a completely separate member of the lineup, based on Audi's A4.

For 1995, the S6 was powered by a 2.2 L turbocharged five-cylinder engine producing 230 PS (169 kW/227 hp) at 5900 rpm and 326 Nm (258 ft.lbf) at around 1950 rpm. The powerful engine gave the S6 surprisingly good performance, it had a top speed of 243 km/h (151 mph) and went from 0 to 100 km/h (62 mph) in 6.1 seconds; 160 km/h (99 mph) was reached in 17.5 seconds. The vehicle came standard with a six speed manual gearbox (5 speed only in the USA), and Audi's Quattro all-wheel-drive system. It was available as both a sedan and an "Avant" (station wagon) to European customers, but only as a sedan in North America (except as a 1995.5 model,) Asia and Australia.

Audi had made a high-performance, 4.2 L V8 available as an option in the first generation European S4s, and made the decision to continue to do so with the S6, making a 290 PS (213 kW/286 hp) version of the 4.2 available as an optional upgrade over the 5-cylinder. Unlike the turbocharged version, the V8-powered S6 was shipped with automatic transmission by default, but kept the Quattro four wheel drive. A 6-speed manual gearbox was available as an option.

An even more powerful and very limited-production S6 Plus, powered by another version of the V8 (later to be seen in the Audi S8), was briefly available to European customers. Developed by Quattro GmbH, it was available for sale only during the 1997 model year. Only 952 cars were produced in total - 855 Avant (Estate) and 97 Limousines. Audi's performance division reworked key parts of the engine and increased the power output to 326 PS (240 kW/322 hp). During this process they also made revisions to the suspension, brakes and transmission. With so much power on tap, the S6 Plus could reach 100 km/h (62 mph) from a standstill in less than six seconds, making it compareable in terms of accleration to vehicles like the Porsche 944 Turbo.

Sunday, October 26, 2008

Audi S6


Audi S6

Audi was fairly constantly re-structuring their model lineup in early and mid-1990s, and in 1994 began selling the fifth generation 100 model as the A6. Wanting to keep a sports-sedan in their lineup, the company made small revisions to what had been badged as the S4, and began reselling it as the S6 - the S4 would eventually become a completely separate member of the lineup, based on Audi's A4.

For 1995, the S6 was powered by a 2.2 L turbocharged five-cylinder engine producing 230 PS (169 kW/227 hp) at 5900 rpm and 326 Nm (258 ft.lbf) at around 1950 rpm. The powerful engine gave the S6 surprisingly good performance, it had a top speed of 243 km/h (151 mph) and went from 0 to 100 km/h (62 mph) in 6.1 seconds; 160 km/h (99 mph) was reached in 17.5 seconds. The vehicle came standard with a six speed manual gearbox (5 speed only in the USA), and Audi's Quattro all-wheel-drive system. It was available as both a sedan and an "Avant" (station wagon) to European customers, but only as a sedan in North America (except as a 1995.5 model,) Asia and Australia.

Audi had made a high-performance, 4.2 L V8 available as an option in the first generation European S4s, and made the decision to continue to do so with the S6, making a 290 PS (213 kW/286 hp) version of the 4.2 available as an optional upgrade over the 5-cylinder. Unlike the turbocharged version, the V8-powered S6 was shipped with automatic transmission by default, but kept the Quattro four wheel drive. A 6-speed manual gearbox was available as an option.

An even more powerful and very limited-production S6 Plus, powered by another version of the V8 (later to be seen in the Audi S8), was briefly available to European customers. Developed by Quattro GmbH, it was available for sale only during the 1997 model year. Only 952 cars were produced in total - 855 Avant (Estate) and 97 Limousines. Audi's performance division reworked key parts of the engine and increased the power output to 326 PS (240 kW/322 hp). During this process they also made revisions to the suspension, brakes and transmission. With so much power on tap, the S6 Plus could reach 100 km/h (62 mph) from a standstill in less than six seconds, making it compareable in terms of accleration to vehicles like the Porsche 944 Turbo.

Audi RS2 Avant


The Audi RS2 Avant was a limited edition, high performance Audi estate car / station wagon, sold from 1994 to 1996. Collaboratively designed by Audi and Porsche, and built on Audi's 80 Avant, it was the company's first "RS" vehicle, and the first of their high performance Avants; it used the most powerful and most thoroughly developed version of the company's turbocharged inline-5 cylinder engine, and was unmatched in performance among other estate cars at the time of its release.

Although it was never exported outside of Europe, except for a few to South Africa and New Zealand, the RS2 has amassed an impressive cult following worldwide, and it is often regarded as being the vehicle that finally firmly established Audi as a producer of practical high performance vehicles; its estate body, and standard quattro permanent four-wheel-drive system made it usable as a comfortable daily driver even in poor weather conditions.

Audi Avus quattro Concept




The Audi Avus quattro was a "supercar-styled" concept car from the German car manufacturer, Audi. It was first introduced at the 1991 Tokyo Motor Show. The Avus quattro had an aluminum exterior, which made it a lightweight, sleek and safer automobile.

The Avus quattro's engine was supposed to be a 6.0 L 60-valve 12-cylinder engine producing 509 hp (380 kW), capable of accelerating the car from 0 to 60 mph (97 km/h) in about 3 seconds and a top speed of 211 mph (340 km/h). The exact car shown at the Tokyo Motor Show, however, had a dummy made of carefully painted wood and plastic for an engine because at the time, such a powertrain was still in development; Audi-made W12 engines were not available to buyers until Audi presented its flagship A8 a few years later.

The Avus quattro is now on display at Audi's museum in Ingolstadt, Germany.

Audi 80 Avant


Audi 80 B4 (1991–1995)

The B3 got a major facelift for the 1992 model year in 1991. It was from then on known internally as the B4 (or 8C). Changes from the B3 included a longer wheelbase, a fully redesigned gas tank and rear axle to enable the use of stowable back seats, 15'' wheels and more prominent wheel arches, redesigned and painted rear and front bumpers as well as higher-quality materials for the interior. The front grille was merged with the hood and given a bolder look.

In Europe, the 90 name was discontinued and all sedans were badged as 80, regardless of which engine they had. Audi of America went the opposite direction, and began selling the sedan as the 90. B4s for the American market typically offered more luxury even in the standard version, such as automatic transmission, cruise control, air conditioning and leather seats, all of which were merely optional at additional cost on European models.

European market cars were now available with a selection of 4-cylinder engines as well as the I5 and two different V6, although the V6s were the only engines available in vehicles sold in North America. As another first, Audi introduced a new high-torque, turbocharged diesel engine, the 90-hp 1.9 TDI. The standard 1.8 liter gas engine of the B3 was discontinued; a two-liter, 90-hp, 4-cylinder gas engine, a variation of the previously known 113-hp 2.0E engine, was now available for the base model.

All versions were available with quattro all-wheel-drive; at the time, however, it could only be combined with a 5-speed manual transmission. Additionally, Audi built around 4000 units of the Quattro Competition, a street homologation of the B4-based DTM race car sedan with all-wheel drive and a 140-hp, two-liter gas engine. Together with the S2 and the RS2, the Quattro Competition has become a highly sought-after collector's item.

Together with the sedan, Audi began making a B4-based station wagon and a convertible which was largely based on the B3 coupe, meaning that Audi now had sedan, coupe, cabriolet and wagon variants of the 80 available to European customers, though the last coupe sold to North American customers was in 1990 and 1991.

The B4 sedan was discontinued at the end of the 1994 model year; station wagon and Coupe followed suit a year later, the Cabriolet model however was carried on until 2000. Until then, the latter had undergone a few minor touch-ups, such as gently redesigned bumpers and instrument clusters and more options available. Both the Coupe and the Cabriolet were effectively replaced by the TT coupe and roadster, which as of November 2005 have been slated for replacement themselves.

The B4 platform sedans and wagons were replaced by the Audi A4 for 1995.

Audi 100 Avant


Audi 100 C4, 1991–1997

A heavily revised C3, the C4, was introduced in 1991. The C3-platform V8 continued to be sold as a separate line. The major change was the introduction of a 2.8l V6 engine. It was later joined by a 2.6l variant. They were essentially the same engines as the two V6 introduced for the 1992 Audi 80. The option of quattro all wheel drive was an option across the range, and the Audi 100 quattro was available with a ZF 4-speed automatic gearbox.

For the 1995 model year, Audi dropped the 100 nameplate, calling it the A6 instead. In addition, what had previously been sold as the S4 became the S6, however the two models became completely independent of one another after Audi's replacement of the 80 with the A4 model in 1994. The V8 was eventually replaced by the A8 in 1994.

Audi 100 C4, 1991–1997


A heavily revised C3, the C4, was introduced in 1991. The C3-platform V8 continued to be sold as a separate line. The major change was the introduction of a 2.8l V6 engine. It was later joined by a 2.6l variant. They were essentially the same engines as the two V6 introduced for the 1992 Audi 80. The option of quattro all wheel drive was an option across the range, and the Audi 100 quattro was available with a ZF 4-speed automatic gearbox.

For the 1995 model year, Audi dropped the 100 nameplate, calling it the A6 instead. In addition, what had previously been sold as the S4 became the S6, however the two models became completely independent of one another after Audi's replacement of the 80 with the A4 model in 1994. The V8 was eventually replaced by the A8 in 1994.

Thursday, September 18, 2008

Audi V8L quattro


Audi V8

The Audi V8 was a large luxury sedan built by Audi AG of Germany from 1988 to 1994 as the company's range-topping model, and was the first Audi to use its namesake engine configuration. It was replaced by the A8 in 1994, though the A8 would not be sold in North America until the 1997 model year.

History

Although the vehicle was based on VW/Audi's existing C3 platform (namely the 100/200 sedan), the V8 model featured standard quattro all-wheel drive and a 32 valve, DOHC V8 engine with either a five-speed manual or four-speed electronically controlled automatic transmission, giving it the power and road-holding ability to match the V8 powered offerings from BMW and Mercedes-Benz. The V8 closely resembled the 100 and 200 models, although a unique grill design, extended wheelbase, pronounced wheel arches and larger wheels helped distinguish it. Much attention was lavished on the vehicle's new engine, although the V8 was also significant in that it was the first production Audi to combine the quattro system with an automatic transmission.

The 3.6 L (3562 cc) powerplant was essentially two four-cylinder engines which had been mated at the crankshaft to form a V8. In this case it was the Volkswagen Golf GTI's 1.8 L, twin cam, 16-valve inline 4-cylinder that provided the starting point. Power output was very strong for the day, with 250 PS (184 kW/247 hp) and 340 N·m (251 ft·lbf) of torque available over a fairly wide powerband.

Audi introduced a long wheelbase version in 1990 and in 1991 made a 4.2 L (4172 cc) powerplant with 280 PS (206 kW/276 hp) and 400 N·m (295 ft·lbf) available. Like the base model, it had standard quattro and an optional automatic transmission, but a six-speed manual gearbox replaced the 5-speed of the 3.6 model.

The car's base price in 1994, its final year of production, was US$58,700.

Motorsport

Audi developed a Group A competition version of the V8 for entry into the DTM (German Touring car Championship) and began racing with it in 1990 with Schmidt Motorsport running the operation and Hans-Joachim Stuck, Walter Rohrl and Frank Jelinski driving. Stuck won the title, and the following year Audi added a second team to the mix, Audi Zentrum Reutlingen. SMS continued with Stuck and Jelinski, while AZR raced with Frank Biela and Hubert Haupt. Biela gave Audi another crown in 1991, but was unable to defend the title in 1992. After that season, the DTM organizers deemed the V8's crankshaft illegal and Audi retired from the championship.

Audi quattro ( 1988 )


Audi Quattro

The Audi Quattro was a famous and historically significant Audi road and Rally car. It was special in that it was the first AWD Grand Tourer since 1966's Jensen FF. Officially, the model name is simply "Quattro", always with a capital "Q" (although the graphics on the car, confusingly, refer to the AWD system and use a lowercase "q"). The word "quattro" with the lowercase "q" is used to refer to either the Audi AWD system, or any AWD version of an Audi automobile. To avoid confusion, it is also commonly referred to as the Ur-Quattro (the "Ur-" prefix is a German augmentative used, in this case, to mean "original" and is also applied to the first generation of Audi's S4 and S6 sport sedans, as in "UrS4" and "UrS6").

European Distribution

Audi released the original Quattro in 1980, making it both the first car to feature Audi's quattro All Wheel Drive system (hence its name) and the first to mate quattro with a turbocharged engine. The powerplant was a 2.1 L, single overhead cam, 10 valve straight-5 originally making 160 hp (149 kW) and eventually receiving upgrades to 200 hp and then to a twin-cam setup producing 220 hp (164 kW). It is considered one of the most significant rally cars of all time, and was one of the first to take advantage of the then-recently changed rules which allowed the use of all-wheel-drive in competition racing. Many critics doubted the viability of all-wheel-drive racers, thinking them to be too heavy and complex, yet the Quattro was an instant success, winning its first rally on its first outing. It won competition after competition for the next two years.

Total road car production is around 11,000 vehicles over the period 1980-1991. The body style received very little modification during its production run, the only significant changes were made for the 1985 model year, which included a new sloping front grill, headlights, trim and badging changes. All Quattros were hand built in Germany by a dedicated crew.

North American Distribution

Sales of the Quattro in North America began with the 1983 model year and continued through 1986. Total sales in the USA was 664 units.

The Audi Sport Quattro

The Audi Sport Quattro was a Quattro program car developed for Group B rallying homologation, and sold as a production car in limited numbers - it featured a different body shell and a significantly shorter wheelbase.

Other information

The Quattro is also famous for being a career highlight of one of the pre-eminent women in rally racing, Michèle Mouton.

In 2004, Sports Car International named this car number four on the list of Top Sports Cars of the 1980s.

Audi V8


Audi V8

The Audi V8 was a large luxury sedan built by Audi AG of Germany from 1988 to 1994 as the company's range-topping model, and was the first Audi to use its namesake engine configuration. It was replaced by the A8 in 1994, though the A8 would not be sold in North America until the 1997 model year.

History

Although the vehicle was based on VW/Audi's existing C3 platform (namely the 100/200 sedan), the V8 model featured standard quattro all-wheel drive and a 32 valve, DOHC V8 engine with either a five-speed manual or four-speed electronically controlled automatic transmission, giving it the power and road-holding ability to match the V8 powered offerings from BMW and Mercedes-Benz. The V8 closely resembled the 100 and 200 models, although a unique grill design, extended wheelbase, pronounced wheel arches and larger wheels helped distinguish it. Much attention was lavished on the vehicle's new engine, although the V8 was also significant in that it was the first production Audi to combine the quattro system with an automatic transmission.

The 3.6 L (3562 cc) powerplant was essentially two four-cylinder engines which had been mated at the crankshaft to form a V8. In this case it was the Volkswagen Golf GTI's 1.8 L, twin cam, 16-valve inline 4-cylinder that provided the starting point. Power output was very strong for the day, with 250 PS (184 kW/247 hp) and 340 N·m (251 ft·lbf) of torque available over a fairly wide powerband.

Audi introduced a long wheelbase version in 1990 and in 1991 made a 4.2 L (4172 cc) powerplant with 280 PS (206 kW/276 hp) and 400 N·m (295 ft·lbf) available. Like the base model, it had standard quattro and an optional automatic transmission, but a six-speed manual gearbox replaced the 5-speed of the 3.6 model.

The car's base price in 1994, its final year of production, was US$58,700.

Motorsport

Audi developed a Group A competition version of the V8 for entry into the DTM (German Touring car Championship) and began racing with it in 1990 with Schmidt Motorsport running the operation and Hans-Joachim Stuck, Walter Rohrl and Frank Jelinski driving. Stuck won the title, and the following year Audi added a second team to the mix, Audi Zentrum Reutlingen. SMS continued with Stuck and Jelinski, while AZR raced with Frank Biela and Hubert Haupt. Biela gave Audi another crown in 1991, but was unable to defend the title in 1992. After that season, the DTM organizers deemed the V8's crankshaft illegal and Audi retired from the championship.

Audi Sport quattro S1


The Audi Sport Quattro S1 was introduced at the end of 1984 as an update to the Audi Sport Quattro. The car featured a inline 5-cylinder engine that displaced 2,110 cc (128.8 cu in) and produced an officialy quoted figure of 350 kW (480 PS/470 bhp). However, the turbocharger utilised a recirculating air system, with the aim of keeping the turbo spinning at high speed, and the actual figure was in excess of 500 bhp (373 kW/507 PS) at 8000 rpm. In addition to the improved power output, an aggressive aerodynamic kit was added that featured very distinctive wings and spoilers to the front and rear of the car to increase downforce. The weight was lightened to just 1,090 kg (2,403 lb), and now accelerate from 0-100 km/h (62 mph) in just 3.1 seconds.

Some of the cars were supplied with a "power-shift gearbox", which is said to be a forerunner of today's Direct-Shift Gearbox (DSG) technology.

The S1 proved to be an immediate success in the rally circuit, helping Walter Röhrl and Christian Geistdörfer win the 1985 San Remo Rally. A modified version of the S1, was also driven by Michèle Mouton. The S1 evolution would become the final Group B car produced by Audi, with the works team withdrawing from the Championship following the 1986 rally in Portugal.

Twenty years after the cancellation of Group B, the Sport Quattro S1 was still widely regarded as the most powerful rally car ever fielded in international competition, with the final factory machines of 1986 rated at an incredible 441 kW (600 PS/591 bhp).

In addition to Group B competition, the S1 won the 1985 Pikes Peak International Hill Climb with Michèle Mouton in the driving seat, setting a world record time in the process. This victory was repeated in 1987, this time at the hands of Walter Röhrl, and again in 1988 (Michèle Mouton) and 1989 (Bobby Unser), completing a hat-trick.

Audi Coupe GT


Audi Coupe GT

The Audi Coupe GT was a 2-door sports car produced and sold by Audi from 1981 to 1987. The car was an attempt by Audi to offer a more affordable version of its turbocharged, all-wheel drive Quattro. The Coupe GT featured a similar body shape to the Quattro, but without the knife-edged fender flares of the more expensive car. Mechanically, the biggest changes from the Quattro to the GT were the use of a naturally aspirated 5-cylinder engine and a front-wheel drive drivetrain.

The Audi Coupe range was fitted with the quattro All Wheel Drive system from late 1984 to produce the Audi Coupe quattro, a model which was rarer than the Turbocharged Quattro model.

Audi Sport quattro


The Audi Sport Quattro was a Quattro programme car developed for homologation for Group B rallying in 1984, and sold as a production car in limited numbers. It featured an all aluminium alloy 2,133 cc (130.2 cu in) (2.1 L) 20v DOHC engine slightly smaller than that of the Audi Quattro (in order to qualify for the 3-litre engine class after the scale factor applied to turbo engines). In road-going form the engine was capable of producing 225 kW (306 PS/302 bhp), with the competition cars initially producing around 331 kW (450 PS/444 bhp). The vehicle also featured a body shell composed of carbon-kevlar and boasting wider arches, wider wheels (nine inches as compared to the Ur-Quattro's optional eight inch (203 mm) wide wheel rim), the steeper windscreen rake of the Audi 80 (requested by the Audi Sport rally team drivers for improved visibility) and, most noticeably, a 320 mm (12.6 in) shorter wheelbase. This was carried out in order to improve handling potential in the face of newer, smaller competition, such as the Lancia 037 and the Peugeot 205 T16, which had been purpose-built from the start for Group B rules.

A total of 224 cars of this "short version" Sport Quattro were built, and were offered for sale at a heady price of 203,850 German Marks.

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