Even though mortgage interest rates have started to edge up, home buyers and existing homeowners considering a home refinance loan with good credit can still get a competitive interest rate in today’s market. But there are still many home refinancing options out there. Which home refinance program is the best and which offers the best… Read More »
Many Americans are feeling optimistic about the economy for 2017 and are planning to apply for an FHA mortgage. The economic signs are pointing to strong economic growth, as the stock market is booming and the Federal Reserve is contemplating as many as three rate hikes next year. One of the very best home loan… Read More »
Donald Trump was elected the next president of the United States, and some financial experts believe that the President-elect could be good for the housing and mortgage industry. One of the areas of real estate that could see more activity is in home equity loans. A home equity loan is a form of a second… Read More »
Many homeowners today are choosing to refinance their mortgage because of the very low interest rates that are usually under 4% as of fall 2016. Refinancing a mortgage on your home property can save you hundreds of dollars per month, freeing up money for many other expenses of life. Also, some of the expenses of… Read More »
If you own a home, you probably have heard about a cash out or cash back refinance. Homeowners are blessed with unique opportunities to access money when refinancing their home. What is a “cash back refinance” and why would you do it? We’ll explain in detail below. Cash Back Refinance Basics A cash back or… Read More »
Pros and Cons of House Buying and Renting It is a question that most people confront sooner or later: When is it time to purchase a home? Buying a home and renting both have their advantages and disadvantages. This article will take a close look at both sides of the rent vs. buy decision to… Read More »
If you are one of the many families that was affected by Hurricane Irma in Florida, you may have heard that there may be mortgage relief available for those hardest hit. Some home owners in Florida may be able to defer payments on their mortgages by applying for forbearance from their lender. This may be… Read More »
Fannie Mae works closely with mortgage loan companies and other stakeholders in the real estate and finance industries to help home owners who have Fannie Mae loans to avoid a foreclosure. However, there are some situations where a foreclosure is unavoidable. When a foreclosure does occur, the goal of Fannie Mae is to sell the… Read More »
There are many potential home buyers in the US who may have difficulty getting a home loan on their own. Experts recommend that they add a co-borrower to the mortgage application. With the co-borrower’s income, it may be more likely that you can get approved for a home loan. If you are considering getting a… Read More »
Many Americans today are considering a mortgage refinance as interest rates continue to be very low. Rates did edge up in 2017 before dropping again, so the buzz for home refinancing has re-surged. In August 2017, 30-year fixed FHA loans were available for well under 4%. With such low rates, it is not a surprise… Read More »
People who are buying their first house typically have a challenge with coming up with the down payment for the home loan. A recent MPA survey revealed that confusion in regards to down payment requirements was one of the main reasons people in the U.S. delay becoming a homeowner, so we’ll discuss some strategies in… Read More »
The interest rates on 30-year mortgages as of August 2017 were at the lowest point for the entire year, at a mere 3.86%. This is the lowest rates have been since November of 2016. Meanwhile, the rates on 15-year mortgages was only 3.16%, which are very popular with people who refinance. Many experts expected that… Read More »
Most people in America think that owning a home is part of the American Dream. That is true, but the process of buying your first home can seem rather daunting. Fortunately, the home buying process is made easier when you choose a good realtor and lender. By working with an experienced real estate agent and… Read More »
Many people in the Houston, Texas area are most likely going to have difficulty in paying their mortgages in the months to come. There are thousands of homes flooded facing huge damage costs, and many people in the flooded areas were not required to have flood insurance. Plus, even people with homes that were not… Read More »
The VA mortgage program is a great way for active duty and many former military to get a home loan with very favorable terms. VA home loan programs are made available in 2017 to retired, discharged, and active military and reservists who meet the necessary qualifications. VA home loans are also available to those with… Read More »
How much do you know about government home loans? First, when we say that, what we really mean is that the loan is backed by the full faith and credit of the federal government. If you default on the government home loan, the US government reimburses the lender for most of the loan balance. Government-backed… Read More »
Lenders want home owners to borrow against their equity in 2017. The question to ask yourself is: Should you? Low interest rates and rising home values are causing more people to take out home equity loans and home equity credit lines. Using your home’s equity can be a wise financial decision in some cases, but… Read More »
People who are weary of paying rent may think that they have no choice because who can afford to put 20% down to buy a home? Fortunately, it’s a myth that 20% is needed to buy a home in America today. With a home mortgage from the FHA, millennials can buy a home much sooner… Read More »
Is the value of your home rising? Do you have at least 10 to 20% equity? Then you may be thinking about tapping some of your hard-earned money with a home equity line of credit, or HELOC. If so, please use this article as your guide to HELOC loans for 2017. HELOC Loan Program Overview… Read More »
People get sick of renting a house or apartment. Why should you be paying for the mortgage of your landlord for year after year? It makes more sense to pay your own mortgage so that you can grow your equity and someday own your home free and clear. The Federal Reserve has kept interest rates… Read More »
For over eighty-three years, American consumers have been buying a home with FHA loan financing. People who have less than stellar credit may be under the impression that they have to wait until they have 740 credit to buy a home. This is not true. Of course, there is no charge to complete an FHA… Read More »
Home values continue to rise, while mortgage rates on cash out refinancing, home equity loans and lines of credit are holding steady or even falling. That is why many homeowners are considering pulling equity out of their homes. With that money, you can afford to do home renovations, pay for college, start a business and… Read More »
In the past, it was challenging to find a mortgage lender that would allow you to refinance your mortgage at a reasonable interest rate if you had little to no equity. If you have no equity, it means that you have little stake in the property if you were not to pay the mortgage. Thus,… Read More »
Credit card debt is a major problem for millions of American households. Credit card debt can be a serious burden when you add it on top of mortgages, car loans and student loans. That’s why a cash mortgage refinance to consolidate credit cards that have adjustable interest rates makes financial sense. According to recent statistics,… Read More »
The housing market in 2017 is strong. Home prices continue to go up in most parts of the country. And it gets better! We are more than halfway through the year, and not only have mortgage rates not gone up much after the Fed hiked rates several times. Home loan rates have actually dropped! That’s… Read More »
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