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 to consider before signing a new contract. Which Home Refinance Program Is… Read More »
Many Americans remain optimistic about the economy in 2017 and many renters are considering home-ownership for the first time. With consumer confidence soaring once again, many people are preparing for the dream of owning a home and are planning to apply for an FHA mortgage in the coming year. The economic signs are pointing to strong… 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 continue to hover in the 4% range as of the 4th quarter of 2017. Refinancing a mortgage on your home property can save you hundreds of dollars per month, freeing up money for many other expenses of life.… 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 out or… Read More »
When it comes to credit scores, Americans are seeing some positive trends in 2018. For the first time in history, the average national credit score for Americans hit 700, according to FICO, which is one of the most common credit scores used by lenders. The range of FICO scores goes from 300 to 850. How… Read More »
Washington, D.C. April 17, 2018 – As of April 2018, mortgage rates continue to rise. There are various reasons for this. The Mortgage Reports states there are concerns about oil prices, trade wars and politics in the Middle East with the recent action in Syria. There also have been economic reports that have come out; retail… Read More »
Why don’t more people own their own home? For many, financial issues stand in the way. According to a recent survey of millennial renters, 80% want to buy a home but say they cannot afford to do so. But many of those renters may think they cannot qualify for first time home mortgage when they… Read More »
According to national surveys in March and April 2018, Americans are growing more confident in the national economy and their overall financial situation. This is a good thing, but whether this translates into more people buying homes in 2018 remains to be seen. Heading into the spring, which is a prime home buying season, about… Read More »
Millennials who want to buy a home have probably heard of Fannie Mae, Freddie Mac and FHA. All of these are government backed entities that use different methods to extend loans to first time and other types of buyers who may have had difficulty getting credit in the past. This article will help you to… Read More »
Are you retired or about to retire and want to get a mortgage? Believe it or not, it is possible to get a mortgage as a retiree with some employment income or even none at all. In some cases, retired home buyers may have the ability to pay cash for their house but may want… Read More »
People who have never bought a home before might think that once they have been pre-qualified for a mortgage, they may be good to go. Not the case. There is a difference between mortgage pre-qualification and mortgage pre-approval. There is a right way and wrong way to apply for a first time home buyer loan… Read More »
After the financial crash of 10 years ago, subprime mortgage bond issuance has been rare. It was those risky securities that effectively brought the US economy and world economy to its knees. But recent information from the financial industry suggests investors are buying subprime mortgage bonds again. According to the Financial Times, subprime mortgage bond… Read More »
Are you getting ready to buy your own home after years of paying rent? You may need to increase your credit score. People with higher credit scores have an easier time being approved for a loan and getting the best interest rates. But if you do not have great credit, you may want to consider… Read More »
As of March 2018, mortgage rates have been steadily on the rise for at least the past two months. The Federal Reserve has increased its benchmark interest rates again. While this increase does not always trigger higher mortgage rates automatically, there is little question that rates are quite a bit higher than the beginning of… Read More »
Real estate often produces many wealthy people, so there are many reasons to consider buying an investment home. But like any type of major investment, you are wise to understand the subject well before you put your money on the line. With the information below, you will be better prepared to buy your first investment… Read More »
Mortgage interest rates for refinancing in 2018 are not as low as in the past, but you still may be able to refinance into a lower rate in some cases. If you can get a rate that is .5% or more below where you are now, it may be worth pulling the trigger on a… Read More »
There are many reasons to buy your own home and stop renting. But there are many factors to consider before deciding to make the plunge into home ownership. It worth considering this question carefully; one of the reasons for the last financial downturn was too many people had mortgage they could not afford. When millions… Read More »
For decades, homeowners have turned to cash out refinancing and HELOCs to receive low interest money and to maximize tax deductions observed by the Internal Revenue Service. The GOP led Congress made some changes in 2018 that may change the value of mortgage refinancing for cash back when it comes to leveraging tax deductions. Let’s… Read More »
Many people who want to get a mortgage may not know they can use rental income to sometimes qualify for the loan. This can apply to a property you currently own and rent as well as a property you are planning to buy and rent. Below is more information about how VRBO rental income works… Read More »
After a small drop in the last month in March 2018, mortgage refinance rates have been on the rise again as the Federal Reserve has been raising rates. According to the Freddie Mac weekly rate survey of the last week of March 2018, the rate for a 30 year fixed rate mortgage was 4.58% from… Read More »
How does one go from dreaming about owning their first home to holding a set of keys your hands? After all, one of the most challenging parts of buying a home for the first time is coming up with a down payment without any existing equity. Fortunately for you, there are thousands of down payment… Read More »
With home values rebounding dramatically the last few years, many home-owners are mulling over an second mortgage or credit line that provides them access to quick cash at a cheap rate. A home equity loan or line of credit are still the two most popular second mortgage programs in the new year. A person’s home… Read More »
An FHA loan is a great deal for many Americans because they offer substantial credit flexibility and as low as a 3.5% down payment, with very low interest rates. These mortgage loans are guaranteed by the Federal Housing Administration, so lenders are able to offer them to more Americans with lower incomes and credit scores.… Read More »
Yes, interest rates have ticked up, but there may be home refinancing opportunities that offer lower rates, reduced monthly payments and the elimination of being required to pay mortgage insurance every month. Home mortgage refinance rates are still very low, although they have edged higher in the past year. It still is a good time… Read More »
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