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 of 2018. 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… 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 »
Self-employed borrowers sometimes face more challenges when getting a home loan by stating their income. If you have an income that is more difficult to document, this can make it more difficult for the underwriter to approve your mortgage application and this is where the bank statement loan comes in. The reason is that mortgage… Read More »
In 2018, mortgage refinance rates are not nearly as low as they were a few years ago. According to a Zillow report in June 2018, the average mortgage refinance rate for a 30 year, fixed mortgage was 4.75%. With the US economy getting stronger and unemployment low, interest rates have been slowly on the rise.… Read More »
Buying your own home is one of the most important financial steps you will ever make. But many first time home buyers should remember the first step in your house buying process should be getting the loan financing set up before you begin looking at homes. If you cannot close the deal, what is the… Read More »
So, you were recently pre-approved for a mortgage. Congratulations! But don’t pop the champagne until closing day and all the home loan documents are signed and recorded. Despite what you might hear, there are plenty of things you can do to kill your mortgage approval before closing day. Here are some of the most common… Read More »
As mortgage rates rise in 2018 and the long-term outlook is for higher rates, some home owners are deciding to refinance their mortgages now before it is too late. If you have the ability to qualify for a mortgage refinance with a lower interest rate without paying excessive closing costs that reduces your monthly payment,… Read More »
Do you have an average or poor credit score? If so you may not qualify for a conventional mortgage in 2018, but FHA may be the prudent choice for a home loan with average credit scores . For many people with average or worse credit scores, the mortgage that makes the most sense is an… Read More »
After the last financial slow down, getting a mortgage with poor credit was difficult. The federal government cracked down on lending and lenders got scared too extend credit on home loans to any but the best borrowers. While too much lax lending practices went on during the last real estate boom, the over-correction probably went… Read More »
Buying a home has always had its challenges, but it is expected that some homeowner friendly tax deductions will disappear as the Trump tax law takes effect. This will mean that for many Americans, it may not be as good financially to own a home. Yes, home mortgage rates are rising, but there are still… Read More »
Potential home buyers who want to get a manufactured home often wonder how easy it will be to get financing for these properties. While home loans for manufactured houses are not as plentiful as regular homes, there are still some options available, including from government backed home loan programs such as FHA. Most people are… Read More »
Banks and brokers across the country have started advertising ‘low rate home equity loans’ that are supposed to make your life better. That may or may not be the case, but today’s home equity loans are helping people meet their needs by offering access to cash and the terms allow the borrower to repay the… Read More »
People who own their home frequently are watching mortgage rates to determine if now is a good time to refinance their home loan. Whenever you refinance, you always are taking a bit of a gamble because it is hard to say what rates will be tomorrow, let alone next month or next year. When considering… Read More »
Many people who want to buy their own homes are confronted with a big problem: They do not have enough money for a down payment. That is why a lot of Americans are interested in a 100% home loan. A no down payment home loan is a mortgage that finances the entire cost of the… Read More »
In 2018, interest rates for refinancing have moved considerably higher, with conventional 30-year mortgage rates in the 4.5% and 4.6% range. There is a chance rates could edge close to 5% this year. If you are considering a refinance mortgage because you want to secure a low interest rate, you may want to get rolling… Read More »
We have noticed this year that as the Federal Reserve raises key interest rates that we see more mortgage companies advertising refinancing with Low ARM rates. While adjustable rate mortgages are not for everyone, they do have a niche in the mortgage market as many homeowners can find real monthly saving when converting to a… Read More »
What Do You Know About Buying a Home with a FHA Loan? The Federal Housing Administration insures mortgages for home buyers in the United States and has been a popular choice for decades. Potential home buyers often like to consider FHA loans for their mortgage needs because they are generally easier to qualify for. But… Read More »
Many people dream of buying their first home, but they discover during the process how expensive it can be. And it is not just about the price of the home and the down payment. Mortgage closing costs and lending fees can add up to two to five percent of the total purchase price. Then on… Read More »
No matter where you are in life, the decision to purchase your first home is one of the most important ones. But before you can begin shopping with your realtor for a home, you will need to find a mortgage lender and get pre-approved for a mortgage. Getting pre-approved or pre-qualified is a critical step… Read More »
The home purchase process is complex and requires the buyer to make a lot of decisions. It is easy to forget about mortgage closing costs and lending fees associated with home loans. In many cases, when you get to the closing table, you will get a bill that amounts to 3-6% of the loan amount.… 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 »
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