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 »
People who want to buy a home in America usually choose a 30-year fixed rate mortgage. It is estimated that just 3 years ago that 2/3 of all mortgage applications were 30-year mortgages, and 86% of purchase applications were 30 year notes. But as interest rates are continuing to rise in 2018 into 4.6% or… Read More »
With home prices soaring and people having more equity in their homes, it is not surprising that they want to refinance. Whether they want to pay off debt or do home renovations, a refinance into a lower rate and taking out cash can be a good way to do many things that cost a lot… Read More »
If you want to buy your first home and have some flexibility about where to live, you may want to look at some of the hottest housing markets in the US. As you consider where to live and buy your first home, you want to look at factors such as job growth; affordability; vacancy rates;… Read More »
Home improvements are on a lot of minds in 2018. The housing market is hot, and home values are up by 7% overall from last year. To take advantage of new home improvement financing, rising home equity and property values, many home owners want to do home remodeling or repairs. With the Housing Markets Surging,… Read More »
Buying a new home is a special experience and part of the American Dream and applying for a mortgage as a first time home buyer can be challenging. It also is a huge personal and financial step for most of us, and it is common to experience stress. But there are some simple steps to… Read More »
Most Americans need to get a mortgage to buy a home; current statistics state that 87% of home buyers use mortgage financing. But it is rare in 2018 to be able to buy a home for 100% of the purchase price. In most instances banks and lenders want the borrower to have skin in the… Read More »
If you are like millions of Americans after the last financial downturn, you may have had to file for bankruptcy. Whether you could not keep up with your mortgage or had financial problems with your business, having a bankruptcy on your credit report can complicate getting a mortgage loan. But it is not impossible by… Read More »
Most Americans want to buy a home for the first time at some point in their lives and there are many attractive mortgage loan programs worth considering. It is no secret that money and finance issues often interfere with the ability to buy that first house. According to a recent survey by Apartment List, a… Read More »
2019 is just around the corner and refinance mortgage rates are on the way up. According to Freddie Mac, the average rate on mortgage refinance loans today is 4.6%. If you been considering a refinance as a new home owner, you may want to get it done sooner than later. Some experts believe that with… Read More »
After the mortgage crash of 10 years ago, stated income loans disappeared. These were loans where the lender did not verify income; they simply took borrowers at their word that they had the income that they stated. To some degree, the old stated-income mortgages were part of the reason for millions of foreclosures that threatened… Read More »
Are you a first-time home buyer? You may want to check out some of these smart home technology secrets we list below. These cool devices and tech can really make your home a more convenient and efficient place to live. Robot Vacuum Cleaner Keeping your first home clean and tidy is important. Floor cleaning and… Read More »
Why No PMI Loans Are Stealing FHA’s Market Share for First Time Home Buyers Loans Getting a home loan with less than a 20% down payment is not difficult. It is a myth that you need to have that large of a down payment in most cases to buy a home. You may have seen… Read More »
Subprime loans were the bane of the last financial downturn. The Subprime mortgage product, which are home loans to people with poor credit, low down payments and little verifiable income, were partially responsible for the mass of mortgage defaults that left the US and world economy reeling in 2008. After the housing crash, subprime mortgage… Read More »
Many people want to buy investment properties that make them money. But how can you choose the best place to buy investment properties so your dream will become a reality? Below are some of the most important factors to look at as you decide which city to invest in: #1 Jobs and Demographics A real… Read More »
In late July 2018, the Federal Reserve stated that there is strong economic growth, which means it will continue to increase interest rates to head off inflation. The current Federal Funds Target rate is in the range of. 2%. The Fed believes the US economy is rising at a good rate and household spending is… Read More »
Most of us want to get a mortgage at the lowest possible interest rate and will make home buying decisions based upon getting a rate as low as possible. But as most of us know, mortgage interest rates go up and down, and there can be times when we want to refinance and possibly pull… Read More »
It has been a decade since the housing crash put millions of American families into foreclosure. After years of foreclosure rates falling, the number of mortgages in 2018 that are in foreclosure has fallen to a level that has not been seen since before the financial downturn. Is this good news for people with bad… Read More »
Home renovation TV shows will usually paint a backyard pool in a positive light. But should you put in a swimming pool or spa in your home if you want to sell your home for more money when you put it on the market? Many experts say that if you want to have a pool… Read More »
America is moving into a longer term higher interest rate environment. You may have noticed a lot of advertisements for hybrid loans like the 3/1 and 5/1 ARM mortgage. In 2018, we have seen mortgage rates move above 4% and stay there, with rates now in the 4.6% range for a fixed rate, 30-year note.… Read More »
For most homeowners, the most difficult part of getting home improvements and a remodel done is not the work itself. The hardest thing is to find a good contractor to do the work. Before taking out a HELOC or an equity loan, it makes sense to get a plan. Redoing a kitchen or bathroom is… Read More »
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