Recent News

Simple Mortgage Definitions : Homeowners Insurance

All about homeowners insurance including how it works and which types of coverage homeowners require. Shop for today's mortgage rates, too. Interview Series: Tom Woods, Chairman Of The Board, National Association of Home Builders interviews Tom Woods, Chairman Of The Board, National Association of Home Builders (NAHB). An in-depth look at the economy and U.S. housing.

Forecast: New Opportunity As Mortgage Rates Hit 6-Month Low

Falling 30-year mortgage rates help today's home buyers to "afford more home", and give more than 6 million homeowners an opportunity to refinance a loan.

So Many Mortgage Choices: Which Is Best For You?

Have a plan to choose the best possible mortgage for your home, and to get the lowest mortgage rates possible. Clear advice for buying a home and getting a low mortgage rate.

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

How FHA mortgage insurance premiums work, and how to cancel your monthly MIP. With the right steps, eliminate FHA MIP in 30 days or fewer.

USDA Home Loans – USDA Loan Rates & Requirements

The USDA Rural Housing mortgage allows 100% financing and is available in most parts of the country. Review qualifications and get rates.

Mortgage Rates Today – Should I Lock Today’s Rate?

Current mortgage rates and mortgage market movement. Today's mortgage rates and mortgage news. Live rate quotes available. News and data provided by MBSQuoteline, a real-time mortgage market data service available to loan officers, real estate agents, and other finance professionals.

New “Credit Card” Rule Makes Mortgage Qualification Easier

A change in the way credit card debt is calculated makes it easier for to get mortgage-qualified. Read more about the change and see today's live mortgage rates.

Your Guide To 2015 U.S. Homeowner Tax Deductions & Tax Credits

U.S. homeowners are eligible for tax credits and tax deductions from the IRS. Maximize your tax return claims. Complimentary mortgage rate quotes available. Updated for 2015.

Stop Paying FHA MIP + 5 Other Reasons To Refinance Right Now

Freddie Mac reports mortgage rates falling to 6-month bests. With rates this low, huge numbers of homeowners should consider doing a mortgage refinance now.

New Rules In Effect For Self-Employed Mortgage Borrowers

Good news for the nation's 14-million self-employed workers -- mortgage lenders are making it easier to get approved for a purchase loan or home refinance.

Why Homeowners Now Love The 15-Year Fixed Rate Mortgage

A growing number of homeowners are ditching their 30-year fixed rate home loans in favor of the 15-year mortgage -- and their long-term savings are huge.

For Today’s Home Buyers, Average Downpayment Size Shrinks

Home buyers are putting less money down at the time of purchase. Some of the programs they're using to get this done, and why being "house-poor" is no good.

The Appeal Of The “Cash-Out” Refinance

The cash-out refinance is back. With mortgage rates low and home values rising, homeowners reason and opportunity to cash out their real estate holdings.

New FHA Rules Affect Approvals, Alter Income & Debt Calculations

The FHA changed how it treats overtime income, part-time income, and gift funds; and, also how it treats student debt and loans for cars. This is big news for buyers of homes.

Looking for low mortgage rates today? You're not alone. Millions of U.S. consumers shop for mortgage rates annually. Some get the lowest mortgage rates available and others overpay.

Shopping for a mortgage can be a challenge. This is because mortgage rates change all day, every day. Plus, there's no formula to show where rates will go next.

Mortgage rates can change up to 5 times daily, reacting to world news, economic events, and Wall Street sentiment. The rates you see from a lender in the morning are rarely the same rates that you'll see in the afternoon. And, certainly, by the next morning, mortgage rates have changed again.

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As mortgage rates have dropped since 2009, tens of millions of U.S. homeowners have refinanced their homes. To "refinance" is to replace your current mortgage with a new one -- often one with a lower mortgage rate.

Refinances come in three main varieties -- the cash-out refinance, the cash-in refinance, and the rate-and-term refinance.

With a cash-out refinance, a homeowner converts home equity into cash, with no restrictions on how the cash is used. Some homeowners use cash-out mortgages to pay for home repairs; or, to pay for a college or post-graduate education; or, to fund downpayments for a future home purchase.

Cash-in refinances are the opposite of cash-out refinances. With cash-in refinances, homeowners lower the amount owed on the home -- often to eliminate mortgage insurance or to get access to lower mortgage rates. Less than 5 percent of all refinances are of the cash-in variety.

The most common refinance type, then, is the rate-and-term refinance.

In a rate-and-term refinance, the homeowner lowers its loan's current mortgage rate; shortens its loan's term (i.e. length in years); or, does both. An example of a rate-and-term refinance is lowering your mortgage rate from 6% to 4%.

Rate-and-term refinances are available for all loan types, and some versions are "branded", as with the FHA Streamline Refinance and VA Streamline Refinance (IRRRL) programs. The Home Affordable Refinance Program (HARP) is also a rate-and-term refinance program.

At today's mortgage rates, the typical refinancing homeowner can reduce monthly payments by one-fourth.

Banks are making it easier to get approved for a mortgage today, which is great news for US. home buyers. Low- and no-downpayment mortgages are more abundant than during any period in the last 10 years; and, mortgage rates today are lower than they've been in history.

For buyers with a budget and a plan, buying a home has never been easier.

Home shoppers who want to make the smallest downpayment possible have access to the VA loan and the USDA loan -- both of which allow for 100% financing. Backed by the Department of Veterans Affairs and the U.S. Department of Agriculture, respectively, these programs require no downpayment whatsoever and provide flexible approval standards for eligible buyers.

Today's buyers also have access the FHA mortgage which requires just 3.5% down. The FHA is the world's largest insurer of mortgage loans and mortgage rates for FHA mortgages rival the mortgage rates offered on conventional loans backed by Fannie Mae or Freddie Mac.

Meanwhile, for buyers making a downpayment of twenty percent or more, mortgage options are plentiful, including access to construction loans for financing home improvements.

First-time buyers, repeat buyers, and real estate investors are benefiting from today's low mortgage rates and access to a wide array of products.