February 14, 2016 in About Mortgages
Your mortgage lender is going to ask a lot of questions as part of its home loan application. Some of the questions might seem nosy -- and downright rude.
February 12, 2016 in FHA Mortgages
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.
February 12, 2016 in Mortgage News
Fannie Mae survey shows that consumers expect mortgage rates to be higher in 2016 -- but that's what they say EVERY year. Are consumers finally right? Will mortgage rates finally go higher?
February 12, 2016 in Mortgage Rates
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.
February 12, 2016 in About Mortgages
An updated list of low- and no-downpayment mortgages available to today's home buyers. Updated for 2016. Includes access to today's live mortgage rates.
February 11, 2016 in Mortgage Rates
2016 mortgage rates are defying expert predictions. Instead of rising toward 5%, rates are dropping -- big time. Analysis and access to quick, live quotes.
February 11, 2016 in Spanish
Lea aquí las preguntas y respuestas completas sobre el nuevo Programa Conventional 97. Esta publicación permanecerá activa con fines de archivo. Para los compradores de viviendas actuales, existe una gran combinación de hipotecas bajas y sin pago inicial para elegir. Fannie Mae y Freddie Mac ofrecen una hipoteca básica con 5% de pago inicial. El […]
February 11, 2016 in Mortgage Strategy
This post discusses down payments; and, is part of a four-part series meant to help first-time home buyers buy their first home, and get approved for their first mortgage.
February 10, 2016 in Spanish
Tasas hipotecarias cerca de los niveles históricos más bajos El año 2015 se proyecta como otro año sólido para el sector de la vivienda en los Estados Unidos. Las ventas de viviendas están aumentando, la oferta de viviendas está bajando y los precios están subiendo en muchas ciudades y vecindarios. Asimismo, lastasas de interés hipotecarioestán […]
February 10, 2016 in Mortgage Products
For buyers in Hawaii, it would take more than 25 years just to save 10% for a down payment on a home. Thankfully, you don't need to save for 10%. Mortgage options are plenty for today's buyers of homes.
February 9, 2016 in Spanish
La exactitud de la información sobre el préstamo del Departamento de Agricultura de los Estados Unidos (USDA) se remite al día de hoy, 14 de February de 2016. Si usted obtiene su información sobre el préstamo hipotecario del USDA en otro lado, corrobore la fecha de publicación del artículo para cerciorarse de que esté actualizado. […]
February 9, 2016 in Mortgage Strategy
When buying a home, 401(k) retirement plans can be used to fund your downpayment. How this choice affects your finances, and a review of your other options.
February 9, 2016 in Mortgage Strategy
When you're shopping for a mortgage, which is more important -- getting a great mortgage rate or paying fewer mortgage fees? An analysis for rate shoppers.
February 9, 2016 in Mortgage Strategy
Owning a rental building and living in it can be an excellent way to save money on your mortgage, while building home equity for your future. How to do it.
February 7, 2016 in Mortgage Strategy
The "mortgage refinance" goes by many names -- The IRRRL, the FHA Streamline Refinance, the Rate-and-Term, and others. Which is which, and how to qualify for the one you want.
February 6, 2016 in About Mortgages
It's easier than ever to get a mortgage loan approved, but certain behaviors can ruin your loan-in-process. A detailed list, plus access to today's rates.
February 5, 2016 in Economic News
The January Non-Farm Payrolls report beat expectations, but mortgage rates are holding their own. Could this be your last chance to get low rates before market sentiment shifts?
February 5, 2016 in Mortgage Strategy
Between the holidays and the Super Bowl, mortgage rates dropped by a lot. As a result, today's home buyers have a lot more home purchasing power.
February 4, 2016 in Mortgage Rates
Freddie Mac reports 30-year mortgage rates down yet again. Wall Street didn't expect it and today's low rates open home buying and refinance opportunities.
February 4, 2016 in Real Estate News
Selling your home? Make sure you stage it for sale. Staged homes sell 73% faster than non-staged homes; and sell at higher prices, too. Here's how to do it.
February 3, 2016 in Mortgage Strategy
"Seller concessions" allow a home buyer to have its mortgage closing costs paid by the home seller. Option available for FHA, VA, USDA, Conventional, and jumbo mortgages.
February 3, 2016 in Mortgage News
A Fed survey shows mortgage lenders making it drastically easier to get mortgage-approved. Been denied for a mortgage in the past? It's time to re-apply.
February 2, 2016 in Economic News
Non-Farm Payrolls releases Friday. Your mortgage rate quote is likely to change. More on the January jobs report and how it can affect your mortgage loan.
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.Read More
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.
Most Popular Posts
February 12, 2016An updated list of low- and no-downpayment mortgages available to today's home buyers. Updated for 2016. Includes access to today's live mortgage rates.
January 5, 2016Are you FHA Streamline Refinance eligible? Use this easy-to-follow format. Updated for newest changes to FHA MIP. Today's FHA rate quotes available.
February 12, 2016How FHA mortgage insurance premiums work, and how to cancel your monthly MIP. With the right steps, eliminate FHA MIP in 30 days or fewer.
November 13, 2015Easy-to-read HARP 2.0 mortgage guidelines with HARP mortgage rates attached. The latest news, plus live mortgage rates. Safe and secure.
January 18, 2016Credit score requirements are dropping for the FHA mortgage. Analysis and effect on U.S. home buyers, plus today's live FHA mortgage rates.
December 4, 2015Full details about the VA mortgage loan program including comprehensive Q&A, the VA Streamline Refinance (IRRRL), and today's VA mortgage rates which are near their lowest of all-time.
November 28, 2014The USDA home loan program offers 100% financing, low mortgage rates, and a minuscule annual MIP payment. Check your USDA eligibility here.
April 1, 2015The FHA 203k loan is a "home construction" loan available in all 50 states. Find out if you qualify, and get today's live mortgage rates.