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For every $100,000 borrowed on a 15-year mortgage, you'll save nearly $44,000 over the long-term in mortgage interest costs over a 30-year.
The Mortgage Refinance Boom is ongoing. At today's rates, you could save 29% off your mortgage interest payments.
Is an FHA mortgage better for you than a conventional one? A quick rundown of each product and a comparison chart.
So why might you switch to a 15-year mortgage? The answer is simple. Huge long-term savings.
Refinance applications rose 13.5% this week, straining mortgage lenders and underwriters. Expect higher mortgage rates to slow the flood.
In a mortgage policy reversal, now, with a signed job offer letter in-hand, or proof of a pending pay raise, you can use your future, expected income to get mortgage-approved. Get a job and close within 90 days.
If you have an ARM and it's adjusting, it may be time to refinance. The index against which most mortgages adjust is 9 months off its bottom.
Last quarter, 1 in 4 conforming mortgage applicants ditched their 30-year mortgage for a 15-year fixed. There are good reasons why, too.
The Refi Boom has been kind to the 15-year fixed rate mortgage. Maybe it's time you looked at 15-year mortgage rates, too.
You can't shop for a mortgage rate using APR. APR is among the most easily manipulated numbers in the mortgage business.
Mortgage rates are down more than 1% in the last year and mortgage payments are down 13%. The "break-even point" on today's mortgages comes relatively quickly -- even after accounting for closing costs.
With Freddie Mac's published mortgage rates now sub-4 percent, homeowners are doing what it takes to refinance into today's low mortgage rates -- even if it means bringing some cash to closing.
Last quarter, not a single bank tightened its prime residential mortgage guidelines. The economy is looking up, and so are mortgage rates.
There's a prescribed method for giving and receiving cash gifts for downpayments for a home. You can't just deposit the money into your bank account. If you do, your lender may reject the funds.
ARM mortgage rates are low. It's now 1/2 percent cheaper to refinance into a new ARM rather than letting your existing ARM adjust to the market. That hasn't happened in years.
These days, different lenders apply different underwriting standards. A home loan that's denied by one bank may be approved by another. Here's how to re-apply.
A pending mortgage policy change threatens to end zero closing costs mortgages for good. The end of "no fee" mortgages may be here sooner than you think.
The Payroll Tax Extension raises mortgage costs. For conforming mortgages, it's +1/8% to rate. For FHA, PMI premiums are rising. Beat the "loan tax". Lock your rate ASAP.
Start that mortgage application! The government is financing its 2012 Payroll Tax Extension via new, mandatory mortgage fees. You'll get lower mortgage payments on your upcoming purchase or refinance by applying for your loan today.
Record-low mortgage rates draw refinancing households away from 30-year fixed-rate mortgages into shorter-term products such as the 15-year fixed-rate mortgage.
Mortgage rates are very low right now. Amortization schedules will never be in your favor like this again. Take advantage.
If you've ever thought of using a 15-year fixed-rate mortgage, talk to your lender. Mortgage rates are rock-bottom and there's a lot to gain from "going 15".
There is a big advantage to "going FHA" these days -- especially if you're making a low downpayment purchase. FHA mortgage rates are lower than they've ever been as compared to conventional ones, and FHA mortgage insurance rates have yet to rise.
Today's refinancing homeowners can lower long-term mortgage costs by one-fifth -- enough to pay for a college education, in some cases.
As programs like HARP II and the FHA Streamline Refinance break down refinance barriers, big banks are raising minimum mortgage standards. Mortgage rates are the lowest in history right now but fewer applicants qualify.
Cash-in mortgages are in demand, but are they right for you? Check your alternatives first including FHA Streamline Refinance, HARP II, and the jumbo market.
Most people know that low FICO scores influence the mortgage rates for which they're eligible. For the past 3 years, though, they've raised closing costs, too.
If you have an adjusting ARM, you've been lucky -- it's been adjusting lower for the past few years. Unfortunately, that's about to change
It's easy to feel overwhelmed by the numbers on a Good Faith Estimate. In fact, some lenders count on it. Here's how to beat the banks at their own game.
The loan-level pricing adjustment (LLPA) system contains more than a dozen "risk characteristics". Here's how they work, complete with an online LLPA calculator.
In mortgages, nothing's done until it's done. Here are 8 things you should absolutely not do between application and funding. Ignore them at your own peril.
With a 15-year fixed rate loan, you can save $47,000 per $100,000 borrowed. And, at today's rates, the payments aren't even so bad.
You can't tell your mortgage underwriter to "hurry up," but you can follow a few simple steps to ensure your loan closes faster.
When it comes to shopping for low mortgage rates, you're at the market's mercy and the market is merciless. Want to give yourself an advantage? Read on...
As an active loan officer, let me be the first to say, it's not as hard or difficult to be approved for a mortgage as you may have heard.
If you're like a lot of U.S. homeowners, when you refinance, you'll choose a shorter-term mortgage. 30-year loans are less popular these days. And think of all the money you'll save.
You'll pay 18% less mortgage interest at today's mortgage rates as compared to April. No matter when you bought your home, it's time to call a lender.
Knowing how to separate "prepaid items" from "closing costs" can help you shop for lower mortgage rates. And who doesn't want to shop for lower mortgage rates?
Owing to Aristotle, we know that low mortgage rates won't last forever. Here's what rate shoppers can learn from Greek philosophy.
