Mortgage StrategyMarch 30, 2012Mortgage Trends : Homeowners Flock To 15-Year Mortgages Over 30-Year MortgagesLast quarter, 1 in 4 conforming mortgage applicants ditched their 30-year mortgage for a 15-year fixed. There are good reasons why, too.
FHA Home BuyingMarch 26, 2012New FHA Mortgage Insurance Premiums : A “Two-Class” System For FHA MortgagesThe FHA has restructured its mortgage insurance rates for 2012. This guide details the changes and can help you keep your FHA payments low.
FHA Home BuyingFebruary 28, 2012April 2012 : The New FHA Mortgage Insurance Premium (MIP) ScheduleThe FHA will raise its mortgage insurance premiums April 1, 2012. Here is a listing of the new FHA MIP schedules.
Mortgage StrategyJanuary 10, 2012No More No Fee? “Zero-Closing-Cost Mortgages” Face ExtinctionA 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.
Mortgage StrategyDecember 29, 2011Save $45,000 Per $100,000 Borrowed With A 15-Year Fixed Rate MortgageRecord-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 StrategyNovember 1, 2011Credit Score Under 740? Prepare To Overpay On Your Mortgage.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.
FICO & Credit ScoresOctober 10, 2011Chart : How Does A Foreclosure, Missed Payment, And Maxed-Out Credit Card Change Your FICO ScoreThe company behind the FICO scoring model published a "What If?" series for common, specific credit missteps. See how your scores can change with a foreclosure, missed payment, maxed credit card, and more.
Mortgage RatesSeptember 6, 20115-Year ARM Falls Below 3 PercentThe 2011 Refi Boom's Second Wave has started. 5-Year ARMs are leading the charge. Assuming discount points are paid, ARMs are now below 3 percent.
ForeclosuresAugust 26, 2011Foreclosures As A Percentage Of All Home Sales, By StateIn some states, more than half of home sales are for homes in foreclosure. Where does your state rank?
Mortgage StrategyAugust 8, 2011Zero-Cost Mortgage Rates More Popular In 2011It appears that lower mortgage rates come with a price. Closing costs rising in most states. Look zero-cost instead.
Mortgage RatesJuly 26, 2011FHA Mortgage Rates Vs. Conforming Mortgage Rates : Which Are Cheaper?The FHA insures 25% of the mortgage purchase market these days, up from 5 percent in 2006. Is it because FHA mortgages are cheaper than conforming ones?
Mortgage StrategyJune 9, 2011Don’t Pay Closing Costs When Mortgage Rates Are FallingZero-cost mortgages are terrific in a falling interest rate environment, like the one we're in now. They eliminate sunk costs completely and offer an immediate refinance payback.
FHA Home BuyingApril 14, 2011How To Beat The April 18, 2011 FHA Mortgage Insurance IncreaseFHA mortgage insurance rates are increasing. Beat the increase by having your FHA Case Number assigned. All you have to do is give a mortgage application. I'll handle the rest for you.
FHA Home BuyingMarch 24, 2011FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011To lower costs, newspaper editors are replacing beat writers with "article syndication". Syndication can be a good strategy, but it requires care. The syndicated article highlighted here is 11 months -- and 2 FHA guideline changes -- behind-the-times. It's patently incorrect.
Conforming MortgagesDecember 10, 2010Winter 2011 : “Cheat Sheet” For The New Fannie Mae GuidelinesIn Winter 2011, Fannie Mae changed its mortgage guidelines to favor personal income over personal assets. Check the "Cheat Sheet" to see how you'll be affected.
Conforming MortgagesNovember 30, 20102011 Conforming Mortgage Loan Limits By County, Including “Normal” and “High-Cost” AreasIn 2011 -- for the 6th consecutive year -- the single-family conforming mortgage loan limit will be $417,000. The "high-cost" area program is extended, too.
Mortgage StrategyOctober 12, 2010In Charts : The Falling, Long-Term Cost Of A 30-Year Fixed Rate MortgageAs compared to the day *after* the expiration of the $8,000 home buyer tax credit, today's cost of carrying a 30-year fixed rate mortgage to term is lower by $51,000. Mortgage rates are on a 6-month rally.
Economic NewsSeptember 27, 2010How Deflation Changes Mortgage RatesAccording to Google, "deflation" chatter is growing. It's extending the Refi Boom for another few weeks.
FHA Home BuyingSeptember 17, 2010FHA Mortgage Insurance Premiums To Rise In October : Should You Act Now, Or Should You Wait?For the second time in 4 months, the FHA is changing the way it charges mortgage insurance.
Mortgage RatesApril 1, 2010The Mortgage Rate Roller CoasterRide the mortgage rate roller coaster. Literally.