Tag Archives: mortgage

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Fixed-rate mortgage and adjustable-rate mortgages are the two primary mortgage types for homebuyers. While other loans options fall within these two categories, the first step in homebuying is determining which of the two types best suits you! Fixed-Rate Loan A fixed-rate mortgage is exactly as it sounds – it’s a home loan with an interest … Continue reading Choosing Between a Fixed vs. Adjustable Rate Mortgage


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Whether you’re a first-time homebuyer or an experienced buyer, there are some important things to keep in mind to ensure that your home mortgage process goes smoothly. Pay Your Bills on Time…Every Time! A good credit history is vital when applying for a home loan. One of the best ways to have good credit is … Continue reading 5 Things to Know Before Applying for a Home Loan


Higher Interest Rates Soften Sales

With the presidential election now having been decided, a recent rise in mortgage interest rates is starting to affect home sales. The average rate on a 30-year conventional loan reached the highest level in more than a year. What this increase means for people who can afford it is just an additional frustration, however, for … Continue reading Higher Interest Rates Soften Sales


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As financial markets still react to the results of the U.S. presidential election, the stock market rose sharply, reaching record highs late last week. As a result, mortgage interest rates rose, too. According to Zillow, the 30-year fixed rate went from an average of 3.38% to 3.8% in just a few days. Most mortgage experts … Continue reading Election Results Push Interest Rates Higher… For Now


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Major changes are on the way for the credit reporting industry. Fannie Mae announced that it planned to release previously approved trending credit data update to its Desktop Underwriter program. The program is used by mortgage lenders throughout the United States. The program had been scheduled to be released back in June, but a number … Continue reading Fannie Mae to Release Credit Underwriting Update


The American dream of home ownership isn’t fully realized until you own your home free and clear. And for most of us, that’s the goal we’re working toward… paying off the mortgage and owning our home outright. However, there are some things to consider before you pay off your mortgage. As tempting as it might … Continue reading Thinking of Paying Your Mortgage Off Early? Think Again.


New mortgage disclosure rules have recently gone into effect. With them go some important points to remember in dealing with mortgage lenders. Paying attention to these suggestions will help you navigate the new requirements and make your mortgage experience as smooth and hassle-free as possible. Do meet with your lender and review the variety of … Continue reading Dos and Don’ts to Help Keep Your Mortgage on Schedule


Mortgage Applications Rise by Nearly 5%

The most recent mortgage activity released finally showed an increase in applications after three relatively stagnant weeks. According to the Mortgage Bankers Association (MBA) total applications increase nearly 5% (adjusted on a seasonal basis) for the week ending July 31 versus the previous week. The activity was no doubt fueled by a recent drop in … Continue reading Mortgage Applications Rise by Nearly 5%


All Credit Scores are Not Created Equally

Credit scores often have consumers (and sometimes lenders) scratching their heads and saying “How did they come up with THAT?” The one you hear about the most are FICO scores (an acronym for the Fair Isaac Corporation, the creators of the FICO score). It’s the one that most mortgage lenders use as one of the … Continue reading All Credit Scores are Not Created Equally


Your Credit History And The FHA Loan

Often, prospective borrowers hopeful of qualifying for an FHA loan worry that late or slow payments on their credit history will jeopardize their chance of obtaining FHA approval. Let’s take a quick look at what the FHA lending rules say regarding late payments. In the Housing and Urban Development (HUD) guidelines for participating FHA lenders, … Continue reading Your Credit History And The FHA Loan