Mortgage News

Advice and opinions from mortgage and real estate experts

HARP 2018 – HARP Program Now Extended

The FHFA’s (Federal Housing Finance Agency) Home Affordable Refinance Program was scheduled to end next month. September 30th to be exact. Fortunately for many homeowners  that isn’t the case anymore. Introducing HARP 2018 The FHFA made an announcement on Thursday...

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Strategies To Pay Off Your Mortgage Early

When you take out a mortgage, you’re in it for the long haul – traditional home loans usually take decades to pay off, and a smart home buying budget incorporates mortgage payments and long-term interest into the cost of home ownership. But what if you could pay off...

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Tips For Selling Your Home Fast

“I need to sell my house fast” – this is an overwhelming thought that troubles many homeowners. If you too belong to this league, perhaps you know how frustrating it is to wait for days for the perfect buyer to come along and make you a great offer. It can become even...

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Bad Credit Home Loans

  So the title of this article makes it pretty clear what we're diving into today. Bad credit home loans or home loans for people with poor credit. As Americans we should all have a better understanding of where we are in our quest for the American Dream. Whether...

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Write The Best Property Listing: How To Guide

It's time to put another property on the market again, and sooner rather than later find the best tenants to take it over. That means you're going to need a new eye-catching property listing. Not sure where to start? Not to worry. This guide shows you the best way to...

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How To Compare Mortgage Rates

How to Shop for and Compare Mortgage Rates   Buying a home is a big deal and when you are ready to make that move you want to make sure that you are getting the best mortgage rate possible. A great way to do this is to compare mortgage rates and to get the best...

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Top 6 Ways To Fix Your Credit To Buy A Home

Before the last housing bust, it was easy to secure a mortgage loan with bad credit. This has been blamed for much of what blew our economy to smithereens. To avoid the next financial disaster, banks are taking the time to thoroughly check your credit when you apply....

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Final Walk Through: What To Expect

Buying a home is an exciting and monumental time of your life. Especially for first time home buyers. It’s also a huge investment and responsibility. You want to make sure you’ve gone through every step carefully, twice. It’s crucial to ask the right questions and be...

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When Is It Time To Refinance Your Mortgage

You made some really big purchases throughout your life – like your first car, a college education, or that fancy jewelry you always wanted. But none will be so heart-rending, stable and financially steep as buying your first house, your first mortgage. And as a...

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Top 5 Things to Know About Getting a Mortgage

Mortgages: Common But Complicated A mortgage can be an important piece of our lives. There’s a lot of money involved, and often, a lot of dreams attached to it. As easy as defining a mortgage is, it’s still a complicated process. The following items will take you a...

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HARP Loan Program 2017 Guidelines

The Home Affordable Refinance program, (HARP) was initiated in March of 2009 by president Obama’s administration. The program was created to allow underwater borrowers to refinance their mortgages. Underwater homeowners are those whose mortgage balances exceed their...

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FHA Streamline Refinance Guidelines 2017

The FHA Streamline is a mortgage option available to people who have existing FHA loans. The purpose, as the name suggests, is to help homeowners service the existing FHA mortgage. It comes in handy as it has flexed restrictions and is an advantage to the FHA...

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VA Loan Benefits – 5 Things You Need To Know

VA loans are managed and controlled under the State Department of Veteran Affairs. Private lenders normally give these loans to anyone who fits the definition of a veteran and the Department of Veteran Affairs acts as a guarantor either partially or fully. In this...

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Pros and Cons of FHA Loans

FHA loans are loans by moneylenders to aspiring homeowners, who are mostly low-income earners, which are guaranteed by the FHA. Therefore, the loans are not given by the FHA, but only guaranteed. Anyway, the difference is almost the same and hence the reason they are...

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5 Reasons Now Is The Best Time To Buy a Home

The other day, a friend reached out to me and asked if I thought now was a good time to buy a home. I explained that now is the BEST time to buy a home. Matter of fact, the best time to buy a home is always NOW. When most people think about homeownership, they think...

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A Letter From a Young Loan Officer to a Young Home Buyer

Dear Young Home Buyer, A few weeks back, I posted a quick little video on Facebook promoting a home loan program for First Time Home Buyers. A number of people commented, and many of them went like this: “My husband and I would love to stop renting, but home ownership...

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How To Get A Better Mortgage Rate Quote

Are you one of those Americans that is tired of renting your home from a landlord who may or may not have your best interests at heart? Well, you are not alone in that way of thinking. Millions of Americans dream of owning their own home. It's no surprise that anyone...

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Get Pre-Approved for a Mortgage: How It Works

If you are reading this article chances are you're looking to get pre-approved for a mortgage loan. When you are purchasing a home, you need to go through a lot of steps before you can settle down into your new pad. There are a few different almost foreign terms that...

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Fannie Mae HomePath Mortgage: Getting Approved

Buying a home is a scary experience, especially when you are on a budget and trying to get as many of your must-haves as possible within that budget. Getting a home at a good price, at least one that you like and that you want to live in is not easy. Fannie Mae has...

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USDA Loans vs FHA Loans

  Mortgages are easier to obtain for some people than others. For some people, alternatives like USDA loans and FHA loans are the best way for them to achieve their goals of becoming a homeowner. Each of these options brings their own benefits and downsides,...

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HUD Good Neighbor Next Door Program

HUD Good Neighbor Next Door Program   When you buy a home through HUD you should familiarize yourself with their special home buying programs. The first one is known as the HUD Good Neighbor Next Door program. This program allows firefighters, emergency...

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Tips For First Time Home Buyers

  If you are about to buy your first house, make sure you know what you are doing and that you don’t get caught up in a rookie mistake. There are a lot of things to consider when buying a home, both financially and personally. It is not as simple as one may...

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Raise Your Credit Score Today With 5 Easy Steps

Your credit score can really hurt your chances of getting a home. It may not be the whole picture with regards to what your finances actually look like but it is something that lenders look at when reviewing you for a mortgage. Even if you pay all your bills on time...

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6 Tips For Getting A Mortgage With Student Loan Debt

So you're ready to buy a house; whether you are looking to settle down, have growing family, or you are simply tried of renting then it's time to develop a strategy. Buying a house is not always an easy road to take when you are burdened with student loans; however...

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Minimum FHA Credit Score Requirements Drops 60 Points

You probably already know the minimum FHA credit score to receive a home loan is technically 500. You probably don’t know that it is also possible to receive a mortgage loan without having a credit score. When you get a FHA loan, there’s no credit score required,...

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6 Questions to Ask Yourself Before Buying a Home

Buying A Home Soon?   Buying a home is a major decision. Whether you're a first time home buyer or you've owned dozens, you always have to ask yourself certain questions before moving forward. While you shop and compare mortgage rates, there are things that you...

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3 Secrets For VA Home Buyers

VA Home Buyers Capitalize On Little Known Secrets   The most common question new home buyers often ask which type of loan is going to best suit them. FHA (see Federal Housing Administration) loans can offer some of the lowest down payments, with other loans even...

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Can You Get A VA Loan With Part-Time Income?

During the last recession the U.S. economy lost over 7 million full-time jobs. Thankfully today, all of those jobs, and more, have been recovered. Part-time employment has also gone up, and many of these workers come from a military backgrounds. This means that they...

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Should I Refinance My Mortgage?

Did you know that you can actually refinance your mortgage at any time? It is your right as a homeowner with a mortgage to be able to “replace” your mortgage financing anytime you’d like to. So now you know that you can refinance your mortgage but now you might be...

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Home Improvements & Taxes. What You Need To Know

When we bought our first house, it was perfect. Well, except for the 40-year-old heater. And the green kitchen with beige appliances circa the 1970s. And the creepy basement. (But otherwise perfect.) Over the years, we made a number of improvements. We also made a number of repairs. We replaced the roof, added a powder… Continue reading

The post What You Need To Know About Home Improvements And Taxes appeared first on Trulia’s Blog.

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Flipping Houses: Not for the Faint of Heart

Flipping houses looks glamorous and easy on TV. Many people are enticed to get into the business, lured by the promise of easy money and high volume. But what is really involved in flipping houses profitably? We took a look.   What do you need to get started? You...

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Will The New Credit Scoring System Help You Get A Mortgage?

In December 2015, two members of the U.S. House of Representatives introduced a new bill. Known as H.R. 4211, or the Credit Score Competition Act, the bill is in its first stage of the legislative process. Although it’s a long way from becoming a law (and your eyes may have glazed over at all that… Continue reading

The post Will The New Credit Score System Help You Get A Mortgage? appeared first on Trulia’s Blog.

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Surprise! Credit Scores In 2016 Matter More Than Ever

If you entered into adulthood after 2008, you probably became accustomed to thinking your cash savings are more likely to grow when safely tucked under your mattress than in most bank accounts, and that interest rates on auto loans and other loans are set in the single digits. But in December 2015, after seven years of fostering… Continue reading

The post Surprise! Your Credit Score Matters More Than Ever In 2016 appeared first on Trulia’s Blog.

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8 Ways To Not Mess Up Your Mortgage Approval

   "Getting A Mortgage Is Easier Than You Think" THE GREAT MAJORITY OF MORTGAGE LOANS GET "APPROVED"   Current mortgage rates are cheap these days.   The recent drop in rates has contributed to a rise in U.S. home sales and has sparked a home refinance...

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2016 FHA Loan Limits Released

via Bankrate.com » Mortgages By Crissinda Ponder   Several counties throughout the U.S. will see their FHA loan limits increase next year.   The Federal Housing Administration released its maximum mortgage limits for 2016 on Wednesday. Limits are increasing...

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Feds Rate Hike Will Hit HELOC Soon

via Bankrate.com » Mortgages By Crissinda Ponder   Borrowers with home equity lines of credit likely aren't cheering now that the Federal Reserve has announced its first rate hike. Their interest rates -- and monthly payments -- will increase very soon. Wait,...

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Can Retail Banks Still Profit from Mortgage Lending?

Can Retail Banks Still Profit from Mortgage Lending? via National Mortgage News By Richard Parsons Kudos to John Kanas and BankUnited for throwing in the towel and ceasing to originate retail mortgages. The savvy decision recognizes the dilemma retail mortgage lending...

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Mortgage Rates Down to New 8-Month Lows

Mortgage Rates Down to New 8-Month Lows via Mortgage Rates Newsletter - Market Analysis   Mortgage rates only paused for a brief moment of reflection yesterday before continuing with 2016's trend of improvement.  Today's gains bring them easily back to new...

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Rents Kissed The Sky in 2015

Rents kissed the sky in 2015 via Bankrate.com » Mortgages By Crissinda Ponder Rental rates rose nearly 5% during 2015, according to new data released this month. MPF Research says 2015 was the 6th consecutive year of rent increases at or higher than the 2.7% norm....

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Mortgage Rates Drop Again For The 4th Straight Week

Mortgage Rates Drop Again MCLEAN, VA--(Marketwired - Jan 28, 2016) -  Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing a mortgage rates drop for the fourth consecutive week as the Fed held interest rates...

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Recent Mortgage News Roundup

Recent Mortgage News The latest mortgage news from around the country. Home Loans For All gives you the most recent mortgage news all in one centralized location.   View your complimentary credit scores today with free trial   [View the story "Recent...

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The Pros and Cons of Reverse Mortgages

Reverse Mortgages   A reverse mortgage, or lifetime mortgage as it is sometimes referred, is usually a loan offered to seniors. It is created for homeowners over 62 years old. It provides them with access to their home's equity in cash payments. This cash...

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VA Loan Interest Rates & Benefits

VA Loan Interest Rates are Lower than any other   As a veteran of the United States, you are liable to receive many benefits for different reasons, through different programs. If you are looking to buy a home for you and your family, you will be surprised at the...

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7 Mortgages with Low or No Money Down Payments

When the housing crisis hit in 2007 and 2008, it was a very bleak market for people looking to sell houses, and those looking to buy, were certainly not able to get the money they would need for the down payments. It was increasingly difficult to see the light at the...

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Credit Scores For Home Loans

Credit scores plays a very important role in getting a good home loan with favorable rates. There are official and unofficial guidelines for determining how credit scores will affect an applicant’s eligibility. Lenders use your FICO credit score to determine the...

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FHA Back To Work Program – Rules And Guidelines

The FHA, or Federal Housing Administration, has many programs designed to assist new and repeat home buyers to get an FHA insured loan. One of the newer programs is call the FHA Back to Work program, which is designed to help home buyers who have experienced a bad...

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How To Get Credit Scores For The Best Mortgage Rates

  When you are seeking the best possible rate for your mortgage, your credit score takes on an added level of importance. Your credit score and your credit report are the two main tools that are used to decide your mortgage rate and failure to remain up to date...

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What You Should Look For In A Realtor

What you should look for in a Realtor. The title certainly raises some eyebrows. Purchasing a home isn’t like buying a couch, or even buying a car. It is probably the largest purchase you will make in your lifetime. Buying real estate is a complex process with many...

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Will You Be The Last U.S. Homeowner To Refinance?

Source: Will You Be The Last U.S. Homeowner To Refinance?   Above is a great article from The Mortgage Reports. Whether you have an FHA loan, VA loan or a Conventional loan, there are many refinance options available to you. To see if you qualify you can fill out...

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U.S Homeowners: Tax Benefits and Deductions For You!

Owning your own home is truly awesome and it's very beneficial too. I say this for one good reason and that reason is the tax benefits. Paying your taxes may seem like a real pain but for anyone who owns a home, paying your taxes is less painful because it can save...

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How To Get A Mortgage: The Documents You Need

How To Get A Mortgage   Buying a home or refinancing your existing home really is an amazing thing; it’s the place that you own, the place where you live, you can call it yours. Whether you’re a first time home buyer looking to get a small house, a couple looking...

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Important Info On Getting A VA Loan

Veterans Affairs mortgages, known as VA loans have increased recently because banks have tightened lending criteria. VA loans remain one of the few mortgage options for borrowers who can’t save up down payments. Getting a VA loan is somewhat easier to qualify for than...

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Mortgage Applications Increase Steeply

Mortgage applications increased sharply from the previous week, ending June 5, 2015. According to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey, applications were up almost eight and a half percent from the prior week. The results...

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No Money Down Home Loans. Flip Like A Pro

Mortgage Rates At All-Time Lows 2015 is another great year for housing in America. Home sales are on the rise, home supply is diminishing, and prices are skyrocketing in most places. To top it all off, mortgage rates are dropping like stones. What’s a person to do in...

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Different Types of Mortgage Refinance Loans

Technically, you can take any type of loan and utilize your loan to continue to settle your home loan. Seen in this manner, any kind of loan can be a home mortgage refinance loan. Nevertheless, some have limitations (i.e. some loans do not provide a huge sufficient...

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FHA Streamline Refinance

  The FHA streamline refinance program helps current FHA homeowners lower their rate and payment without most of the traditional refinance documentation. FHA recently lowered its mortgage insurance premiums by 0.50%. Most borrowers can now drop their interest...

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The Top States To Raise Your Kids In

Being a mother can be both wonderful and challenging. One of the biggest challenges for mothers in America is doing what’s best for their children and family. For all the moms out there, we wanted to highlight the easiest places where your children can get ahead in...

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Tips on Upgrading Your Kitchen

When it comes to doing your dream kitchen, there are trends that are popular now, but also have staying power because they address lifestyle needs, convenience, and savings. Using these simple guidelines on upgrading your kitchen will ensure that you enjoy it for many...

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The HARP Program: A Smart Way To Pay Off Your Mortgage

There is currently a little-known government program called the Home Affordable Refinance Plan (HARP program) that could benefit millions of Americans and reduce their monthly payments by as much as $4,264 each year. Of course, the banks aren’t too thrilled about...

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Why Your Home Isn’t Selling

Why your home isn't selling. Pay close attention to this article. The housing market is off to a slow start this year. Initial data found that homes nationwide spent an average 102 days on the market. It's in the sellers' best interest to keep that figure low. Experts...

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USDA Home Loan Requirements

Do you know what a USDA loan is?  Do you know about the USDA home loan requirements?  Chances are that you will have a rough idea of what it is but you will not know exactly what a USDA loan is.  There are many different types of loans out there and it can get...

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The Bad Credit Real Estate Entrepreneur

This article was written by the original REI Coach himself, Brian Gibbons. Now, I typically do not post anything on my blog other than articles I've written myself but this one was so insightful and full of great information I just couldn't resist. I want to say a big...

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The Down Under Comes to Dallas

MainVue Homes   Reportedly, I.M. Pei never met his hero Frank Lloyd Wright. The young Asian architect waited patiently for his older, wiser contemporary for two hours before giving up. Perhaps that is how the home shoppers feel after being turned away in droves...

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VA Mortgage Loans Offer Lower Rates

  VA Mortgage Loans Are Booming!   Conventional mortgage rates continue to drop. Astoundingly, VA mortgage rates stay nearly half a percent ahead of the pack in the march downward.  Today's VA mortgage rates are the lowest of all available rates. All rates...

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3 Percent Down Payment

3% Down Mortgage   Fannie Mae and Freddie Mac announced recently that they will start backing mortgages with only a 3 percent down payment of the home's price, in an effort to open up lending to more low-income and first-time home buyers.   Borrowers must...

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203K Loan. How To Make An Old Home New Again

  Flipping and refurbishing houses has become all the rage over the past decade. Almost everyone has become an expert on mortgages, refinancing, and remodeling. Just scout out an old house in a promising neighborhood, estimate what it will cost to fix it up...

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Good Credit: A Friend for Life

Good credit is often confused with easy credit, and vice versa. It depends on your definition of “easy.”  When you first start out, your credit should be excellent. When you turn 18, credit card companies start sending you offers. They want you as a customer as soon...

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Self Employed Home Loan. A How-To Guide

  The housing and financial crisis that we're slowly recovering from affected everyone. Even self-employed and business owners are experiencing the difficulty that almost everyone is dealing with right now. They too are also having a hard time getting a self...

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