Articles about Mortgages

With mortgage rates at near-historic lows and the economy showing signs, albeit small ones, of a recovery, both fixed and adjustable rates will eventually increase.
Fannie Mae, Freddie Mac and the Federal Housing Administration have programs that allow borrowers with little or no equity in their homes to refinance existing mortgages. It is best to contact [...]

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First-time homebuyers who’d expected the $8,000 tax credit to expire last November 30 should be aware that it has been extended to mid-2010.
The catch is that the borrower must close on the home before April 30, 2010. If you are unable to close on the property by that date, you must have a fully executable [...]

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With all the changes that have been going on with home financing over the last few years, none needs more attention by homeowners and would-be homeowners at this point in time than the subject of credit.
Historically, income, assets and credit were the determining factors in whether a potential borrower was approved for a mortgage. In [...]

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Finding a mortgage these days, despite all the negative economic news we are hearing in the media, is easier than it has ever been.
Before you take the leap, though, there are a few things you should think about.
The first question that you might want to ask yourself is how long you intend to occupy the [...]

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Many properties in the current market - especially distressed ones or those that have been vacant for an extended period of time - can be good buys.
But they can also come with challenges.
The challenges could be significant damage from water or mold, or missing essentials like furnaces, hot water heaters or, in some cases, copper [...]

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Mortgage rates are relatively low at the moment, but there’s little doubt they’ll begin creeping up. It’s important, then, to have some knowledge of how mortgage rates are determined and what the picture might look like in the future.
Fixed Interest Rates
Fixed interest mortgage rates are tied to the 10-year U.S. Treasury note and are indirectly [...]

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There are many differences between conventional and Federal Housing Administration (FHA) mortgage loan programs.
When considering the purchase of a home, it’s important that you compare the two.
If you’re looking to purchase a home using FHA, you must put down a minimum of 3.5% and you need a credit score of 620 or higher.
Regardless of the [...]

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With all of opportunities in the current market to purchase undervalued properties, people looking to get into the world of property investing might want to explore their options. But there are a few things to keep in mind.
Investors looking to finance an investment property must put down 25% to 30% of the purchase price and [...]

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If you’re looking to buy a foreclosure property, the following information will help you navigate the waters.
A foreclosure is any property that is in the process of being taken back by the lender. A short sale is when a borrower is selling a property for less than is owed on it.
A real estate-owned (REO) property [...]

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New laws have been introduced in an attempt to avoid surprises for borrowers at the closing table in both purchase and refinance transactions
The laws require initial disclosure of fees, and re-disclosure in the event of fee or rate changes.
Traditionally, when a borrower has made application to a lender, the lender, by law, was and is [...]

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