So, you got a mortgage rate that sounds too good to be true but now you can’t close Mortgage rates are presently near their historic lows on 30-year fixed rate mortgage with the average 30-year fixed being between 3.375% and 4.125%. As such people are refinancing in droves taking advantage of the dip in rates.…
Here’s how much more expensive your mortgage will be due to bad credit If you’re thinking about getting mortgage loan financing one of the most important things you can do to keep your mortgage costs low and affordable is to maintain a high and healthy credit score. Here’s what you should know when it comes…
Every consumer wants to get a fair and reasonable deal on the cost of borrowing funds refinance your home or purchase a home. However, what many people get fooled into is believing that whatever they’re seeing on the internet or receiving in their mailbox is is the best choice for them. Here is what you…
If you served in the military a VA mortgage if you can qualify supports, the maximal amount of borrowing power with the lowest possible payment. Here are some things to consider when looking at a VA mortgage… The US Department of Veterans Affairs guarantees loans up to 100% loan to value for purchase rate and…
Refinancing or purchasing a house requires an apple supply of cash, credit and income. Here’s what you need to know with regards to getting a mortgage loan with roommate income. Generally, to get a mortgage you cannot use roommate income to qualify. In the lending world this type of income is called border income. Most…
The two most common loans available in the marketplace are Conventional loans and FHA Loans. FHA Loans are insured by the Federal Housing Administration and Conventional mortgages are backed by Fannie Mae and Freddie Mac. When you use an FHA loan to purchase or refinance a house there is an upfront mortgage insurance premium calculated…
Buying a house can always be a daunting consuming feat. Caring consumer obligations such as car loans can further complicate a picture of that otherwise could be more financially lucrative. When you carry on a car debt whether it’s at lease payment or whether it’s a financed payment you’re handcuffing a portion of your future…
The Federal Housing Finance Agency on November 28th raised the conforming and high balance loan limits for a Fannie Mae and Freddie Mac loans. Here’s what these changes will mean… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac reviews and evaluates changes on whether to keep the loan amounts…