Mortgage Trend

If you’re shopping for a mortgage, you have probably heard the term loan estimate. This article takes a look at loan estimates, what they are, and how to use them to negotiate better terms on your mortgage. Get Pre-Approved & Check Today’s Rates What is a Loan Estimate? A loan …

Gone are the days when you needed a 20% down payment to get a mortgage loan. There are mortgage programs today that offer down payments as low as 3%. But, how much should you put down on a house? This article explores the down payment requirements for each type of …

Current Mortgage Rates (Novermber 2020) Interest rate 30-year fixed-rate mortgage 15-year fixed-rate mortgage 5/1 adjustable-rate mortgage What is a Short Sale? A short sale is when a homeowner is behind on their mortgage payments, sells the home for less than the amount they owe. To be a short sale both …

Your payment history is the biggest factor in determining your credit score making up 35% of your overall credit score. Only your credit utilization ratio (makes up 30% of your score) comes close to having as profound an effect on your score as your payment history does, This article explains …

Times are tough and some people are falling behind on their mortgage payments and could be facing foreclosure in the near future. If you’re facing financial hardship and are looking into how you can avoid foreclosure this article examines programs that will stop the foreclosure process and reduce your monthly …

If you’re at least 62 years old and your home is paid off, or you have a lot of equity in your home, you may be able to use your convert your equity into a stream of monthly income or a line of credit. This article takes an in-depth look …

Do you expect your income to increase in the next few years? Section 245(a) Loans (Graduated Payment Mortgage Program) helps borrowers whose income is expected to rise, buy a home sooner by making mortgage payments that start off small and increase over time. This article will take an in-depth look …

Mortgage interest rates remain well below 3%, with Freddie Mac’s latest 30-year fixed-rate mortgage average coming in at 2.84%. While that’s an increase from a week ago, it’s still far below the 3.75% we saw last year at this time. Freddie Mac’s Chief Economist Sam Khater notes that rates increased …

When you’re exploring the opportunities that come with a VA loan, you may come across some terms you won’t typically hear when looking into other types of mortgages and home financing.   This blog post will explore the different VA loan entitlement benefit levels and how they’re applied to give veterans …