4 Things That Won’t Affect Your Mortgage

Mortgages

4 Things That Won’t Affect Your Mortgage

4 Things That Won’t Affect Your Mortgage

When you’re hoping to lock down a home loan, the focus is on making sure you look like a safe bet for prospective lenders. Conversation tends to drift to the key pieces of the pre-approval puzzle, from credit score and stable income to acceptable debt levels and suitable assets. No one’s arguing the wisdom there…. Read More

4 Ways to Help Your Kid Buy a Home

Mortgages

4 Ways to Help Your Kid Buy a Home

4 Ways to Help Your Kid Buy a Home

Younger, first-time homebuyers are an increasingly rare sight in the current housing market. The homeownership rate for the 35-and-under crowd fell to a 22-year low in the second quarter, according to the Census Bureau. A bounce might loom on the horizon as lenders start to loosen credit and underwriting requirements. Even with a broad thaw,… Read More

Can You Still Get a Good Deal on a Home?

Mortgages

Can You Still Get a Good Deal on a Home?

Can You Still Get a Good Deal on a Home?

The seesawing housing market continues to defy economists and expectations. Pending home sales dipped in June after a string of strong months, catching many by surprise. Mortgage rates are sinking back down near historic lows. Home prices are on the rise, but inventory is still tight in some communities. In short, it’s a tough time… Read More

A New Challenge for First-Time Homebuyers?

Mortgages

A New Challenge for First-Time Homebuyers?

A New Challenge for First-Time Homebuyers?

The nation’s second-largest mortgage lender recently raised eyebrows after suggesting it might stop making FHA loans. JPMorgan Chase has already scaled back lending to lower-credit borrowers, citing the increased costs of foreclosure and regulatory action. But the firm’s chief executive went a step further in a conference call last week, noting Chase is “struggling” with… Read More

What Happens If I Stop Paying My Mortgage?

Mortgages

What Happens If I Stop Paying My Mortgage?

What Happens If I Stop Paying My Mortgage?

Homeowners who stop paying their mortgage do so for a host of reasons. Lives and financial circumstances change. Job loss or relocation might put consumers in a bind. Housing values can plummet, leaving homeowners owing far more than the property is worth. About 6% of all mortgage loans were at least one payment behind at… Read More

70 Years Ago, the American Dream Became Real for Veterans

Mortgages

70 Years Ago, the American Dream Became Real for Veterans

70 Years Ago, the American Dream Became Real for Veterans

Air Force Tech Sgt. Rhonda Stockstill settled into her new home in February, nine months after the massive tornado that ravaged much of Moore, Okla., leveled her old one. Family members and pets clustered under the stairs as the storm swept through that spring afternoon. A surgical technician, Sgt. Stockstill raced from the shattered remains… Read More

5 Tips to Win a Bidding War for Your New Home

Mortgages

5 Tips to Win a Bidding War for Your New Home

5 Tips to Win a Bidding War for Your New Home

Housing inventory hit a nearly two-year high last month, with 2.28 million unsold homes on the market nationwide. That’s an encouraging sign during a historic dry spell. But macro trends are cold comfort for potential homebuyers on the ground. There are still plenty of communities where low inventory and rising prices mean bidding wars are… Read More

How Long Does it Take to Buy a Home?

Mortgages

How Long Does it Take to Buy a Home?

How Long Does it Take to Buy a Home?

Consumers considering a home purchase often want to get a handle on how long the process takes. The problem is that it’s a surprisingly subjective and multilayered question. Answers tend to focus on the typical time it takes to close a home loan once you’re under contract, which is usually 30 to 45 days. That’s… Read More

4 Things Homebuyers Should Never Say

Mortgages

4 Things Homebuyers Should Never Say

4 Things Homebuyers Should Never Say

You don’t need to be a world-class negotiator to nab a great deal on your dream home. More often, it’s a matter of knowing what not to say. One errant comment or paperwork misstep can compromise your negotiating position. Playing it close to the vest around home sellers and listing agents is critical. So is… Read More

4 Credit Mistakes New Homeowners Make

Credit Score

4 Credit Mistakes New Homeowners Make

4 Credit Mistakes New Homeowners Make

Homebuyers often spend considerable effort padding and polishing their credit in the lead-up to the big purchase. Locking down a home loan today is no small feat, even as credit requirements continue to thaw. But the relief that comes with finalizing a home purchase can also spur a false sense of security. It’s easy for… Read More

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