Mortgages

Our Credit.com experts are here to help you better understand mortgages so that you can make smarter home loan decisions. Find out what you should consider when shopping for a home loan, plus ways to get the best rates & deals. Learn how to approach re-financing, foreclosures and short sales. Understand how mortgage decisions can affect your credit score.

3 Ways to Pay Off Your Mortgage Early

3 Ways to Pay Off Your Mortgage Early

3 Ways to Pay Off Your Mortgage Early

Buying a house is a costly financial commitment with longstanding effects on your finances. Deciding how much mortgage you can afford and how you want to structure your payment schedule can make a big difference in your future. Depending on your arrangement, you could be making payments on your property for 10, 20 or even… Read More

4 Tips for Furnishing an Empty Home on a Budget

4 Tips for Furnishing an Empty Home on a Budget

4 Tips for Furnishing an Empty Home on a Budget

Choosing a new home can be very exciting. There are lots of things to do when getting ready to move into a new property. If you are moving out on your own for the first time or upgrading to a larger place, you might find yourself moving into a mostly empty home. While this means… Read More

800,000 Homeowners Are Missing Out on Lower Mortgage Payments

800,000 Homeowners Are Missing Out on Lower Mortgage Payments

800,000 Homeowners Are Missing Out on Lower Mortgage Payments

The 30-year fixed-rate mortgage hit a 2014 low last week at 4.1%, according to Freddie Mac’s weekly Primary Mortgage Market Survey, reinforcing the idea that now is a good time for homeowners to consider refinancing their home loans. Many homeowners had the opportunity to refinance during the Great Recession through the Home Affordable Refinance Program… Read More

Should a Retiree Ever Take Out a Mortgage?

Should a Retiree Ever Take Out a Mortgage?

Should a Retiree Ever Take Out a Mortgage?

Conventional wisdom says to time your mortgage to be paid off before you enter retirement, so you own your home free and clear. Maybe you’ve done that, but now you’re moving or buying a second home. Does that rule still apply, or with interest rates still so low, should you look at financing? Or perhaps… Read More

How First-Time Homebuyers Can Save Big on Their Mortgage

How First-Time Homebuyers Can Save Big on Their Mortgage

How First-Time Homebuyers Can Save Big on Their Mortgage

With their low down payments and credit requirements, FHA mortgages experienced a surge in popularity as other lending dried up in the wake of the housing market crash. More recently, however, they’ve lost some of that luster as a series of fee increases have made them a less attractive option than they were a few… Read More

Strangers Moved Into Man’s New House, Changed the Locks

Strangers Moved Into Man’s New House, Changed the Locks

Strangers Moved Into Man’s New House, Changed the Locks

Closing on a home is supposed to be the happy, celebratory, “I did it!” moment of the often-stressful process of buying a house. Unfortunately for a new homeowner in Portland, Ore., that’s when the problems really started. Rod Nylund bought a house in the city and hired a contractor to do some work at the… Read More

Millennials Are Better at Paying Their Mortgage Than You

Millennials Are Better at Paying Their Mortgage Than You

Millennials Are Better at Paying Their Mortgage Than You

Mortgage borrowers younger than 30 years old have the lowest rate of delinquency on their home loans than any other age group, a new report from TransUnion shows, with only 2.34% of mortgages 60 or more days past due. Overall, the mortgage delinquency rate declined about 20% in the last year, from 4.32% in the… Read More

Can You Crowdfund Your Mortgage?

Can You Crowdfund Your Mortgage?

Can You Crowdfund Your Mortgage?

By now, you’ve probably heard of the guy who crowdfunded a $10 potato salad “campaign” and ended up raising more than $55,000 (if not, now you know — crazy, right?). That got us at Credit.com thinking: What other sorts of things can you crowdfund? The short answer: Pretty much anything (see: potato salad guy). Earlier… Read More

The Most Expensive Mortgage Mistakes You Can Make

The Most Expensive Mortgage Mistakes You Can Make

The Most Expensive Mortgage Mistakes You Can Make

We all make financial missteps, whether it’s an impulse purchase in the checkout aisle or something less defensible, like an extended warranty or rental car insurance. But bigger purchases – like, say a home – can really magnify mistakes. Missteps when it comes to securing a mortgage often prove especially damaging, given the size and… Read More

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