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.

Why 5% Mortgage Rates Are Still a Ways Off

Why 5% Mortgage Rates Are Still a Ways Off

Why 5% Mortgage Rates Are Still a Ways Off

Whether you like it or not, mortgage interest rates are a big driver of the housing market. We’ve been spoiled with ultra-low rates the past few years, with many experts predicting that 2014 would be the year of 5% rates. They were wrong. Furthermore, we’re not going to be seeing 5% mortgage rates anytime soon… Read More

Can You Still Get a Better Mortgage Deal With HARP?

Can You Still Get a Better Mortgage Deal With HARP?

Can You Still Get a Better Mortgage Deal With HARP?

With the housing crisis seemingly behind us, many homeowners are bouncing back and the government programs put in place to help those homeowners are falling out of the national mindset. But can you still use these programs if your home is still in trouble? If you owe more on your mortgage than your house is… Read More

Am I Too Old to Refinance My Mortgage?

Am I Too Old to Refinance My Mortgage?

Am I Too Old to Refinance My Mortgage?

As home interest rates continue to stay low, it’s tempting to think about whether a refinance makes sense. One of our readers asked whether low rates should be a consideration for older homeowners who have mortgages they don’t expect to fully repay in their lifetimes. Here’s part of the question he posed: At what age… Read More

The States Where Foreclosure Rates Rose in 2014

The States Where Foreclosure Rates Rose in 2014

The States Where Foreclosure Rates Rose in 2014

One in every 118 U.S. homes was in some state of foreclosure during 2014, bringing the national foreclosure rate below 1% for the first time since 2006. The year-end report from RealtyTrac puts the foreclosure rate at 0.85% for 2014, a 17.94% decline from 2013. Only 11 states plus the District of Columbia reported increases in… Read More

Why Short Sales Are Still Some of the Best Deals Around

Why Short Sales Are Still Some of the Best Deals Around

Why Short Sales Are Still Some of the Best Deals Around

Talk to anyone who has dabbled in real estate in recent years and they will almost certainly have an opinion on short sales. Though it’s not as common anymore, homeowners short-selling their homes present an opportunity for you to get your foot in the door. Here’s what you need to know if you want to… Read More

Nearly Half of Homebuyers Don’t Shop for a Mortgage

Nearly Half of Homebuyers Don’t Shop for a Mortgage

Nearly Half of Homebuyers Don’t Shop for a Mortgage

About half of consumers who took out a mortgage to buy a home in 2013 didn’t shop around for their loans, and even fewer consumers apply for a mortgage through more than one lender, the Consumer Financial Protection Bureau announced in a report released Tuesday. That means these homebuyers aren’t comparing lenders’ offers in search of… Read More

Should You Buy a Townhome?

Should You Buy a Townhome?

Should You Buy a Townhome?

Single-family home? Apartment rental? Co-op? Condo? When you are considering which type of home is best for you, it is easy to get overwhelmed. New homeowners may find that townhomes offer a middle ground between expensive single-family homes and less-private condominium units. Before you make the decision to buy a townhouse, check out the advantages… Read More

The FHA Just Cut a Major Expense for New Homebuyers

The FHA Just Cut a Major Expense for New Homebuyers

The FHA Just Cut a Major Expense for New Homebuyers

The government announced Thursday that first-time homebuyers taking out low-down-payment mortgages insured by the Federal Housing Administration would not have to pay as much in private mortgage insurance. This change is expected to save more than 2 million FHA homeowners about $900 a year and allow about 250,000 consumers to buy their first homes in the… Read More

Mortgage Rates Hit 19-Month Low

Mortgage Rates Hit 19-Month Low

Mortgage Rates Hit 19-Month Low

The 30-year fixed-rate mortgage hit a 19-month low this week at 3.58%, according to the Zillow Mortgage Rate Ticker. That’s down from 3.72% the week prior and 4.35% on Jan. 6, 2014. Most potential homebuyers get excited about news like this. They should: The lower the interest rate your mortgage carries, the more manageable your monthly… Read More

3 Reasons It’s Not a Seller’s Housing Market

3 Reasons It’s Not a Seller’s Housing Market

3 Reasons It’s Not a Seller’s Housing Market

If you’re considering purchasing a home, but worried that rising home prices mean you’ll pay too much for a house, think again. Just because home prices have risen doesn’t mean it’s a seller’s market out there. Here’s why. 1. Home Prices Aren’t Necessarily Inflated Home prices have gone up, but have they done so unreasonably?… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to Our Experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.