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.

When Renting Out Your Home Can Help You Buy a New One

When Renting Out Your Home Can Help You Buy a New One

When Renting Out Your Home Can Help You Buy a New One

One of the biggest obstacles homebuyers will face is being able to show enough income to offset their debts — in addition to a proposed housing payment. If you don’t show enough income to offset your debts according to the bank’s requirements, you may have trouble getting the loan. With that in mind, there is… Read More

4 Signs You Should Keep Renting

4 Signs You Should Keep Renting

4 Signs You Should Keep Renting

One question I heard frequently throughout my 20s was, “When are you going to buy a house?” Some believed I was already missing out on the benefits of homeownership while others thought with my career constantly taking me to new cities, I was better off renting forever. Many people grapple with the decision of whether… Read More

Americans Are Starting to Miss More Mortgage Payments

Americans Are Starting to Miss More Mortgage Payments

Americans Are Starting to Miss More Mortgage Payments

For several quarters, lenders have been reporting low and falling delinquency rates for credit card, mortgage and auto loan borrowers, and that positive trend has opened up credit products to consumers with lower credit scores. That may be starting to shift. A greater share of mortgages were 30 to 59 days past due in the… Read More

What a $200,000 Mortgage Will Cost You

What a $200,000 Mortgage Will Cost You

What a $200,000 Mortgage Will Cost You

Mortgages aren’t one-size-fits-all products. Loan types and lenders all have different requirements, benefits and drawbacks. Some require sterling credit and sizable down payments. Others have looser standards but limit where you can purchase, or come with higher fees. Heck, one loan program is open to only about 1% of the population – the veterans and… Read More

Combustible Adjustables: The Troubling Return of the ARM

Combustible Adjustables: The Troubling Return of the ARM

Combustible Adjustables: The Troubling Return of the ARM

It was only a matter of time. Adjustable rate mortgages—the apocalyptical financial product of the recent economic collapse—are coming back in a big way. Of course, the banks insist that this time it’ll be different. At the moment, they’re targeting only high-net worth borrowers. According to a study that was developed for the Wall Street… Read More

What a Mortgage Calculator Won’t Tell You

What a Mortgage Calculator Won’t Tell You

What a Mortgage Calculator Won’t Tell You

If you’re thinking about buying a home, you’ve probably used — or at least heard of — a mortgage calculator. These nifty tools can help you figure out the price range of homes you may be able to afford and estimate your monthly mortgage payment. With an event as big as buying a home, it’s… Read More

20 Signs You’re Buying a Home in a Great Neighborhood

20 Signs You’re Buying a Home in a Great Neighborhood

20 Signs You’re Buying a Home in a Great Neighborhood

A great neighborhood sells a home, real estate agents say. It also helps your home hold value and makes it easy to sell when you decide to move on. With all the pressure and excitement of home shopping, how can you know if a neighborhood is truly great? 1. It Meets Your Specs Make a… Read More

Refinancing? Why Your Bank May Not Be the Best Deal

Refinancing? Why Your Bank May Not Be the Best Deal

Refinancing? Why Your Bank May Not Be the Best Deal

Planning to refinance your house? Figure you’ll make it easy by opting to refinance through your current mortgage holder? If yes, beware of offers too good to be true. Here’s what you need to know about your mortgage holder’s offer. Those who have refinanced or bought a home since 2008 know all too well what… Read More

No Bubble Here: Rising Home Prices Expected to Level Off

No Bubble Here: Rising Home Prices Expected to Level Off

No Bubble Here: Rising Home Prices Expected to Level Off

Home prices increased 12.2% from February 2013 to February 2014, marking the 24th consecutive month of year-over-year growth, according to the most recent CoreLogic Home Price Index Report. That trend is expected to continue, with a 10.5% year-over-year increase projected for March. There was also a slight month-to-month increase of 0.8% from January to February…. Read More

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