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.

25 Metro Areas with the Hottest Housing Markets

25 Metro Areas with the Hottest Housing Markets

25 Metro Areas with the Hottest Housing Markets

They say a good place is hard to find, but if you’re looking to live in one of these 25 metropolitan areas, that may feel like an understatement. Using data from ATTOM Solutions, we checked which metro areas have the lowest vacancy rates—that is to say, the fewest available residential properties—and ranked them. To make... Read More

Renting Is Overtaking the Housing Market—Here’s Why

Renting Is Overtaking the Housing Market—Here’s Why

Renting Is Overtaking the Housing Market—Here’s Why

Single-family rentals—either detached homes or townhomes—are developing faster than any other portion of the housing market. These rentals outpace both single-family home purchases and apartment-style living, according to the Urban Institute. “Almost all the housing demand in recent years has been filled by rental units,” says Sara Strochak, a research assistant with the Urban Institute.... Read More

How to Get a Mortgage With Bad Credit

How to Get a Mortgage With Bad Credit

How to Get a Mortgage With Bad Credit

While a 20% down payment and a great credit history are commonly recommended for buying a home, there are still ways you can be approved for a mortgage without them. The secret is finding your personal strengths as a potential homebuyer and overcoming your weaknesses. Good and Bad Credit for a Home Loan Getting a... Read More

How Long Does It Take to Get Approved for a Mortgage?

How Long Does It Take to Get Approved for a Mortgage?

How Long Does It Take to Get Approved for a Mortgage?

Unless you have a few hundred thousand dollars in cash handy, getting approved for a mortgage is a critical part of purchasing your new home. The mortgage approval process can take anywhere from 30 days to several months, depending on the status of the market and your personal circumstances. Read on to learn what to... Read More

Why Do I Have to Pay My Real Estate Agent 6%?

Why Do I Have to Pay My Real Estate Agent 6%?

Why Do I Have to Pay My Real Estate Agent 6%?

When it’s time to sell your house, you may have visions of dollar signs dancing in your head, but the truth is, a lot of those dollars will never make it into your bank account. Instead, they end up in the pockets of real estate agents. You’ve probably heard that agents, on average, take a... Read More

Why You Should Still Talk to a Lender Even if You’re Not Ready to Buy a Home

Why You Should Still Talk to a Lender Even if You’re Not Ready to Buy a Home

Why You Should Still Talk to a Lender Even if You’re Not Ready to Buy a Home

If you’re a first-time homebuyer, you might think you’re not ready to purchase a house. Perhaps you’re concerned about your job situation, your previous credit history, or your high monthly expenses. Whatever the circumstances, every borrower and financial situation is unique. Unless you’re a financial expert, it’s best not to self-diagnose your financial problems. You... Read More

What You Need to Know about Home Equity Loans

What You Need to Know about Home Equity Loans

What You Need to Know about Home Equity Loans

A home equity loan is a method for borrowing money for big-ticket items, and understanding the facts about these tricky loans is crucial to helping you make the right decision for your finances. If you’re considering taking out a home equity loan, here are 13 things you need to know first. 1. What Is a... Read More

The Millennial Mortgage Problem: Down Payments and Expensive Cities

The Millennial Mortgage Problem: Down Payments and Expensive Cities

The Millennial Mortgage Problem: Down Payments and Expensive Cities

If you’re a millennial who’d like to buy a house before Beyoncé’s twins graduate from high school, then listen up. The folks at Apartment List recently crunched the numbers surrounding our chances at homeownership, and they’re pretty stark. At the rate we’re going, Rumi and Sir are going to be in Freshman Comp before we... Read More

Where Are Millennials Moving? The Answer May Surprise You

Where Are Millennials Moving? The Answer May Surprise You

Where Are Millennials Moving? The Answer May Surprise You

It’s no secret that young people are getting married and starting families later in life than their parents did. It is, however, a bit of a secret where they are choosing to settle down. Big cities and their big employers have always attracted young workers, and that’s still true. But a combination of factors—sky-high home... Read More

20 Metro Areas with the Most Flipped Homes

20 Metro Areas with the Most Flipped Homes

20 Metro Areas with the Most Flipped Homes

The art of house-flipping is on the rise thanks to the popularity of reality TV shows like HGTV’s Flip or Flop. If you’re handy with a toolbelt and don’t mind weeks of manual labor, you might be thinking, I can do that. Before you blow your life savings on buying that fixer-upper, though, it might... Read More

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