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.

Cities to Consider When Renting and Buying

Cities to Consider When Renting and Buying

Cities to Consider When Renting and Buying

January is a natural time to take stock of your financial life, and to dream big dreams about 2018. Could this be the year you make the leap to homeownership? Or, will you make a big change and trade in your mortgage payment for a landlord? In the complex calculus that’s required for the renting... Read More

6 Home-Buying Tips for the Current Market

6 Home-Buying Tips for the Current Market

6 Home-Buying Tips for the Current Market

In September 2017, sales of new homes in the United States shot up to the highest level in nearly a decade. The Commerce Department reported an 18.9% increase for the month, during which about 667,000 newly built homes were sold—a figure not seen since October 2007. September’s increase also represented the biggest month-over-month percentage gain... Read More

10 Tips to Secure the Best Interest Rate on your Mortgage

10 Tips to Secure the Best Interest Rate on your Mortgage

10 Tips to Secure the Best Interest Rate on your Mortgage

The process of buying a home is a very involved one, and can be daunting, especially for first-time buyers. It’s often a whirlwind of paperwork, credit reports, and scrambling to tie up loose ends. One of the biggest factors that goes into calculating your monthly mortgage payment (other than the size of the loan itself)... Read More

A 15-Year Mortgage Can Save You $190K … But Can You Get One?

A 15-Year Mortgage Can Save You $190K … But Can You Get One?

A 15-Year Mortgage Can Save You $190K … But Can You Get One?

You may wonder, Is a 15-year fixed mortgage worth it? Our answer: absolutely. It’s one of the best ways to eliminate your mortgage debt, and you can save thousands on interest payments. For instance, consider the staggering difference between a 30-year mortgage and 15-year mortgage, both for $400,000. At an average of 4% interest on... Read More

How to Determine Your House Payment: The Quick Formula

How to Determine Your House Payment: The Quick Formula

How to Determine Your House Payment: The Quick Formula

When you’re shopping for a house and considering a mortgage loan, establishing what you can afford for house payments can be a lengthy process. You have to run calculations, get updated payment scenarios from your mortgage company, and determine whether or not you can qualify. With all these moving parts, we hope it comes as... Read More

Should You Get an FHA Loan or a Conventional Mortgage?

Should You Get an FHA Loan or a Conventional Mortgage?

Should You Get an FHA Loan or a Conventional Mortgage?

Federal Housing Administration (FHA) loans and conventional loans remain the most popular financing types for today’s mortgage borrowers. But which program makes the most financial sense for you? FHA Loans vs. Conventional Loans The key to deciding which loan you should get is understanding the characteristics of both programs and how they relate to your... Read More

4 Reasons to Buy Your First Home in Your 30s

4 Reasons to Buy Your First Home in Your 30s

4 Reasons to Buy Your First Home in Your 30s

There was a time in my life when I thought I’d never own a home. As someone who had preferred life in big cities and prioritized travel above homeownership, the idea of settling somewhere permanently never really appealed to me. Then I got married, then I got pregnant, and suddenly the idea of living in... Read More

Recently Filed for Bankruptcy? Here Are 5 Steps to Buying a Home

Recently Filed for Bankruptcy? Here Are 5 Steps to Buying a Home

Recently Filed for Bankruptcy? Here Are 5 Steps to Buying a Home

If you’re one of the millions of Americans who have declared bankruptcy, home ownership can seem like a pipe dream. But don’t give up—it is possible to own a home after bankruptcy. In fact, according to a study by the Federal Reserve Bank of New York, consumers who were struggling financially recovered more quickly when... Read More

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

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