It’s Going to Be Easier to Get a 3% Down Mortgage

Mortgages

It’s Going to Be Easier to Get a 3% Down Mortgage

It’s Going to Be Easier to Get a 3% Down Mortgage

HomeReady, the mortgage option that allows borrowers to qualify with income from non-borrower household members, is getting an upgrade. That’s according to government-sponsored mortgage titan Fannie Mae, who announced the following features in a release on Tuesday, the day the changes went into effect. Among them, occupant borrowers on a HomeReady loan can own other residential properties,... Read More

Can I Pay My Mortgage With a Credit Card?

Mortgages

Can I Pay My Mortgage With a Credit Card?

Can I Pay My Mortgage With a Credit Card?

If you’ve ever wondered if you could take advantage of a cash-back or rewards credit card to make your monthly mortgage payment, you’ve probably envisioned the possibilities — earning 1.5% back each month on your payment, thus chipping away an extra 1.5% from your principal. Or maybe you want to earn enough rewards to pay for... Read More

How Much House Do Americans Actually Own?

Mortgages

How Much House Do Americans Actually Own?

How Much House Do Americans Actually Own?

When people say they own their home, it’s usually a half-truth at best. Often, a bank owns the home they live in — most of it, anyway. Still, Americans have a lot of real money tied up in their homes — on average, $150,506, according to a new report by the Urban Institute called “How... Read More

How Quickly Will My House Sell?

Mortgages

How Quickly Will My House Sell?

How Quickly Will My House Sell?

Homes are, on average, consistently selling at a faster pace than they were 3 years ago, according to new data from real estate company RE/MAX. The RE/MAX National Housing Report looked at 53 metropolitan areas in June, and found the national average number of days on market for residential properties was 54, down 4 days from May 2016 and... Read More

See, You Can Get a Mortgage With Bad Credit

Mortgages

See, You Can Get a Mortgage With Bad Credit

See, You Can Get a Mortgage With Bad Credit

The number of people getting mortgage loans with less-than-stellar credit has steadily grown over the last three years, right alongside those getting loans with excellent credit. That was the finding of Equifax’s most recent National Consumer Credit Trends Report, which also shows that total mortgages increased in the first quarter of 2016 by 10.3%, home... Read More

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