Nearly Half of Homebuyers Don’t Shop for a Mortgage

Mortgages

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

Mortgage Rates Hit 19-Month Low

Mortgages

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

Mortgages

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

5 Rules for Refinancing

Mortgages

5 Rules for Refinancing

5 Rules for Refinancing

Mortgage rates are now at the lowest level we’ve seen in the past year and a half. If you can save money by refinancing your mortgage and have been putting it off, you owe it yourself to explore your options. First, here are five considerations to help you weigh whether a refinance is worth it…. Read More

6 Ways to Make Sure You’re Buying an Energy-Efficient Home

Mortgages

6 Ways to Make Sure You’re Buying an Energy-Efficient Home

6 Ways to Make Sure You’re Buying an Energy-Efficient Home

There is plenty to think about when you are buying a home — but little is more important than finding a home you can afford. Among the characteristics recent homebuyers are looking for in a home, energy efficiency is becoming increasingly important. So how do you know if the home you are buying is green enough… Read More

Think You Can’t Afford to Buy a Home? Think Again

Mortgages

Think You Can’t Afford to Buy a Home? Think Again

Think You Can’t Afford to Buy a Home? Think Again

Did you have a bad credit event in recent years? Do you have less than two years in the same career field? Is your monthly income less than three times your proposed payment? Fear not, when your financial picture doesn’t fit neatly into the box, you may still qualify with some lenders. Here’s how. When… Read More

What Is Amortization?

Mortgages

What Is Amortization?

What Is Amortization?

Calculating how much home you can afford can be difficult and feel overwhelming. You need to consider how much down payment your finances allow as well as the monthly payments you can realistically make before finding the right home. One term you will hear during the mortgage phase of buying a home is amortization. It’s… Read More

6 Reasons to Make a Larger Down Payment

Mortgages

6 Reasons to Make a Larger Down Payment

6 Reasons to Make a Larger Down Payment

Deciding how much down payment to make when buying a home can be a challenge — and it can make a big difference in how much your home costs you. The amount of money you pay upfront determines how much your mortgage payment is. If you can afford to make a down payment that is larger… Read More

What to Do If You’re Still Underwater on Your Mortgage

Personal Finance

What to Do If You’re Still Underwater on Your Mortgage

What to Do If You’re Still Underwater on Your Mortgage

Deciding how much mortgage you can afford can have some major consequences if it turns out you were wrong. If your mortgage bills are piling up faster than you can pay them and your house isn’t worth what you owe, you may be thinking of scary scenarios like losing your home through foreclosure, or a plunging credit score. You… Read More

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