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- FHA Mortgage Insurance: Big Changes On the Way, And Not For the Better
- Ten-Year Treasury Yield And Mortgage Rates Increase Aggressively
- Mortgage Advertisements: Pay Attention to the Fine Print
- Fed to Continue Buying Bonds for Forseeable Future?
- Avoid This Deal-Killing Mistake the Next Time You Apply for a Mortgage
- Home Affordable Refinance Program (HARP) For Underwater Homeowners Extended to 2015
- Large Cyprus Depositors Could Lose Up to 60% of Their Account Balances
- Eurozone to Cyprus: Take the Bailout, Or Else . . .
- Cyprus Bank Levy Voted Down, But the Damage is Probably Already Done
- Mortgage Rates Improved Significantly This Week
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Mortgage Advertisements: Pay Attention to the Fine Print
If you’re shopping around for mortgage offers, it’s important to read the fine print when lenders advertise rate offers. Often when you read the tiny disclaimers at the bottom of an ad, you discover that a particular loan offer isn’t really as good as it looked at first glance. Let me give you case in point. Continue reading
One Man’s $50,000 Mortgage Mistake
I recently talked with a guy who liquidated part of his IRA to pay cash for a new house. His plan was to buy the house, then use a cash out mortgage to replenish his IRA before he got hit with a big tax penalty for withdrawing the funds. What he didn’t realize was that his past short sale was going to significantly impact his ability to qualify for a new loan, even though he sounded like he was an otherwise strong borrower. This oversight on his part could end up costing him a $50,000 tax penalty if he can’t get the cash in his IRA replenished promptly. Continue reading
The Important Question You’re Probably Not Asking When Comparing Mortgage Offers
One of the biggest reasons it can be tough to compare various loan offers is that they’re often not apples-to-apples, meaning different loan offers often have different options and assumptions – all of which can impact loan pricing. Continue reading
Mortgage Processing Time Up 25% Versus 2011
If you’ve recently started the process on a new mortgage, you may have noticed that it takes a lot longer to get a loan done these days than in years past. Unfortunately, that’s pretty much the case industry wide, and it’s important you have that expectation at the outset so you don’t get frustrated if it seems like your loan is taking a long time. Continue reading
The Perfect Loan File: A Little Wisdom From Forbes About Going With the Flow in a Tough Lending Environment
If you’ve purchased a home or refinanced in the past few years, you’ve probably noticed that the process of getting a mortgage is much more involved and takes significantly longer than it did a few years ago. Continue reading
How to Use Income From a Second Job to Qualify for a Mortgage
If you’ve taken on a second job to generate some extra cash flow every month or get some bills paid off, you may be able to use the second job income to qualify for a new mortgage. The benefit of using second job income to qualify is that it lowers your qualifying debt-to-income ratio, or DTI, and strengthens your loan application. Continue reading
CNN Money: Good Luck Getting That 4% 30-Year Fixed Mortgage
CNN Money raises a great point that mortgage shoppers need to keep in mind when shopping for a new home loan. Just because a certain rate is available, it doesn’t mean that it’s available to absolutely everybody. Continue reading
MoneyNing: Don’t Believe These 3 Mortgage Myths
MoneyNing.com has a great post entitled “Don’t Believe These 3 Mortgage Myths” that deals with some common misconceptions about today’s much tougher mortgage lending climate. Continue reading
What is a “Gift of Equity” And How Does It Apply to a Home Purchase?
Most people might be aware that gift funds can be used to purchase a home, but fewer people probably know that it’s also possible to purchase a home with gifts of equity. Continue reading
