Category: Mortgages
Refinance boom dies down as mortgage rates soar
For large parts of the past two years, mortgage refinancing has been booming, as historically low mortgage rates and surging home prices created an opportunity …
The most equity-rich homeowners in America live here
Nearly half of U.S. mortgage payers own at least 50 percent equity, according to ATTOM’s Q2 2022 Home Equity & Underwater Report. This means that the balance of …
Inflation could mean your house is underinsured. Here’s why
With home construction costs continuing to soar due to issues with the supply chain, labor shortages, and worsening natural disasters, many homeowners could be left underinsured. …
Why homeowners in this state are facing an insurance crisis
Florida has generated reams of feverish headlines lately for controversies about the teaching of sex and gender issues in public schools, and whether the Disney …
Why you shouldn’t try to pay off your mortgage too quickly
You’ve seen them. Over and over and over again, so-called personal finance gurus railing against debt. But as I pointed out before, they’re dead wrong (in …
4 genius ways to cut your mortgage costs, even as inflation soars
As mortgage interest rates edge toward 5% and higher, expect to see fewer refinances compared with the last two years. “Mortgage refinances surged in the last two …
Can you really pay off a mortgage in just 5 years?
Paying off your mortgage ahead of time might sound like an incredibly savvy thing to do, and in some cases, it is. But it’s not …
Why aren’t more homebuyers comparing mortgage rates
Can you be sure you snagged the lowest mortgage rate possible if you didn’t compare offers from different lenders? For many American homeowners surveyed by …
Mortgage rates are at a 13-year high. Here’s why
Mortgage rates in the United States continued their steep climb last week, adding to the woes of would-be home buyers that are already facing historically high …
Are we in another housing market bubble? Will it burst again?
The housing market is out of control in many areas of the country, with record-high home prices and record-low inventories. Prices had been steadily increasing since 2012, …
States where mortgage rates are rising most
Since the start of the year, mortgage rates have risen dramatically. The record-low rates of 2021 are gone, with rates above 5% becoming standard. While a lower rate …
Is paying mortgage points ever a good idea?
If you’re shopping for a home mortgage, you’ve probably seen the term “mortgage points.” Before you take the next step to sign a mortgage preapproval or …
Should you take a loan for mortgage closing costs?
Borrowers with good credit may get a personal loan for mortgage closing costs. Bringing personal loan money to the closing table can help you finalize your …
Don’t pay off your mortgage early. Here’s why
Paying off your mortgage has been a monumental goal for decades now. But is it the right thing to do in the 21st century? Read on …
7 big mortgage mistakes (and how to avoid them)
Although mortgage interest rates have recently pulled back some, they’re still historically low. When rates were lower yet, I decided to refinance the mortgage on our home. …
9 mortgage scams you need to know about
What is mortgage fraud? Mortgage fraud refers to lying or omitting information to fund or insure a mortgage loan. It results in billions of dollars in …
Thinking about getting a reverse mortgage? Read this first
If you’re at or nearing retirement age and looking for a way to generate cash flow, a reverse mortgage can seem like a great idea, especially …
18 questions you need to ask before closing a mortgage
Hiring a knowledgeable mortgage lender is one of the first steps you’ll take on your journey to homeownership. A good lender could help you make a …
Want a mortgage approval? Avoid these 7 mistakes
How much house can I afford? That is a question many home-buyers ask themselves when they are in the process of buying a new home. Purchasing a home is …
What is a fixed-rate loan?
A fixed-rate loan is a lending product that allows eligible consumers or businesses to borrow money with an interest rate that does not change over the …
Your home insurance is about to get more expensive
Homeowners may see an increase in their home insurance premiums in the coming year, according to a white paper released by the American Property Casualty Insurance Association. The spike …
Mortgage interest deductions explained
Homeownership has long been a part of the American dream, and it opens the door to benefits like the mortgage interest deduction for those who …
These cities saw the biggest rise in home prices this year
It’s never easy buying a house, and in certain cities, real estate is coming at an increasingly higher cost, now more than ever. Following the onset …
Why most people don’t get mortgages from banks anymore
The housing market is continuing its hot streak with mortgage applications surging into the holiday season, a time when demand typically cools off. Getting approved for a …
What is a second mortgage?
If you’re a homeowner, your house is not only the place you call home but also an asset. In fact, it’s the largest asset of …
What is a piggyback mortgage loan & how does it work?
At its simplest, a piggyback mortgage can be defined as a second mortgage, typically a home equity loan or home equity line of credit (HELOC). …
Here’s how your mortgage compares to your neighbors’
Figuring out how much home you can afford entails much more than the interest rate on a mortgage loan and what your monthly mortgage payment …
How to buy a home when you’re single
Buying a house as a single woman has become more mainstream over the past few decades. This rise is partly due to an increase in …
What Is an assumable mortgage?
Homebuyers have more mortgage loan options available when buying a home than they may think. One of those could be the assumable mortgage, a home loan …
Can you lose your house with a reverse mortgage?
For older Americans who may find they need more money in retirement, using a reverse mortgage to convert some of their home’s equity into cash can …
