Category: Mortgages
Private money vs. hard money loan requirements, interest, fees & more
What’s the difference between hard money and private money loans? What can you expect from private money and hard money loan requirements? Real estate investors sometimes …
2023 mortgage statistics in a challenging housing market
Demand was incredibly strong through 2020 and 2021 as record-low mortgage rates and high personal savings helped create a homebuying frenzy. But times have changed quickly. …
Majority of Americans who don’t own their own home have this common fear
Owning a home has long been considered the quintessential American dream, but the path to those white picket fences is far from smooth. Although 84% of …
How much are home equity loan closing costs?
Tapping your home equity to remodel your kitchen or consolidate your credit card debt can be a great option — but don’t forget about closing costs. …
Balloon mortgages: What they are & how they work
A balloon mortgage allows you to enjoy low monthly payments for several years — with a big catch. Your final payment amount “balloons” sharply, potentially leaving …
Texas Gov. Abbott announces $87.7M in housing tax credits
Texas Governor Greg Abbott announced on Monday that the Texas Department of Housing and Community Affairs (TDHCA) had awarded almost $90 million in tax credits. These …
Less for more: new-home sizes have decreased nationwide, while prices per square foot have jumped 95%
Though they’ve come down somewhat from their pandemic highs, home prices are still steep, especially compared to 10 years earlier. While some of the extra money …
Using a mortgage broker vs. comparing lenders yourself
With so many mortgage products on the market, it can be difficult to find the mortgage that’s just right for you. This is especially true if …
8 creative ways to buy property when mortgage rates are high
High interest rates and a nationwide housing shortage make for a tough combination for homebuyers and investors alike. So, what creative financing options do you have …
Mortgage rates dip even as refinancing demands spike
Sales Keep Sliding In November, existing home sales fell for the 10th straight month. This added to an already record-long streak, with higher mortgage rates …
Considering a reverse mortgage? Read this first
A reverse mortgage allows homeowners age 62 or older to tap equity without making a mortgage payment on the amount they borrow. However, the most popular …
This data on mortgage rates & home prices will make your head spin
Mortgage interest rates are the percentage of your loan amount that you will pay in interest each year. In the U.S., mortgage rates are steadily …
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 …
