Mortgages can be complicated, with lots of confusing terms and acronyms that seem like they come from another language. But you don’t need to be a real estate agent or a lending professional to speak the language of mortgages....
If you’re a regular follower of financial news and the real estate market in particular, you’ve probably noticed that it’s taken almost a decade for home values to finally return to their pre-Great Recession highs of 2007. It’s also...
Lending guidelines over the past few years have gradually relaxed in certain areas. Leading up to 2008 and immediately thereafter, lenders seemed to dry up available credit for home buyers. That was true but mostly the lenders that participated...
You’ve read here before about the five factors that directly affect credit scores, more specially, FICO scores calculated for mortgage loans. The FICO Company developed the original algorithm credit agencies use to come up with the three digit score...
With home prices on the rise, especially in markets like New York and San Francisco, it’s common for mortgage loan amounts to exceed the conforming and high balance conforming loan limits as set by regulation. These loan limits often...
Since first being introduced back in 1944 the Department of Veterans Affairs has helped millions buy and finance their home with a VA mortgage. Lending guidelines established by the VA allow lenders to underwrite and approve a VA loan...
A Brief History in Time Mortgage lending has made some dramatic changes over the past few years and when you include the period beginning in 2000, there have some rather wild swings regarding loan approvals. Mortgage lenders often change lending guidelines...
If you’re considering ways to save on long term interest and paying down your mortgage balance sooner rather than later, refinancing to a shorter loan term is probably the most common way to do so. Most mortgage loans issued...
There are two primary sources of mortgage money in today’s marketplace- conventional and government backed loans. Conventional loans are those underwritten to standards issued by mortgage giants Fannie Mae and Freddie Mac. By far making up the largest share...
There are two types of home buyers, those who want to buy an existing home in an established neighborhood or subdivision and someone who wants a brand new home that’s never been lived in before. New construction vs. existing...