The mortgage approval process is rigorous. Since the housing bubble burst in 2008, federal regulators have ratcheted up their standards. Here’s a list of the do’s and don’ts to be approved. Do this. Brace yourself...
The mortgage approval process is rigorous. Since the housing bubble burst in 2008, federal regulators have ratcheted up their standards. Here’s a list of the do’s and don’ts to be approved. Do this. Brace yourself...
When searching out home-financing opportunities, it’s worthwhile to see if you qualify for government programs that offer attractive terms. The loans are usually administered through a private mortgage lender, but are insured by the federal...
If sustainable living is an important part of your lifestyle, you might be a candidate for a “green mortgage” when purchasing your next home or refinancing your current home. A little-known lending product, the green...
When planning to build a custom home, buyers have their choice of two types of construction loans. The traditional type involves two closings, one for the construction phase and one for the permanent mortgage. The...
When buying a home and applying for a mortgage, a good credit score is critical. A home can be purchased with less than stellar credit, but often at interest rates and terms that aren’t to...
When buying your first house, the terms and conditions of the mortgage process can be confusing. Here’s a primer on two such terms: points and the origination fee. Origination fee. This is the cost that...
Each month you send off a hefty chunk of money to your mortgage company. If you’re like most people, it represents 25 percent to 30 percent of your income. That payment is split into as...
Buyers who put less than 20 percent down on a home might find themselves with a higher-than-expected monthly payment. The extra money, which often takes first-time homebuyers by surprise, is for private mortgage insurance. What...
Mortgage lending is yet another industry that has undergone massive change by the internet. Online lenders advertise fast and easy transactions while traditional lenders offer more personal service. Regardless of which option you choose, it’s...
Despite the mortgage-lending reforms that followed the 2008 economic crash, it’s your job as a consumer to be on guard against questionable lenders — especially if you have damaged credit and shaky finances. Here’s how...
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