Refinancing an underwater Gulf Shores house could make your home sweet home all the sweeter with a lower mortgage payment. Want to refinance your mortgage? New programs might help. If you have questions about refinancing an underwater Gulf Shores house, please don’t hesitate to contact us or post them using our comment form.
Types of Gulf Shores Home Mortgages
Many types of Gulf Shores home mortgages — such as the “payment-option” loan — have disappeared in the wake of the housing bust. But homebuyers and homeowners who want to refinance still have several types of loans from which to choose. The most basic choices include: fixed-rate mortgages, adjustable- or variable-rate mortgages and hybrid mortgages […]
Gulf Shores Homebuyers – Know the FICO Rules
Gulf Shores homebuyers need to know the rules of credit reporting in this marketplace where lenders are demanding record-high FICO scores. Given the importance of maintaining high scores, we thought it would be helpful to go over the key rule concerning inquiries that affect Gulf Shores homebuyers, since Fannie Mae and Freddie Mac are now […]
Gulf Shores Housing Being Stifled by Lending Restrictions
Gulf Shores housing is finally recovering as conditions have boosted affordability to an all-time high. At the same time, a new study shows that lenders’ unwillingness to loosen their qualifications may be slowing down the recovery. The latest data from the annual Harvard Joint Center for Housing Studies report shows that, in general, the Gulf […]
Gulf Shores Home Appraisals Continue Plaguing Sales
Gulf Shores home appraisals are continuing to make it difficult or even impossible for some borrowers to buy a home or refinance the one they have. Home buyers as well as real estate agents are being left frustrated at their inability to take advantage of the great market opportunities right now, with almost a third […]
Mortgage Rates Continue in Unchartered Territory
Mortgage rates continue to charter unfamiliar waters with seemingly new record lows on a weekly basis. With the exception of a few blips on the radar over the past 6 months, mortgage rates have continued to stay at, or below, previous all-time record lows, and the stagnant economy is to blame. Mortgage Rates On An […]
Are Biweekly Mortgage Payments A Good Idea?
Thinking of ways to pay off your mortgage early? Thinking about signing up for a Biweekly Mortgage? Think again. The conventional thinking is that increasing the frequency of the payments saves interest over the course of a 30- or 15-year mortgage that can equal years eliminated from your loan. Before you sign up for this […]
Mortgages Show Record Savings vs Rent in Gulf Shores
Mortgages are netting households the biggest cost savings relative to rent in at least 20 years in Gulf Shores. And with home prices as low as they may ever be again, now may be the ideal time for would-be home buyers to consider throwing in the towel on rent, and take advantage of all the […]
A Gulf Shores Mortgage – 6 Don’ts After You Apply
A Gulf Shores mortgage is more difficult to get these days than ever, but there are some things home buyers tend to do that delay, or even kill a deal. This seems to be especially true during the time after signing a contract, and waiting for the home to close. 6 Things To Never Do […]
Refinancing Gulf Shores Borrowers Mostly Choosing Fixed Rate Loans
For Gulf Shores borrowers refinancing mortgages in the fourth quarter of 2011, fixed-rate loans accounted for more than 95 percent of refinanced loans. Refinancing Gulf Shores borrowers clearly preferred fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate. This news was based on Freddie Mac’s Quarterly Product Transition […]
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