The Gulf Shores mortgage market is abuzz with talk about refinancing. With 30-year fixed rates approaching all-time historical lows many economists say this could be the best time ever to refinance your mortgage – even if it’s only a few years old with what was a great interest rate at the time. Recent turmoil over […]
Gulf Shores Mortgage Market: Deja Vu?
The Gulf Shores mortgage market remembers – as do we all – the U.S. housing crash of less than a decade ago. One of the hallmarks of the crash was mortgage lenders who required little or no supporting documentation. When the housing market was booming, they were called “stated income” loans and were advertised as […]
Gulf Shores Mortgage Market: Even the Rich Have Poor Credit
The Gulf Shores mortgage market probably contains a number of borrowers and prospective borrowers who would be considered affluent. As such, one would assume people who have lots of money, large assets and high net worth would almost automatically qualify them for a jumbo mortgage. If you assumed that, you'd be wrong at least some of […]
Gulf Shores Credit Scores Deter Young Borrowers
Gulf Shores credit scores are a genuine concern among a growing number of young consumers considering entering the home buying market. First-time home buyers that could potentially exchange their rent payments for equity-building house payments are remaining on the sidelines. They are fearful their credit scores may not be good enough to qualify for a […]
Gulf Shores Mortgage Rates – Find the Best
Gulf Shores mortgage holders agree, a mortgage is probably the single largest financial obligation most American homeowners will ever assume. Unlike personal loans, car loans or other consumer loans, the interest rate on a home mortgage loan can add up to a substantial amount over the life of the loan. Conversely, the lower your mortgage interest […]
Gulf Shores Mortgage Refinancing
The Gulf Shores mortgage lending market experienced something unusual in the past sixty days. The Federal Reserve raised the interest rate back in December 2015. Since that time, mortgage interest rates have dropped to their lowest level in three years! Most economists and mortgage lenders pointed out at the time that an increase in the Fed Funds rate […]
Gulf Shores Credit Repair: What You May Not Know
Gulf Shores credit repair is very important these days. Good credit can ensure you get a preferred interest rate when you borrow and it's important to landlords when you rent. Insurance companies and prospective employers are using credit scores more and more. Because it's such a hot topic, if you have credit blemishes or bad […]
Gulf Shores Homeowners Refinance for Cash
Gulf Shores homeowners are enjoying higher home values and are using their equity to take cash out of their properties by refinancing. Surprisingly, however, they are doing it conservatively –– more than any other time in recent history. A closer look reveals why that may be the case. "Take Only What You Need" – Gulf Shores […]
Want a Gulf Shores Mortgage? Don’t Use Cash
Gulf Shores mortgage lenders have “seen it all.” With banks paying low interest rates and the stock market in the midst of a mini-crash, it’s tempting to just keep your cash at home. However, if you’re planning to buy a home and need that cash for a down payment you’d better rethink that investment “strategy.” You won’t be able […]
Gulf Shores Mortgage Insurance – Getting Rid of it
If you have a Gulf Shores mortgage and didn't make at least a 20% down payment, you probably have private mortgage insurance (PMI.) PMI protects the lender if the borrower is unable to make the mortgage payments. Because PMI premiums are paid monthly in the mortgage payments, they can add up. So, how can you avoid PMI […]
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