Low-Rate Home Loans? On paper it seems like the perfect time to refinance. The average rate on a 30-year fixed mortgage recently hit a 20-year low when it fell below 5% in mid-March. And the Fed has said that it will spend $300 billion to buy back government-backed Treasury bonds; that will probably keep loan […]

Qualifying for a Low-Down FHA Loan FHA (Federal Housing Administration) lending is soaring – with good reason. These mortgages are affordable, flexible and available. In fact, terms are so attractive that some may ask why all home buyers don’t use FHA mortgages. Since the housing bust began, FHA lending has soared to account for 20% […]

Foreclosure Prevention: Don’t Get Scammed When mortgage borrowers fall behind on payments and run the risk of losing their homes, they sometimes grab the first lifeline tossed their direction. Often that lifeline is a TV or Internet advertisement making grand promises – and has more than one string attached. There are many rescue scams that […]

Mortgage Scams – Don’t Get Taken The economic recession has caused a lot of homeowners to find themselves in danger of losing their homes. There are many situations that have cropped up because of it — on one side are the homeowners who are doing everything they can to stop foreclosure. On the other side […]

Mortgage Lending: The NEW Rules If you’re shopping for a mortgage these days, it’s a whole new world out there. many of the subprime loans that helped fuel the housing boom – those that didn’t require borrowers to show any proof of income, or that let homeowners make minimum payments – are are simply no […]

Mortgages: Beware of Fake Fixers When times are tough, scam artists know just how to exploit a desperate situation. That’s especially true when it comes to the housing industry, which has been decimated by a record number of foreclosures and defaults in the past year. One of the rip-offs that has emerged in this mess: […]

Mortgage Rates: If You Can’t Qualify The truth is not everyone can take advantage of either the home buying or refinancing market today, despite rates being at historic record lows right now. There are people who would love to lower their payment or buy a home at the record low prices some areas are seeing, […]

Mortgages: 2009 Advice With all the doom and gloom over housing, you might be surprised to know that this is a fantastic time to get a mortgage. Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan these days if you have a […]

How the Fed Rate Affects Mortgage Rates Fixed-rate mortgage rates, though not directly tied to the Fed Funds Rate, have been responding positively to market rate cuts over the past few months. Just as an overview, the Fed Funds Rate has a strong (if not direct) affect on the following: credit card rates adjustable-rate mortgages […]

Low Credit Score Home Loans For the most part, you can obtain a home loan with fair credit. In some cases, you may even be able to get a low rate. Unfortunately, if your credit score falls below 500, homeownership may be impossible. Even with a credit score below 600, your loan options are limited. […]