Once upon a time in the Gulf Shores mortgage market, "adjustable rate mortgages" (ARMs) was a phrase that was shunned. During the Great Recession of just a few short years ago, many consumers experienced their mortgage payments spike to levels of unaffordability. Sadly, some of those homeowners fell victim to foreclosure. But what about now? […]

In a move to assist Gulf Shores mortgage borrowers, the Federal National Mortgage Association (Fannie Mae) announced it will make substantial changes in a lending program for low-to-moderate-income households. The program, dubbed HomeReady, is scheduled to begin in December. It promises to feature new lending guidelines recognizing that many of Gulf Shores mortgage customers share […]

In addition to other favorable signs, the Gulf Shores mortgage market is expected to be one of the positive features in the recovery of the housing market. Experts say Home Mortgage Disclosure Act (HMDA) information indicates the housing improvement continues. Continued Improvement in Gulf Shores Mortgage Market Expected Because of the data trends, lending projections are expected […]

Whether it's a topic like the Gulf Shores mortgage industry or another subject, we live in an information-rich environment. The Internet, 24-hour cable news stations and a burgeoning social media network keeps Americans in touch with available information almost instantly. Yet the endless wealth of information at our disposal also means there's a glut of […]

The Home Affordable Refinance Program, or HARP, was instituted in March, 2009 and became a moderately successful tool for homeowners in the Gulf Shores mortgage market as well as other markets all across the United States. Help for Gulf Shores Mortgage Borrowers Because of fairly conservative loan-to-value restrictions, HARP was improved to HARP 2.0 in […]

One of the most important components to obtaining a good Gulf Shores mortgage is the down payment. Unfortunately, many homebuyers have misconceptions about down payments and how they impact their ability to obtain home financing. Let’s examine some of the down payment myths that are prevalent in the Gulf Shores mortgage arena. 4 Gulf Shores […]

Congratulations! After a few weeks of gathering documents and waiting for your mortgage loan to be processed you’ve finally been approved! Soon it will be time for the loan closing, the culmination of the process. Now it’s time to think about Gulf Shores loan closing costs and, more importantly, minimizing them and keeping more money […]

When it comes to the Gulf Shores mortgage market, these days the choices can be a little confusing. Mortgages typically fall into one of three categories: fixed rate, adjustable rate (or ARM) or hybrids (a combination of features of both fixed rate and adjustable rate offerings.) No matter which type you choose, it’s best to […]