Refinanced Yet? Millions of Mortgaged Homeowners Missing Out on Low Rates

Posted by Laine Smith on 3/2/16 1:36 PM

Even as mortgage rates remained near 3-year lows last week, refinance applications fell back 7 percent for the second week in a row, according to the Mortgage Bankers’ Association. As mortgage rates have remained low and home values have increased, many U.S homeowners have been put in the prime position to refinance their mortgage but many are also missing out on the opportunity.

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7 Ways to Buy a Home Without a 20% Down Payment

Posted by Laine Smith on 2/28/16 12:35 PM

A major hurdle for some first-time homebuyers is coming up with the funds for a down payment or closing costs on their home purchase. According to a recent survey non-homeowners were asked what percentage of the total cost they would need to contribute as a down payment on a potential home purchase. Nearly 2 in 10 said somewhere between 11% and 20%, while another 17% said between 6% and 10% down.

Even more notable, almost a quarter of non-homeowners said they had no idea how much they would need for a down payment to buy a home. Here are 7 loan options for eligible homebuyers who wish to buy with little to no money down.

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Refinancing 101: Benefits of Refinancing With an FHA Streamline

Posted by Laine Smith on 1/26/16 3:09 PM

The Federal Housing Administration (FHA) is the largest insurer of residential mortgages in the world, having helped 4.8 million families achieve homeownership through affordable and accessible home financing. If you’ve been thinking of taking advantage of historically low mortgage rates and making your FHA mortgage even more affordable, here’s what you should know about the FHA Streamline Refinance.

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The Rent Cost Crisis: 6 Things You Should Know About Renting vs. Homebuying

Posted by Laine Smith on 12/10/15 3:13 PM

There are 9 million more renters in the U.S. than a decade ago, the biggest jump on record. As rental demand continues to outstrip supply and median income growth lags, the price of renting is likely to continue on its upward trend. If you’ve been sitting on the homebuying fence, these alarming rent statistics will show that you’re likely better off buying a home sooner rather than later.

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5 Home Loan Options for First-Time Homebuyers

Posted by Laine Smith on 11/30/15 2:27 PM

From student loan debt, saving for a down payment and building mortgage-ready credit, First-time homebuyers face different hurdles when it comes to buying a home. Here are some of the best options for home financing when preparing to buy your first home.

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Mortgage 101: Should I Pay Down Debt or Save For a Down Payment?

Posted by Laine Smith on 11/2/15 11:39 AM

Many potential homebuyers cite existing debt or saving funds for a down payment as hurdles in their homebuying journey. But what if you have existing debt and a low balance in your savings account? Where do you start?

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7 Biggest Homebuying Fears and How to Face Them

Posted by Laine Smith on 10/22/15 4:18 PM

Terrified of jumping into the homeownership circle? As with any large purchase, buying a home can be unnerving for someone who has little knowledge of the homebuying and financing process. Here's how to set some of those fears aside when thinking of buying a home.

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Mortgage 101: What Credit Score Do I Need to Get a Mortgage?

Posted by Laine Smith on 10/14/15 4:15 PM

Credit scores are a huge part of the loan approval process. Credit score not only determines your eligibility for home financing but can also determine what rate you will qualify for. Why? Because your credit score is used to determine how risky of a borrower you are.

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10 Common Homebuying Myths Debunked

Posted by Laine Smith on 10/12/15 11:57 AM

Buying a home is a huge investment, making education essential. Here are several common myths surrounding buying and financing a home.

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Finding the Right Financing Option for Home Renovations

Posted by Laine Smith on 10/1/15 11:25 AM

In a perfect world, homeowners and homebuyers would have the cash on-hand to turn their fixer-upper into the home of their dreams. In the real world, most homeowners need some type of financing to turn their renovation plans into a reality.

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