What Are Typical Mortgage Down Payments?
Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more
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Applying for a Mortgage after a Bankruptcy
Qualifying for a home mortgage with a bankruptcy on your credit history requires time and money. Yet by understanding the requirements to get a mortgage after a bankruptcy and by carefully rebuilding your credit standing, you can apply for a loan and buy a home.
Your Credit Score
The three main U.S. credit bureaus--Equifax, Experian and TransUnion--maintain your credit history. Using that history, plus its own proprietary equation, the Fair Isaac Corp. calculates your FICO credit score somewhere between 850 and 300 points. Anything above 700 points is good to excellent, with... more
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Mortgages
In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.
Rates
Mortgage interest rates are determined by credit history strength, the number of points you pay, the size of your down payment and the type of loan program you choose.
Home Buying
Obtaining funding is crucial to buying a home. This requires applying for a mortgage, choosing a house that meets the appraisal standards, and determining the amount of the down payment.
Loans
There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.
Moving
When making a big move, it's essential to find out as much as possible about the schools, the neighborhoods, the housing costs and the community resources.
MORE MORTGAGE ARTICLES
3 Warning Signs of Loan Modification Scams
Loan modification has become very popular in recent years with mortgage lenders. It has been used in a variety of different ways to change the existing terms of mortgages that they hold. While sometimes loan modification can be to your advantage, many times it is not. There are many loan modification scams out there that you should be aware of. Here are a few warning signs to watch out for with loan modification. more
3 Reasons Banks Reject Short Sales
There are many reasons why banks reject short sales. The three most common reasons a property does not qualify for a short sale are: the offer price is too low, the buyer does not qualify, or the seller does not qualify for the short sale. more
- Should You Refinance? Make Sure the Timing is Right
- Second Mortgages: Advantages and Disadvantages
- FHA Loans for a First-Time Home Buyer
- Appraisal Basics
- How to Get Approved for an FHA Loan despite Bad Credit
- FHA Eligibility with Bankruptcy and Foreclosure
- 3 Factors that Can Negatively Affect Your Mortgage Application
- Low Down Payment Loan Qualification
- Alternatives to Getting a 2nd Mortgage
- 3 Common Short Sale Mistakes
- What To Do When Mortgages Default
- Short Selling a Rental Property
- Home Equity Loans for People with Bad Credit
- What Lenders Don't Reveal About Home Equity Loans
The Mortgage101 Blog
Borrowers Stick with Safe and Steady Mortgages
Homeowners are turning almost exclusively to fixed rate loans for their refinance needs, according to new data from mortgage finance company Freddie Mac. Of all the refinance loans made in the first quarter of 2012, 95 percent of them were fixed rate mortgages, indicating borrowers desire for security and the attractiveness of long-term interest rates... more