PMR Mortgage Blog

The 3 Most Important Numbers for your Mortgage Application

The 3 Most Important Numbers for your Mortgage Application

When it comes to getting a lender's approval to buy or refinance a home, there are 3 numbers that matter the most — your credit score, debt-to-income ratio, and loan-to-value ratio. These numbers can affect your ability to qualify for a mortgage and how much it costs you. Here's a rundown of what they are and why they matter.

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5 questions to ask yourself about refinancing

5 questions to ask yourself about refinancing

With the recent decline in interest rates, we are in the midst of what market forecasters are calling a mortgage refinance "boom." One study by Black Knight estimated that, as of July 2019, nearly 8 million homeowners were eligible for a mortgage refinance. If you own...

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Appraisal requirement removed for some homes under $400,000

Appraisal requirement removed for some homes under $400,000

Regulators have removed the appraisal requirement for some homes valued under $400,000. While this new rule impacts many types of loans, it's important to note that not all loans will be affected. Loans that are guaranteed or insured in part, or entirely, by a...

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Low Mortgage Rates Offer Borrowers Plenty of Options

Low Mortgage Rates Offer Borrowers Plenty of Options

Lower interest rates have historically given homeowners the green light to refinance their homes in order to lower their monthly payments. Even if you think you have a great rate already and won't benefit from refinancing your mortgage, you may be mistaken. There are a multitude of reasons for refinancing your mortgage.

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The amount of equity homeowners have is hitting record highs

The amount of equity homeowners have is hitting record highs

A new report by CoreLogic found that the amount of equity homeowners have in their homes is at an all-time high. The data company reported that the national share of homes with negative equity fell to just 3.8 percent, and since the second quarter of 2018, 151,000...

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Home prices continue to slow for 14th month in a row

Home prices continue to slow for 14th month in a row

For the 14th month in a row, the rate at which homes prices are increasing has slowed down. In May, prices saw just a 3.4 percent annual increase according to the S&P CoreLogic Case-Shiller National Home Price Index. Nationwide, the top 10 metro areas in the...

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The Fed Cut Interest Rates for the First Time Since the 2008 Crisis

The Fed Cut Interest Rates for the First Time Since the 2008 Crisis

The Federal Reserve's decision to cut interest rates 25 basis points for the first time in over a decade marked a dramatic shift in monetary policy. For consumers, the cut could mean a reprieve in escalating borrowing costs, which can impact your mortgage, home equity loan, credit card, student loan tab, and car payment.

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Rents skyrocket across the United States

Rents skyrocket across the United States

Did you hear the news? Across major cities in the United States, rent has increased yet again, according to a new report from RentCafe. The annual report found that the average rent in the U.S. has increased by 3.2 percent year over year and by 2.6 percent since the...

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Advantages of Using a Local Lender vs Online

Advantages of Using a Local Lender vs Online

Borrowers have more options than ever when it comes to purchasing a home. Who you choose as your lender is a serious decision that can impact you for years to come. While online lenders offer quick approvals tethered to high interest rates, local lenders like Premier...

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