A new report by National Association of Home Builders says that around 63.6 percent of existing...
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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.
5 questions to ask yourself about refinancing
With the recent decline in interest rates, we are in the midst of what market forecasters are...
Appraisal requirement removed for some homes under $400,000
Regulators have removed the appraisal requirement for some homes valued under $400,000. While this...
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.
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...
A large number of homeowners are currently eligible for a refinance
Low mortgage rates have created a high number of homeowners who are eligible for refinancing,...
New home purchase applications on the rise thanks to low rates
New data released by the Mortgage Bankers Association (MBA)’s monthly Builder Application Survey...
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...
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.
Rents skyrocket across the United States
Did you hear the news? Across major cities in the United States, rent has increased yet again,...
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...