Mortgage Tips and Advice
Homeowners have plenty of options when it comes to financing new kitchen remodel, spiffed-up bathroom design, new mud room or added wing.
The average interest rate on a 30-year mortgage is now 5.35 percent. That’s over two percentage points higher than at the beginning of 2022. These higher interest rates will undoubtedly change the home-buying scene as people weigh the costs of borrowing. But one constant is that the majority of new mortgages are of the 30-year fixed variety. Ever wonder why?
Some mortgage watchers say the 2022 run-up in mortgage rates could be even more dramatic than in 1994.
While condos can be an excellent choice for many households, it’s important to note that government-sponsored enterprises Fannie Mae and Freddie Mac have recently added an addendum requirement for an extra layer of protection.
If you’re considering a second home or a property that’s priced above the conforming loan limits for your area, the Federal Housing Finance Agency’s (FHFA) new announcement regarding fee hikes may affect you.
Improving your diet and health are common New Year’s resolutions, but improving your financial health should be a priority, too.
The following are some of the best first-time homebuyer loan options
Here are the biggest fintech trends to watch for in 2022 that will help you save time and money.
First-time home buyers frequently face the challenge of saving for a large enough down payment for their first home purchase.
If you’re thinking about purchasing a home in 2022, here’s what you need to know about the latest conforming loan limits.
Buying a home has never been more expensive, but if you can find one you can afford, there’s some good news after you move in: You might be able to take advantage of the mortgage interest deduction to lower your tax bill.
Here are trends to watch in 2022 relating to mortgages, housing and real estate.
It’s time for New Year’s resolutions! This year, why not add a real estate resolution or two to your list–and see if you can make it happen?
Today’s combination of low mortgage rates and high inflation is exceedingly rare. So one of those conditions is likely to end soon — and if prices remain elevated, economists say, mortgage rates will rise.
To keep yourself healthy, you make sure to schedule an annual physical. To maintain your financial well-being, it is essential to schedule an annual real estate checkup.
Whether you’re ready to purchase a home right now or you plan to wait a while, you may be interested in staying apprised of the Federal Reserve’s latest decisions.
If you’ve been on the search for housing, you’ve probably noticed that the market is incredibly competitive for both renters and buyers. As a result, the restrictions put in place earlier this year have been lifted in an effort to give a boost to the dwindling housing supply across the country.
When you are self-employed, the most challenging part of the mortgage application process often has to do with gathering proof of income and employment verification.
recent changes in Federal Housing Administration (FHA) make it easier for those with student loans to qualify for a mortgage.
A home appraisal is assumed as a compulsory step for any real estate transaction. However, some home loans may not require an appraisal and prospective home buyers and sellers are able to skip this step entirely.
One strategy for benefiting from these conditions could be to refinance your mortgage and wrap any home equity debt you have — like a home equity loan or a home equity line of credit (HELOC) — into the new loan.
Rates have mostly climbed since January, and their trajectory for the rest of 2021 depends on a factor that hasn’t played a prominent role in the mortgage market for decades — inflation.
Both prospective investors and homeowners should familiarize themselves with mortgage-backed securities as they can greatly aid in growing wealth.
Frequently, first-time homebuyers will turn to relatives to help with a down payment or to cosign on the loan. However, all the parties involved need to be very aware of the pitfalls before agreeing to this arrangement.
Springtime has arrived and people are thinking about major renovations, repairs, or restorations on their home.
Fairway Mortgage’s The Rueth Team is proud to announce the arrival of Gabe Bodner as the team’s new reverse mortgage division manager.
To lock or not to lock, that is the home buyer’s choice. However, buyers need to understand this is a commitment from both the mortgage lender and themselves to close at the agreed upon interest rate.
If you’re a real estate investor or thinking about purchasing a second home while interest rates are historically low, it’s important to be aware of new guidelines recently set by Fannie Mae and the U.S. Treasury.
As you pay on your mortgage, the loan balance goes down a little each month. Once it is less than 80 percent of the original value, you can request the PMI be removed.
Bidding wars are becoming increasingly common due to limited inventory, so it’s quite possible you could find yourself submitting one of multiple offers.