Cutting Mortgage Closing Costs
In a recent article I proposed that Fannie Mae and Freddie Mac be removed from limbo and given a new mission: to create a better primary mortgage market. Among other things, this would include the elimination of third party settlement costs.
More Than Rates to Consider When Deciding on FHA
Choosing between a conventional and Federal Housing Administration-insured mortgage is not an academic question. My calculations show that the wrong choice can cost as much as $33,000 over 15 years on a $200,000 loan, and as much as $66,000 on a $400,000 loan.
Fewer Seniors Seeing Mortgage-Free Retirements
When Tom Greco bought his four-bedroom home three decades ago, he assumed he'd pay off the mortgage before retirement -- just as his parents did.
Hope for Homebuyers With Low Credit Scores
Fear of a loan denial has led some consumers with low credit scores to simply not bother applying for a mortgage. But, while you'll still have to provide proof of your income and assets and an explanation of your low credit score, it is possible to get a mortgage with a low credit score from some lenders.
Mortgage Rates Spike to Highest Level Since May
Mortgage rates rose this week at the fastest pace of the year, with Freddie Mac's survey showing lenders were offering 30-year fixed-rate loans at an average of 4.23 percent, up from 4.12 percent last week.
Reverse Loan Borrowers Vulnerable to Rate Spike
For the last 24 years, mortgage interest rates have been in the single-digits, supporting a widespread presumption in the mortgage industry that this is the normal state of affairs.
When to Use a No-Cost Mortgage
A no-cost mortgage is one on which all lender fees are waived, and (subject to the possible exceptions described below) other fees are paid by the lender.
Home Financing for Single Borrowers
Steven Ganley was lucky enough to earn his master's degree in accounting from Duquesne University last year without piling up any debt.
Making Right Decisions in Choosing a Mortgage
Most home buyers who need a mortgage place themselves in the hands of a loan officer or mortgage broker referred to them by their real estate agent, or by a friend, relative or business associate.
Many Miss Out on Government Refinance Program
WILKES-BARRE, Pa. -- Homeowners struggling to meet monthly payments still have time to refinance through the Home Affordable Refinance Program, but many are not fully aware of the program.