Fannie Mae is slated to end its HomePath mortgage offering on October 6, 2014. Read on to see what this means to home buyers.
During the underwriting process, your mortgage company will be examining your finances quite closely to ensure you’re a solid loan candidate. Because of this, it’s important that nothing you do makes your mortgage company question your ability to pay them back. To show them you’re nothing short of their dream loan candidate, here’s a list of things you should avoid doing during the underwriting process.
If you’re looking to get a mortgage without your spouse, or if you’re just wondering why in the world someone would do this, I’ve got a few answers. Here’s what you should know about buying a house with only one spouse on the loan.
Is it still a good time to refinance your mortgage? Or is the refi boom over and done with? Here’s the truth about refinancing in today’s market.
If you’re thinking about buying a home but you have outstanding student loan debt, you’re far from alone – you’re riding in the same boat with 37 million Americans. Quicken Loans Operations Director Lindsay Villasenor said about half of the applicants she sees have some sort of student loan debt on their credit report. If you have student loan debt, it doesn’t mean a mortgage is out of reach.
Understanding mortgage rates and how they relate to mortgage terms and interest is critical to making the best mortgage decision. That’s why we’ve created a new Zing educational guide – Mortgage Rates 101. We want you to be knowledgeable before you apply for your mortgage.
There are a variety of ways your mortgage payment can be misapplied. Our team members who handle payments put together a list of some common mistakes and how to avoid them. They generally come down to making sure you clearly communicate what you’re intending to do with the money you’re sending in.
Here’s some good news: After falling through the floor in the aftermath of the 2008 financial crisis, housing prices are finally enjoying a sustained upswing. According to the CoreLogic Home Price Index, year-over-year home prices rose by an impressive 11.8% in 2013, making it the best year for home price appreciation since 2005. According to the Case-Shiller Home Price Index, the U.S. housing market is “on a roll,” with year-over-year gains of over 20% in some parts of the country. After years of fretting, you may now be sitting on some valuable home equity you didn’t even know you had! The question is, how can you harness that increased equity?
You might think that you can just use whatever financial gifts your friends and family give you for your down payment, but it’s not as cut and dried as you might think. When you’re qualifying for a mortgage, the source of the funds in your bank account will matter just as much as how much money you actually have. Here’s what you need to know if someone’s given you money to put toward your down payment.
You’re probably familiar with what a foreclosure is – when a lender forecloses, or takes over, a home that they loaned money on. You may not be as familiar with the acceleration clause the lender invoked to begin that foreclosure process. So what’s an acceleration clause and what does it mean for you? Let’s find out!