It’s the American dream for the upwardly mobile: owning two houses. The first, to live in; the second, a place to unwind on the weekends or vacations, preferably on a beach or in the mountains. But for some people, owning a second home is the American nightmare. Paying for two… read more →
You might be ready to buy a home, but are you armed with the knowledge you need? Do you know about credit score requirements? Are you familiar with flexible standards on Federal Housing Administration loans Whether you are a first time homebuyer or an experienced owner, buying a house requires a “pre”… read more →
There’s no doubt about it: Lenders have tightened the guidelines they use to evaluate loan applications. That means borrowers who want to refinance their mortgage to take advantage of low interest rates may wonder whether they will qualify for a new loan. This summary should help you understand what lenders… read more →
Banks are getting very cautious about home mortgage loans these days — right up to the closing date. Even consumers with good credit and plenty of cash may find themselves out on the sidewalk if any of these last-minute loan application issues pop up. To make sure you’re on the right end… read more →
If you’re in the market for a new house or condo, you may also need a loan officer to help with underwriting and securing a mortgage. We suggest talking to two or more loan officers to find one who instills confidence. There is a trade-off. Sometimes the best rate doesn’t… read more →
Getting a mortgage can mean keeping track of a lot of moving parts. Savvy shoppers know to ask lenders about interest rates, closing costs and how much they can borrow. But even seasoned buyers may not know to dig a little deeper. Here’s a look at five key things that… read more →
The housing market is now in recovery, and foreclosures have been dropping. Since the housing bust, regulators have focused on preventing borrowers from taking out potentially toxic loans. To help accomplish this, the U.S. government established the Consumer Financial Protection Bureau in 2010. Many potential borrowers are still unsure about… read more →
Although any home loan might be the right choice for homeowners of any age, mortgage needs change over a lifetime. Here’s a look at which loans are best-suited to different life stages, including when you’re just starting out, hitting middle age and preparing to retire. Just Starting Out Many of… read more →
With new home production still well below annual historical averages, chances are you’re buying an older homes that needs some work. Believe it or not, there are loans out there that might suit your needs. If you’re planning to replace systems or appliances, consider an energy-efficient loan. Energy- Efficient Mortgages also… read more →
You don’t need to be a world-class negotiator to nab a great deal on your dream home. More often, it’s a matter of knowing what not to say. One errant comment or paperwork misstep can compromise your negotiating position. Playing it close to the vest around home sellers and listing… read more →