With the housing market in full recovery mode and home values on the rise you might be considering tapping some of the equity in your home. Those considering this option should do their homework first. The time you spend now could save you heartache (and plenty of money) in the future. Take these four steps before signing […]
So you’re considering buying a home and you’ve got it all planned out: a four-bedroom home in the top local school district and your favorite neighborhood including a manicured lawn, a finished basement with a theater room and—why not?—an outdoor kitchen. Slow down… one of the first steps in buying a home is to clean up your credit score, also called a […]
Mortgage rates held near their recent lows this week, with 30-year, fixed-rate loans averaging 3.59%. Last week, the average rate was 3.58%. A year ago it was 3.65%, according to Freddie Mac. Policymakers at the Fed raised short-term interest rates in December, causing people to worry that mortgage rates would rise, too. Thus far they […]
A Good Faith Estimate (GFE) is a form that lists basic information about the terms of a mortgage loan for which you’ve applied. The GFE includes the estimated costs you’ll have to pay for the home loan. The Good Faith Estimate provides you with basic information about the loan including the Annual Percentage Rate (APR), […]
Two major banks are hoping to overhaul the 15-year mortgage, making it more accessible to low and moderate-income people. The banks suggest these changes will help borrowers build equity at a much faster pace than they would with a standard loan. In addition, the creators of the Wealth Building Home Loan, which allows home buyers to build equity at […]
LendingTree’s monthly Credit Accessibility Report shows the average accessibility score for U.S. borrowers rose from 103 to 106 between July and August, indicating that borrowers had easier access to mortgage credit making it easier for homebuyers to qualify for a mortgage. The Credit Accessibility score is benchmarked at 100, using data from the full year […]
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