By understanding the requirements to get a mortgage after a bankruptcy and by carefully rebuilding your credit standing, you can apply for a loan and buy a home.
Low Mortgage Rate Search
Find Updated Adjustable Rates
Mortgage Rate Resources
Figure out your estimated monthly mortgage payment by estimating your loan amount, interest rate, and time period.
Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more
FHA (Federal Housing Administration) loans are popular with first-time home buyers. FHA loans are easier to get and have some advantages over conventional mortgages. more
Loan modification has become very popular in recent years with mortgage lenders. It has been used in a variety of different ways to change the existing terms of mortgages that they hold. While sometimes loan modification can be to your advantage, many times it is not. There are many loan modification scams out there that you should be aware of. Here are a few warning signs to watch out for with loan modification. more
- What To Do When Mortgages Default
- Should You Refinance? Make Sure the Timing is Right
- How to Get Approved for an FHA Loan despite Bad Credit
- FHA Eligibility with Bankruptcy and Foreclosure
- 3 Common Short Sale Mistakes
- Second Mortgages: Advantages and Disadvantages
- Low Down Payment Loan Qualification
- Short Selling a Rental Property
- Home Equity Loans for People with Bad Credit
- What Lenders Don't Reveal About Home Equity Loans
- 3 Factors that Can Negatively Affect Your Mortgage Application
- Alternatives to Getting a 2nd Mortgage
- 3 Reasons Banks Reject Short Sales
- Appraisal Basics
Adjustable Rate Mortgages
These mortgage loans, often referred to as ARMs, have interest rates that periodically adjust based on a variety of indices. ARMs usually allow borrowers to lower their initial payments, in exchange for assuming the risk of interest rate changes.
Mortgage Loan Types
Select a loan type best suited to your needs.
Adjustable Rate Mortgage - A loan with a floating interest rate, determined by a set of indices.
FHA Loan - A loan guaranteed by the Federal Housing Authority.
VA Loan - A loan offered to American veterans by the U.S. Department of Veteran Affairs.
As the Chinese government continued to devalue its currency and create major financial waves, long-term U.S. mortgage interest rates tumbled to their lowest level in two months, according to mortgage finance company Freddie Mac. During the week ended August 27, 2015, the average rate on a 30-year fixed rate mortgage (FRM) sank to 3.84 percent, excluding fees, down from 3.93 percent the previous week and down from 4.10 percent the year before. “Events in China generated eye-catching volatility in equity markets worldwide over the past week,” said Freddie Mac chief economist Sean Becketti. “Interest rates also rocked up and down — although to a lesser extent than equities — as investors alternated between flights to quality and bargain hunting among beaten-down stocks. Amidst all this confusion, the 30-year mortgage rate dropped to 3.84 percent, the lowest mark since May and the fifth consecutive week with a rate below 4 percent.” Becketti also made it clear that the Chinese economic chaos could definitely keep rates low for the next few months. “Given the recent volatility, mortgage rates could change up or down significantly by the time this report is released,” he said. “There are indications though that the unsettled state of global markets will make the Fed think twice before taking any action on short-term interest rates in September. If that’s the case, the 30-year mortgage rate may remain subdued in the short-to-medium term, providing support for continued strength in the housing sector. Just this week, new home sales were reported to be up 26 percent year over year.” Rates also fell in the latest week on 15-year FRMs. The average dropped to 3.06 percent, down from 3.15 percent a week earlier and 3.25 percent during the same week of 2014. The one-year adjustable rate mortgage (ARM) average was unchanged at 2.62 percent, but up from last year’s 2.39 percent. more