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Figure out your estimated monthly mortgage payment by estimating your loan amount, interest rate, and time period.

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Applying for a Mortgage after a Bankruptcy

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.

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What Are Typical Mortgage Down Payments?

Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more

FHA Eligibility with Bankruptcy and Foreclosure

FHA mortgage loans require borrowers to wait three years after a foreclosure and two years after a bankruptcy before applying for financing. Good credit since the incident is generally a requirement as well. more

Should You Refinance? Make Sure the Timing is Right

Deciding whether or not you should refinance depends on your personal financial situation. If interest rates are lower today than they were when you first took out your mortgage, refinancing makes sense. more

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.

Fixed Rate Mortgage - A loan with a constant interest rate that does not change throughout the duration of the loan.

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.

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Mortgage Rates Drop to 7-Week Low

After a two-month rest above 4 percent, long-term mortgage rates have dipped back into more familiar territory this week, according to mortgage backer Freddie Mac, being pulled down by overseas stock troubles. The average rate on a 30-year fixed rate conventional mortgage declined to 3.98 percent, excluding fees during the week ended July 30, 2015, down from 4.04 percent the week before. The 30-year rate is also down from one year earlier when it averaged 4.12 percent. “Monday’s 8 percent decline in Chinese stock prices triggered similar — though smaller — sell-offs in global equity markets,” said Freddie Mac chief economist Sean Becketti. “The associated flight to quality drove U.S. Treasury yields down nearly 5 basis points. … With no clear direction coming from the Fed this afternoon, we expect more of the same in coming weeks.” Foreign economic distress was not the only contributing factor this week, Becketti said. “Recent housing data exhibited the same good news/bad news pattern as overseas developments. Coming into this week, existing home sales for June and the latest FHFA house pricemeasures both suggested a stronger tone in the housing market,” he commented. “However this week brought nothing but bad — or at least weaker-than-expected — news. New homes sales and pending home salesboth weakened and the Case-Shiller house price indices , while positive, fell below the lower end of expectations. Finally, the inadvertent release of Fed staff projections increased uncertainty over the timing of future Fed rate moves.” The 15-year fixed rate mortgage also carried a lower rate this week, falling to 3.17 percent, down from 3.21 percent the previous week and from 3.23 percent during the same week of 2014. Rates on one-year adjustable rate mortgage also slipped, decreasing to an average of 2.52 percent from 2.54 percent the week before. The rate is still higher than last year’s 2.38 percent. more

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