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
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Applying for a Mortgage after a Bankruptcy
Qualifying for a home mortgage with a bankruptcy on your credit history requires time and money. Yet 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.
Your Credit Score
The three main U.S. credit bureaus--Equifax, Experian and TransUnion--maintain your credit history. Using that history, plus its own proprietary equation, the Fair Isaac Corp. calculates your FICO credit score somewhere between 850 and 300 points. Anything above 700 points is good to excellent, with... more
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Mortgages
In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.
Rates
Mortgage interest rates are determined by credit history strength, the number of points you pay, the size of your down payment and the type of loan program you choose.
Home Buying
Obtaining funding is crucial to buying a home. This requires applying for a mortgage, choosing a house that meets the appraisal standards, and determining the amount of the down payment.
Loans
There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.
Moving
When making a big move, it's essential to find out as much as possible about the schools, the neighborhoods, the housing costs and the community resources.
MORE MORTGAGE ARTICLES
Second Mortgages: Advantages and Disadvantages
A second mortgage is a loan taken out against the value of your property, in addition to your primary mortgage. These loans can offer great benefits, but they certainly come attached with some large risks as well. more
What Lenders Don't Reveal About Home Equity Loans
It is important to understand the truth about home equity loans so that you don't run into future problems. Lenders may not tell you the entire story when you seek to borrow on the equity of your home. Before you consider taking this step, consider the following information about home equity loans. more
- 3 Reasons Banks Reject Short Sales
- Should You Refinance? Make Sure the Timing is Right
- 3 Warning Signs of Loan Modification Scams
- Home Equity Loans for People with Bad Credit
- Appraisal Basics
- FHA Eligibility with Bankruptcy and Foreclosure
- FHA Loans for a First-Time Home Buyer
- How to Get Approved for an FHA Loan despite Bad Credit
- What To Do When Mortgages Default
- Alternatives to Getting a 2nd Mortgage
- Short Selling a Rental Property
- 3 Common Short Sale Mistakes
- Low Down Payment Loan Qualification
- 3 Factors that Can Negatively Affect Your Mortgage Application
The Mortgage101 Blog
Mortgage Interest Rates Hit New Record Low
Interest rates on long-term mortgage loans fell to a new all-time record low this week, according to mortgage finance company Freddie Mac, as investors responded to troubling economic news. The average rate on a 30-year fixed rate loan, excluding points, dropped to 3.87 percent, the lowest rate on record in Freddie Mac’s 40-plus year mortgage survey.... more