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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

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

3 Factors that Can Negatively Affect Your Mortgage Application

Many factors can affect your mortgage application and get you denied. Know what factors will hurt you and plan ahead so you can present the best financial picture to the lender. more

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Mortgage Delinquencies Plummet in First Quarter

Homeowners have done a remarkable job of getting and staying current on their mortgage loans in the past year, according to a new report from the Office of the Comptroller of the Currency (OCC), an indication of the improving health of the U.S. economy. The OCC Mortgage Metrics Report  found that in the 2015 first quarter, only 1.9 percent of all mortgages were 30 to 59 days late, 7.0 percent drop from the previous year. And seriously delinquent loans made an even dramatic fall, decreasing to just 2.6 percent of all loans, down 16.4 percent from the first quarter of 2014. The number of foreclosures also recovered significantly in the latest year. The OCC report stated that there were 299,424 mortgages in the foreclosure process by the end of the first quarter, a30.8 percent decline. Overall those foreclosures made up 1.3 percent of all mortgages. New foreclosures, those begun in the 2015 first quarter, fell to 83,058, sinking 8.6 percent from a year earlier. The number of completed foreclosures dropped to 38,509, a 31.5 percent decline from the 2014 first quarter. Mortgage modifications and refinances accounted for some of the drop in foreclosures. The OCC reported that there were 188,816 home retention actions during the first quarter. That actually represented a large decrease – 20.6 percent – from the year before. Fewer modifications were needed as rising home prices helped struggling homeowners regain equity and avoid foreclosure. A strengthened jobs market also helped borrowers have more income to stay current on their mortgages. As long as the economy continues to brighten, foreclosures and delinquencies will likely continue to fall. more

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