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.
FHA Best Mortgage Rates
Find Updated FHA Loan 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
It is possible, although difficult, to obtain home equity loans for people with bad credit. The tightening of credit requirements in the wake of the banking and credit crisis have made banks less willing to extend credit terms to borrowers with bad credit. A homeowner who has a bad credit rating will need to do a lot of work to convince a lender that he/she is creditworthy and responsible enough to obtain that loan. more
- What Lenders Don't Reveal About Home Equity Loans
- 3 Factors that Can Negatively Affect Your Mortgage Application
- How to Get Approved for an FHA Loan despite Bad Credit
- 3 Common Short Sale Mistakes
- 3 Reasons Banks Reject Short Sales
- What To Do When Mortgages Default
- Should You Refinance? Make Sure the Timing is Right
- Short Selling a Rental Property
- Appraisal Basics
- Alternatives to Getting a 2nd Mortgage
- Second Mortgages: Advantages and Disadvantages
- 3 Warning Signs of Loan Modification Scams
- FHA Eligibility with Bankruptcy and Foreclosure
- Low Down Payment Loan Qualification
These loans are insured by government-backed companies and make it more affordable for first-time homebuyers and lower income families to get into the housing market.
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.
Upbeat data from the housing market helped push long-term mortgage interest rates to the highest levels of 2015 this week, according to mortgage backer Freddie Mac. The average commitment rate on a 30-year fixed-rate conventional mortgage rose to 3.87 percent, excluding fees, during the week ended May 28, 2015, up from 3.84 percent the week before. The last time rates reached this high was the week of December 31, 2014. Still, by historical standards mortgage rates are still near their all-time lows. Rates are even significantly lower than they were a year ago at 4.12 percent. The jump in rates was a result of positive news from the housing sector which boosted investor confidence. “Mortgage rates rose to the highest level in 2015 following positive housing market data,” said Freddie Mac Deputy Chief Economist Len Kiefer. “New home sales surged 6.8 percent to an annual pace of 517,000 units in April. Although existing home sales slipped 3.3 percent to a seasonally-adjusted pace of 5.04 million units, sales are up 6.1 percent on a year-over-year basis. The S&P/Case-Shiller 20-city home price index also posted a solid gain of 5 percent over the 12-months ending in March 2015.” Even with existing home prices falling, American homebuyers were signing contracts at the fastest rates in almost nine years. Pent-up demand for housing is slowly being met by increasing inventory and the affordability of low interest rates. The average rate on a 15-year fixed-rate mortgage also rose to a yearly high of 3.11 percent, up from 3.05 percent the previous week, a rate not seen since the last week of 2014. Rates are down from a year earlier when they averaged 3.21 percent. One-year adjustable rate mortgage rates slipped, easing down to 2.50 percent from 2.51 percent the week before but were up from 2.41 percent the previous year. more