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.
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Low Down Payment Loan Qualification
In order to qualify for a low down payment loan, you typically must have a good credit history, sufficient income for the monthly mortgage payments, and enough money for closing costs, among other things. 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
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- 3 Common Short Sale Mistakes
- How to Get Approved for an FHA Loan despite Bad Credit
- Short Selling a Rental Property
- What To Do When Mortgages Default
- Second Mortgages: Advantages and Disadvantages
- FHA Eligibility with Bankruptcy and Foreclosure
- What Lenders Don't Reveal About Home Equity Loans
- Alternatives to Getting a 2nd Mortgage
- 3 Warning Signs of Loan Modification Scams
- 3 Reasons Banks Reject Short Sales
- Appraisal Basics
- FHA Loans for a First-Time Home Buyer
The Mortgage101 Blog
Foreclosure Share of Home Sales Dwindled in Third Quarter
Foreclosed homes made up a much smaller share of total U.S. homes sales in the third quarter of 2011, according to foreclosure data company RealtyTrac, falling to 20 percent from 30 percent in the third quarter of 2010. There were 221,536 distressed properties purchased during last year’s third quarter, an 11 percent decrease from the previous... more