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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Alternatives to Getting a 2nd Mortgage
There are several alternatives to getting a 2nd mortgage for homeowners who need cash. Whether a borrower wants to put their assets on the line as collateral and has good credit, there are options. A home equity line of credit is one main alternative to a 2nd mortgage. This line of credit would equal the value of the property minus the amount due on the original mortgage. more
What To Do When Mortgages Default
Mortgages default every day in the world and they are just a normal part of the business for mortgage lenders. There are a certain number of mortgages that will default every year and it is planned for accordingly. While it is common business practice for lenders, it can be devastating for you individually. If you default on a mortgage, it can ruin your credit and your financial outlook for the future. Mortgage default is a major setback for you, but it is not the end of the road. If you are faced with a default on your home, you can take measures to get back in good standing with the lender. more
- Home Equity Loans for People with Bad Credit
- FHA Loans for a First-Time Home Buyer
- Should You Refinance? Make Sure the Timing is Right
- Short Selling a Rental Property
- FHA Eligibility with Bankruptcy and Foreclosure
- 3 Warning Signs of Loan Modification Scams
- Low Down Payment Loan Qualification
- What Lenders Don't Reveal About Home Equity Loans
- How to Get Approved for an FHA Loan despite Bad Credit
- Second Mortgages: Advantages and Disadvantages
- Appraisal Basics
- 3 Factors that Can Negatively Affect Your Mortgage Application
- 3 Reasons Banks Reject Short Sales
- 3 Common Short Sale Mistakes
The Mortgage101 Blog
Foreclosures Rise Even As Housing Market Heats Up
The number of homes repossessed by lenders rose in May, according to foreclosure data company RealtyTrac, as did foreclosure starts and filings, an indication that banks want to take advantage of rising home prices to push out their inventory. In May, bank repossessions grew to 39,000, up 11 percent from April, with 33 states posting... more