RESEARCH & LEARN

Mortgage Library


Check Local Mortgage Rates

Today's Average 4.19%
Mortgage Newsletter

Featured Article

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

Learn More About...

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

How to Get Approved for an FHA Loan despite Bad Credit

FHA (Federal Housing Administration) loans are very flexible, and you may qualify for an FHA loan with bad credit. more

Appraisal Basics

A real estate appraisal is an evaluation that determines the value of a property. There can be many different reasons for having an appraisal conducted, but one of the most common purposes is to determine the market value of a house before a mortgage transaction. more

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Mortgage Rates End July Where They Started

The average rate on long-term U.S. mortgage loans at the end of July fell back to its original level from the beginning of the month, according to mortgage finance giant Freddie Mac, but rates could start to pick up next week. The 30-year conventional fixed-rate mortgage carried an average rate of 4.12 percent, excluding points, during the week ended July 31, down slightly from 4.13 percent the previous week. The rates is lower than last year’s 4.39 percent. Rates made little movement overall during July, only inching up to 4.15 percent in the second week, but still remaining very near their yearly lows. The 15-year fixed-rate mortgage fell to 3.23 percent from 3.26 percent the week before and the one-year adjustable rate mortgage dipped to 2.38 percent from 2.39 percent. Mortgage interest rates have declined since January, when the 30-year started the year at 4.53 percent. Even though the Federal Reserve has begun tapering its stimulus program, rates have not seen much upward pressure at all. The Fed announced Wednesday that it does not yet want to raise its own target interest rate because of economic concerns but they planned to continue to cut back on their mortgage bond purchases. Going from $35 billion a month to $25 billion now. Wednesday also brought some news however, that might finally push home loan rates up. GDP jumped to an annualized rate of 4.0 percent in the second quarter, well above market expectations. That kind of unanticipated growth could encourage investors to venture out more, decreasing the demand for Treasury bonds and pushing mortgage rates higher. Still, it is unlikely that rates will grow at breakneck speed. Most economists are still predicting that rates will barely reach 5 percent by the end of the year, maintaining a high level of affordability for home buyers. more