RESEARCH & LEARN

Mortgage Library


Check Local Mortgage Rates

Today's Average 3.99%
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

Home Equity Loans for People with Bad Credit

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

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

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Mortgage Rates Under 4 Percent for Second Straight Week

Long-term mortgage interest rates remained extremely affordable this week, according to mortgage giant Freddie Mac, slipping slightly from the previous week and staying under the 4 percent mark for two weeks in a row. The average interest rate on a 30-year fixed rate mortgage fell to 3.97 percent, excluding points, during the week ended November 26, 2014, down from 3.99 percent the week before and down from 4.29 percent a year ago. “Mortgage rates were little changed on the week with the 30-year fixed-rate mortgage declining to 3.97 percent,” commented Freddie Mac vice president and chief economist Frank Nothaft. “This comes during a week of uplifting economic news heading into the holiday; GDP growth was revised up in the third quarter from 3.5 percent to 3.9 percent, while existing homes sold at a 5.26 million unit pace in October, topping expectations of 5.15 million units.” Other rates showed no movement in the latest week. The 15-year fixed rate mortgage was unchanged at 3.17 percent from the previous week, although it was down from 3.30 percent the year before. The one-year adjustable rate mortgage was also unchanged in the past week at 2.44 percent. Compared with last year at this time, the rate was down from 2.60 percent. Historically low rates were not enough to increase mortgage applications during the same week, however. The Mortgage Bankers Association reported that its market composite index, a measure of total loan applications, dropped 4.3 percent in the latest week, with refinance requests falling by 4 percent and home purchase applications sinking 5 percent. Refinance requests made up 63 percent of all mortgage activity during the week. Going into a holiday weekend may have held some buyers and refinancers back, with Thanksgiving through Christmas being a traditionally slow period for mortgage applications. more