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In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.


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.


There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.


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.


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

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

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

The Mortgage101 Blog


Federal Reserve Hints at Timing for Rate Hikes

Mortgage interest rates could see a significant increase as soon as this summer based on comments from the most recent Federal Reserve meeting. The Federal Open Market Committee issued a statement Wednesday removing the word “patient” in relation to its position on interest rates, a sign that the Fed might increase its target rate as early as the second or third quarter of this year. The Fed’s benchmark federal funds rate has been set to the range of zero to 0.25 percent since December 2008 during the financial crash. The Fed has not raised rates since the peak of the housing boom back in 2006. Since then the rock bottom Fed rate has helped keep mortgage rates near all-time lows as well. Even though the Fed hinted at a shorter time table for increasing interest rates, it was still very cautious in its language. The last time the Fed gave a similar allusion back in Jun 2013, investors immediately reacted, causing mortgage interest rates to spike more than half a percent. This time the Fed made it clear that nothing will happen until it sees “further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.” To keep investors from running wild again, the Fed’s statement  continued, “this change in the forward guidance does not indicate that the Committee has decided on the timing of the initial increase in the target range.” Federal Reserve Chair Janet Yellen added “just because we removed the word ‘patient’ from the statement doesn’t mean we’re going to be impatient.” Still while the Committee noted that “economic growth has moderated somewhat,” it did say that labor market conditions have improved on “strong job gains and a lower unemployment rate.” Household spending has risen moderately due to lower gas prices. Higher rates may be here as soon as June if employment and spending keep trending upward.     more