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.
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.
When you owe more on your mortgage than your home is worth and you cannot wait for the property value to rise, a short sale may be the best way to get out of your loan. Compared with losing your home to foreclosure, a short sale can offer a few advantages. more
A mortgage loan prequalification is the process of being pre-approved for a home loan prior to making the purchase. Getting a prequalification helps you understand how much house you can afford to buy and removes one of the potential barriers that may stand between you and the purchase of a home. more
Despite popular belief, mortgage loans for people with bad credit are possible. Any loan awarded to a borrower with a credit score below 600 is considered subprime. Though it can be difficult to receive a subprime loan, there are many options available for potential homebuyers with poor credit and proper steps to take. more
Obama’s Home Affordable Modification Program is reporting good news this week. In February the $75 billion program, which began last year in an effort to help struggling homeowners remain in their homes, made some great gains. Home owners who were facing foreclosure that received permanent monthly reductions in their mortgages jumped 45%. To date the... more