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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

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

3 Warning Signs of Loan Modification Scams

Loan modification has become very popular in recent years with mortgage lenders. It has been used in a variety of different ways to change the existing terms of mortgages that they hold. While sometimes loan modification can be to your advantage, many times it is not. There are many loan modification scams out there that you should be aware of. Here are a few warning signs to watch out for with loan modification. more

The Mortgage101 Blog


Mortgage Rates Stay Low As Global Markets Falter

Long-term mortgage interest rates made little movement in the latest week, according to data from mortgage giant Freddie Mac, even though foreign markets continued to scare investors, a condition that typically pushes rate down. The average rate on a 30-year fixed-rate mortgage slipped to 3.85 percent, excluding fees, during the week ended October 1, 2015, down from 3.86 percent the previous week. Compared with the year earlier, rates were down from 4.19 percent. Fifteen-year fixed-rate mortgages carried an average rate of 3.07 percent, down from 3.08 percent the week before and were down from 3.36 percent during the same week of 2014. “In contrast to the volatility in equity markets, the 10-year Treasury rate — a key driver of mortgage rates — varied just a little more than 10 basis points over the last week,” said Freddie Mac chief economist Sean Becketti. “As a result, the 30-year mortgage rate remained virtually unchanged, dropping 1 basis point to 3.85 percent. This marks the tenth consecutive week of a sub-4-percent mortgage rate. Despite persistently low mortgage rates, the pending home sales index dropped 1.4 percent in August, suggesting possible tempering in existing home sales in September.” A recent report from the National Association of Realtors showed existing homes sales fell 4.8 percent in August, the month that usually marks the end of the real estate busy season. If sales already started cooling that much in August and low rates are not a motivating factor anymore, there is certainly reason to believe sales will slow even more in September. Adjustable rate mortgages (ARMs) were completely unchanged in the latest week. Rates on 5-year Treasury-indexed hybrid ARMs held steady at 2.91 percent and one-year ARMs carried an average rate of 2.53 percent, unmoved from the previous week. more