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
There are three basic types of FHA refinance loans, each catering to three basic types of borrowers. more
Understanding how 80/20 loans work can be useful to certain borrowers who are looking for home ownership. 80/20 loans allow a borrower to make a loan backed up by a second one in order to cover the cost of the mortgage. This allows the borrower to meet the required 20 percent down payment necessary to avoid having to purchase primary mortgage insurance (PMI). more
Representative Barney Frank (D-Mass), chairman of the House Financial Service Committee, sent a letter of petition to the country’s top 4 banks this week demanding they take steps immediately to write down second mortgages. The letter sent to bank CEO’s at Bank of America, Citigroup, JP Morgan Chase and Wells Fargo asked for the... more