RESEARCH & LEARN

Rates


Check Local Mortgage Rates

Today's Average 4.25%
Mortgage Newsletter

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

Alternatives to Getting a 2nd Mortgage

There are several alternatives to getting a 2nd mortgage for homeowners who need cash. Whether a borrower wants to put their assets on the line as collateral and has good credit, there are options. A home equity line of credit is one main alternative to a 2nd mortgage. This line of credit would equal the value of the property minus the amount due on the original mortgage. more

What Lenders Don't Reveal About Home Equity Loans

It is important to understand the truth about home equity loans so that you don't run into future problems. Lenders may not tell you the entire story when you seek to borrow on the equity of your home. Before you consider taking this step, consider the following information about home equity loans. more

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Lenders Step In For Secondary Market on Jumbo Loans

Most mortgage banks and lenders traditionally prefer to sell off any home loans they make to the secondary market as soon as they make them. But for one segment of the market – the jumbo loan – lenders are having a change of heart. The secondary market – investors who buy up securities made of mortgages that have been originate by banks and bundled together in groups – has only been able to purchase 2.3 percent of all jumbo loans made in the first half of 2014, according to industry newsletter Inside Mortgage Finance. When compared with the 49.3 percent of jumbo loans in 2005 that were securitized, you have to ask yourself why. For starters, mortgage loan standards have been severely restricted since the housing collapse six years ago. It has been much tougher for those with small down payments or less-than-perfect credit histories to obtain home loan financing. On the other hand, those seeking jumbo loans – mortgages over $417,000 in most of the country and $625,500 in the nation’s priciest areas – typically have very large down payments and great credit as well. These loans are viewed as safe bets and have become a highly desired commodity for banks and investors alike. Because these are the least risky mortgages and because the jumbo loan market is booming right now, many lenders are deciding to hold these loans on their books instead of selling them off. The lenders are making more money from those jumbo loans with annual interest rates of roughly 4.2 percent whereas the savings account rate is only around 1 percent a year these days. And the changes in the market are turning into benefits for jumbo borrowers as well. Lenders who plan to keep the loans themselves can usually offer better interest rates or more attractive loan terms. Says Guy Cecala, Inside Mortgage Finance CEO and publisher, “The case could be made that borrowers are better off without a mortgage-backed securities program than they were before,” he says. more