RESEARCH & LEARN

Rates


Check Local Mortgage Rates

Today's Average 4.45%
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

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

What To Do When Mortgages Default

Mortgages default every day in the world and they are just a normal part of the business for mortgage lenders. There are a certain number of mortgages that will default every year and it is planned for accordingly. While it is common business practice for lenders, it can be devastating for you individually. If you default on a mortgage, it can ruin your credit and your financial outlook for the future. Mortgage default is a major setback for you, but it is not the end of the road. If you are faced with a default on your home, you can take measures to get back in good standing with the lender. more

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Mortgage Lenders Loosened Standards in March

Good news for buyers coming into the spring home-buying season: mortgage credit is now more available that it has been in the past three years, as lenders warm up to the potential for more home loan revenue. The Mortgage Bankers Association’s Mortgage Credit Availability Index rose 0.44 percent to 114.0 in March, up from 113.5 in February. The MBA set its baseline index at 100 in March 2012. An increase in the index indicates looser credit standards. “I don’t think there’s any question that mortgage underwriting has gotten easier or is looser than it was two or three years ago, but it’s nowhere near where it was in 2005, 2006,” said Guy Cecala, publisher of the trade publication Inside Mortgage Finance in a MarketWatch article. “We are talking about easing from extremely tight underwriting standards.” Although it didn’t start tracking mortgage credit availability until 2012, the MBA estimates that in 2007 the index would have had a reading of 800. Much of the increase in availability has been to buyers in the higher price ranges, following sales patterns. The National Association of Realtors recently reported that annual sales of homes priced between $500,000 and $750,000 grew 6.4 percent and sales between $750,000 and $1 million jumped 13 percent. At the same time, however, annual sales for home priced up to $250,000 – the bulk of homes on the national market – sank seven percent. “Consistent with past months, many lenders and investors are providing borrowers seeking higher loan amounts with a broader range of financing options by introducing new jumbo loan programs. Over the month, some lenders made a complete exit from wholesale lending operations, while other lenders moved to enter that space or expanded operations,” said Mike Fratantoni, MBA’s Chief Economist in a statement. Jumbo loans are for mortgages that exceed the Freddie Mac and Fannie Mae guarantee maximums. If prices keep climbing and inventory remains restricted, lenders are likely to keep focusing on opening more credit to buyers in the higher price brackets. more