Some people assume they donât need to worry about their credit score because they plan to live their lives debt-free. While itâs certainly possible to get through life without using credit, there are many âhiddenâ…
The post 5 Ways Your Credit Score Can Affect Your Life appeared first on Crediful.
With home prices (and interest rates) on the rise, itâs getting more and more difficult to qualify for a mortgage. One simple strategy you can employ to boost your purchasing power is to pay down existing debts. Iâve already warned prospective mortgage applicants to avoid swiping their credit cards before and during the mortgage process, [&hellip
The post Pay Down Your Debts Before You Apply for a Mortgage to Increase Purchasing Power first appeared on The Truth About Mortgage.
Back in 2013, FHA home loans became a lot less attractive because most newly originated mortgages required mortgage insurance to be paid for the entire life of the loan. Instead of paying mortgage insurance premiums for say 5-10 years, or until the loan-to-value (LTV) fell to 78%, many new FHA borrowers were stuck paying the [&hellip
The post New Bill Aims to End FHA Mortgage Insurance Premiums for Life Policy first appeared on The Truth About Mortgage.
Flagstar Bank is the latest mortgage lender to offer a home loan with zero down payment requirement. They even go a step further by offering to pay the borrowerâs closing costs too. Sounds pretty sweet, doesn’t it? Unfortunately, the new loan program is only available to select borrowers in the state of Michigan, where most [&hellip
The post Flagstar Offering Zero Down Mortgages to Michigan Home Buyers first appeared on The Truth About Mortgage.
The National Association of Realtors just released its 2017 Profile of Home Buyers and Sellers, and there are lots of interesting tidbits. Letâs explore 10 of them. 88% of Recent Buyers Financed Their Home Purchase First things first, an overwhelming share of recent home buyers used a mortgage to finance their home purchase, as opposed [&hellip
The post 10 Takeaways from the Annual Realtor Survey first appeared on The Truth About Mortgage.
Weâve heard it for years now â that itâs a sellerâs market. And itâs hard to argue that fact with home prices hitting new nominal highs in many states across the nation, month after month. If you’re a seller these days, it shouldnât take long to offload your home for a record price if you [&hellip
The post Is It Really Such a Great Time to Sell a House? first appeared on The Truth About Mortgage.
About a month ago, I discussed whether mortgage rates could drop any lower. At that time, the en vogue 30-year fixed-rate mortgage averaged 4.32%, per Freddie Mac data. Today, expectedly, it hit a fresh all-time low, falling to 4.12%. Freddie attributed it to âmarket concerns over Eurozone sovereign debt default and a weak U.S. employment [&hellip
The post Mortgage Rates Lowest Ever, Woo. first appeared on The Truth About Mortgage.
If youâre a doctor, or even a resident, or even a veterinarian, getting a mortgage can be a little bit easier thanks to so-called physician mortgages offered by most major lenders. Just about every bank offers a special mortgage program for doctors, including large commercial banks like Bank of America and small local credit unions. [&hellip
The post Mortgages for Doctors: Expanded LTVs and Large Loan Amounts first appeared on The Truth About Mortgage.