More good newsâ¦for loan originators.Â The Mortgage Bankers Association increased its 2009 mortgage lending forecast by $800 billion to $2.78 trillion thanks to the expected refinance bonanza. The group now expects refinancing to total $1.96 trillion in 2009 and purchase originations to ring in at $821 billion. The refinance figure is up from an estimated [&hellip
The post MBA Ups 2009 Mortgage Forecast by 0 Billion 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.
Home Partners of America and New Penn Financial have joined forces to offer renters the ability to get a mortgage with as little as their security deposit. The joint venture aims to alleviate one of the main obstacles to owning a home, the down payment. Itâs not the first time weâve seen this in recent [&hellip
The post New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit first appeared on The Truth About Mortgage.
When it comes to taking out a mortgage, many buyers, especially first-time borrowers, expect it to be an intimidating experience....
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We all know mortgage rates are low, but this is seemingly ridiculous. The New Hampshire Housing Finance Authority is currently offering a mortgage rate as low as 3.25% on a 30-year fixed-rate mortgage. And thatâs with as little as 3.5% down (FHA loan). Of course, there are several strings attached. There are income and purchase [&hellip
The post Now You Can Get a 30-Year Fixed at 3.25% first appeared on The Truth About Mortgage.
Well, itâs a new year, and with that comes new and exciting home loan programs to help borrowers purchase homes or refinance existing mortgages. The newest one comes courtesy of Guaranteed Rate, which launched its âGR Flex Powerâ mortgage that requires as little as 10% down on loan amounts as high as $3 million. Additionally, [&hellip
The post Guaranteed Rate Launches New Jumbo Loan with Interest-Only Option first appeared on The Truth About Mortgage.
In a nutshell, the FHA 203k loan program allows prospective home buyers to finance the cost of a property and improvements in one convenient mortgage. Instead of buying a fixer-upper, taking out a mortgage, and then later taking out a home equity line or executing a cash out refinance to fund necessary improvements, home buyers [&hellip
The post FHA 203k Loan Program: The All-in-One Renovation Mortgage first appeared on The Truth About Mortgage.