Homeowner
The 5/5 ARM Is an Adjustable-Rate Mortgage for the Faint of Heart
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There’s a popular new loan in town that a lot of credit unions seem to be offering known as the “5/5 ARM,” which essentially replaces the more aggressive 5/1 ARM that continues to be the mainstay at larger banks and lenders. The San Francisco Federal Credit Union offers it via their POPPYLOAN, Caliber Home Loans [&hellip

The post The 5/5 ARM Is an Adjustable-Rate Mortgage for the Faint of Heart first appeared on The Truth About Mortgage.

New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit
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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. It’s not the first time we’ve 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.

Am I Too Young For A Mortgage? Average Buyer Demographics in the US
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How old do you have to be to qualify for a mortgage in the United States? Find the answer to this and other buyer demographics here, from the experts at Homes.com.

The post Am I Too Young For A Mortgage? Average Buyer Demographics in the US appeared first on Homes.com.

Four Percent Mortgage Proposed to Solve Crisis
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As expected, the recent spike in mortgage rates has led to wild new proposals to solve the ongoing mortgage crisis. The latest proposal comes from Arizona businessman Kenneth Wm. Parker, owner of Parker Properties/Parker Development, who has introduced the so-called “4/40 for Freedom Loan.” It’s essentially a government-backed mortgage set at a four percent interest [&hellip

The post Four Percent Mortgage Proposed to Solve Crisis first appeared on The Truth About Mortgage.

FHA 203k Loan Program: The All-in-One Renovation Mortgage
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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.

FHA Short Refinance Option Coming Soon
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A new option that should be available by fall of this year will allow borrowers current on their mortgages to execute short refinances into FHA loans, assuming the original loan is not FHA-insured. In fact, the new loan must NOT be owned or guaranteed by the FHA, VA, or the USDA. So essentially only those [&hellip

The post FHA Short Refinance Option Coming Soon first appeared on The Truth About Mortgage.

Non-QRM Mortgage Rates May Be One Point Higher
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In case you haven’t heard, Congress has been hard at work setting new standards for mortgages so we don’t see another housing crisis any time soon. Specifically, they’re working on a so-called Qualified Residential Mortgage, which would be exempt from risk retention rules, meaning mortgage lenders wouldn’t have to hold on to a piece of [&hellip

The post Non-QRM Mortgage Rates May Be One Point Higher first appeared on The Truth About Mortgage.

2019 Most Family-Friendly Cities
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The Most Family-Friendly Cities of 2019 Raising a family is a significant part of most people’s lives. It means having...

The post 2019 Most Family-Friendly Cities appeared first on Homes.com.

8 Common Life Insurance Myths Debunked
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Misconceptions about life insurance make this uncomfortable subject even harder. Learn the truth here so you can make the best decision.
What Is a Mortgagee? Hint: It’s Not a Typo
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Are You a Mortgagee or Mortgagor? It’s mortgage Q&A time! Today’s question: “What is a mortgagee?” No, it’s not a typo. I didn’t leave an extra “e” on the word mortgage by mistake, though it may appear that way. Despite its striking appearance, it’s actually a completely different word, somehow, simply with the mere addition [&hellip

The post What Is a Mortgagee? Hint: It's Not a Typo first appeared on The Truth About Mortgage.

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