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Home Mortgage News

How Do Historic Low Interest Rates Sound?

Interest Rates Continue to Fall as Buyers Flock to the Improving Real Estate Market In case you missed it, the Federal Reserve Board announced last week that they would be infusing $40,000,000,000 (billion) more into mortgage backed securities on a MONTHLY basis. The immediate effect on rates was dramatic and there is potential for more […]

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Home Mortgage News

How Soon Can I Purchase After a Short Sale?

About Short Sales The facts about how long buyers must wait before obtaining financing. A common question home buyers have today is: How long must I wait before obtaining financing after a short sale? Below is an overview by loan type of this important information. It depends on the loan you want to get to […]

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Home Mortgage News

Mortgage Rates Drop After Fed Announcement

Mortgage rates abruptly dropped last week after the Fed unveiled a third round of large-scale asset purchases known as quantitative easing or QE3.  Although the dollar amounts announced today are smaller than QE1 and QE2, the Fed deviated from past easing announcements and opted for open-ended buying this time.  Not only that, but the buying […]

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Home Mortgage News

How Much Can I Buy with an FHA Loan

If you looking to purchase a home using an FHA (Federal Housing Administration) loan because you are looking to put a lower down payment, there are limits on how much you can buy. As you probably already know the minimum down payment needed for an FHA loan is 3.5 percent. Depending on the county you […]

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Home Mortgage News

Should You Get a 15 Year Mortgage?

There are several reasons why a 15 year mortgage would be attractive. Of course, you pay off the mortgage in half the time. You get a lower interest rate which is always good. After you pay off your home, you can set aside the extra cash into savings or other investments. But is it right for […]

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Home Mortgage News

Do You Think It's Harder to Get a Home Loan?

Banks Tighten Standards For Real Estate Loans The preliminary results of C.A.R.’s June 2012 Broker Confidence Survey indicate that bank lending standards have not eased recently. When asked how underwriting standards in May compared to the prior six months, the majority of brokers indicated that access to credit was harder for clients (39 percent) or unchanged (44 percent); only 17 percent […]