The average U.S. rate for a 30-year fixed mortgage rose from 3.82% to 3.84% this week according to the latest Freddie Mac Primary Mortgage Market Survey. Interest rates are still significantly lower than last year compared to 4.57% in June of 2018. And in December [...]
A 20-percent down payment on a house is a lot of money, no question about it. Do you know how long it takes for an average American to save for a 20% down payment? The 2019 Home Affordability Report from co-investment firm Unison found that [...]
The MSHDA MI Home Loan program is a popular mortgage product that has been helping many people pursue their dream of home ownership by offering $7,500.00 in down payment assistance. First, what are some of the requirements for a MSHDA Loan? Minimum credit score of [...]
A recent study from Trulia indicates that more and more baby boomers are saying no to downsizing and staying in the home where they hold so many family memories. “We’re just not seeing that much downsizing,” says Alexandra Lee, a housing data analyst at Trulia, [...]
If you are shopping for a home in 2019, you're probably aware of how competitive the market is for buyers. This is especially true during spring and summer months as buyers find themselves in many multi-bid situations. This is all the more reason to be [...]
Saving for a down payment can seem overwhelming especially if you are already on a tight budget. Where will your savings come from? You could pick up some extra hours at work or even change jobs for a pay increase. But there are also little [...]
Have you ever wondered why there are several versions of your credit score? Maybe you obtained a free credit report only to find that your mortgage lender came up with a completely different score. How can this be? This is because not all credit reporting [...]
There has been a housing shortage for awhile now, leaving a less than ideal market for millennials and first time home buyers. But Fannie Mae predicts as baby boomers begin to downsize or move into senior care facilities, more housing will be available and prices [...]
Working on a self-employed basis has its pros and cons. One problem that self-employed workers face is getting approved for a mortgage. Common Roadblocks for Self Employed Workers Debt-to-Income Ratio - Debt-to-Income Ratio is the measurement of your total debt compared to your income. This [...]
Most next-home buyers feel more confident with purchasing their second home than they did buying their first. Just like many other first experiences, they have learned from their mistakes as a first-time buyer. In a survey conducted in March for Mr Cooper, Researchscape International found [...]
