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Looking to Get a Mortgage in 2017? Here’s What You Need to Know

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The mortgage industry has gone through some changes in the last three months. If you are looking to finance a home in 2017, it is important that you know what the opportunities are and how to capitalize on them. Over the next 12 months, here are some things to keep in mind as you consider your financing. Interest rates have spiked and are now sitting at over 4% on the widely popular 30-year fixed-rate mortgages. This […]

  • Scam Alert

    Beware: Scammers May Be Posing as Your RealtorMortgages, Consumer Protection

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    There’s a scam afoot, or, shall we say, a-wire that prospective homebuyers may want to be on the lookout for, and it happens like this: You’re nosing around the real estate market — maybe even close to buying a house or piece of property. And then you get a message from your real estate agent urging you to wire money to secure the deal. As you might have guessed, a scammer is spoofing your real estate agent’s account […]

  • Housing wealth

    How Much House Do Americans Actually Own?Mortgages

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    When people say they own their home, it’s usually a half-truth at best. Often, a bank owns the home they live in — most of it, anyway. Still, Americans have a lot of real money tied up in their homes — on average, $150,506, according to a new report by the Urban Institute called “How Much House Do Americans Really own? Measuring America’s Accessible Housing Wealth by Geography and Age.” That amount represents what’s left over […]

  • mortgage

    3 Things That Will Sabotage Your Plans to Buy a HouseMortgages

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    No one wants money to stand in the way when their heart is set on owning a home. But all too often borrowers pull last-minute moves that put their financing in jeopardy. “The events that can endanger the transaction are the kinds that happen at the last minute,” according to Joe Parsons, senior loan officer with PFS Funding in Dublin, California, “for example, an unidentified or unsourced deposit made two days before escrow that we […]

  • Housing wealth

    When’s the Best Time to Sell Your House?Mortgages, Personal Finance

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    If you’re looking to sell your home, you may want to wait until the spring or summer months set in. Sure, that may not sound like the best use of the nice weather, but putting any travel on hold as you try to relocate could prove worthwhile. The best time to sell is generally anytime between mid-April and October 1, said Scott Sheldon, a senior loan officer at Sonoma County Mortgages, in California, and a Credit.com contributor. “The weather is nice. People […]

  • Home buying

    Remember: Keep Your Tax Returns If You’re Looking to Buy a HomeMortgages, Personal Finance

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    If you were planning to buy a home or refinance one you already own, you can expect to encounter a lot of paperwork. But here’s one thing you probably didn’t know: Tax returns aren’t always required. If you are a W-2 wage earner, there is a smaller chance you’ll need to provide tax returns than if you’re self-employed. If you’re self-employed, the only way a lender can determine your income is by examining your tax […]

  • Fleeing

    There Are Already Realtors Offering to Sell Your Home if Trump Becomes PresidentMortgages, Humor

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    Disgruntled Americans of all political leanings have said it: “I’m moving to Canada.” The Great White North particularly appeals to those left-of-center, as many liberal Americans are practically drooling with envy over the new Prime Minister, Justin Trudeau, in addition to some public policies they would like to see emulated in the U.S. Let’s set aside, for the moment, the fact that immigrating to another country is a complicated and expensive endeavor. If Donald Trump is elected […]

  • Couple Mortgage

    Why You Might Not Want Your Spouse on Your MortgageMortgages, Personal Finance

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    Couples may be inclined to buy a new home together — and, if necessary, apply for a home loan — but new data suggest you ought to think twice before saying “I do” to joint mortgages. In fact, according to a note from the Federal Reserve, some borrowers could have saved a lot of money in interest if they’d applied solo. “Specifically, we find that nearly 10% of prime borrowers who applied for their loans jointly could have lowered their mortgage interest rate at […]

  • Affordable Housing

    The U.S. Cities That Are About to Become UnaffordableMortgages, Personal Finance

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    When you hear affordable cities, there are four that should be familiar to you now: Cincinnati, Charlotte, Pittsburgh, Omaha. But here’s a list of U.S. cities that are rapidly becoming less affordable: Cincinnati, Charlotte, Pittsburgh, Omaha. In other words, the secret is out. The good news is, many of these places are still affordable — for now. The bad news is that time might be running out. Data crunchers at RealtyTrac have supplied Credit.com with information on […]

  • Homeowners

    6 Things You Need to Investigate Before You Buy a HouseMortgages, Personal Finance

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    If you’re in the market to buy a house, you already know you need a real estate agent, a mortgage lender, a down payment and, well, a house to buy. While finding the right house can be a tough but exciting challenge, it can also be full of heartbreak. You might find a beautiful home, but, surprise, it needs a lot of expensive work you didn’t initially see — a new roof, a new furnace or a tall fence since […]

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