Term: Mortgage
30 found

First-Time Homebuyers Getting Serious About Buying a Home

By Steven Shaw on 7/20/2015

First-Time Homebuyers Getting Serious About Buying a Home

More than half of millennials (52%) who think they’ll buy their first home in the next five years say debt is keeping them from purchasing a house, according to a survey from TD Bank. An even larger portion (70%) say they need to save more for a down payment. Yet these aspiring homeowners are optimistic, with two-thirds of them expecting to buy within the next two years.

First-Time Homebuyers
Home Loan
Homebuying
millennials
Mortgage

Is Your Credit Keeping You From Buying a Home? You’re Not Alone.

By Steven Shaw on 5/29/2015

2 Strategies for Buying a Home When You're In Debt

For most of us, buying a home is both exciting and scary. It’s a big purchase, often financed for many years, and no one wants to make a mistake. But many homebuyers are delaying the big jump into homeownership because of one thing — their credit scores.For most of us, buying a home is both exciting and scary. It’s a big purchase, often financed for many years, and no one wants to make a mistake. But many homebuyers are delaying the big jump into homeownership because of one thing — their credit scores.

credit report
credit score
Home Loan
Mortgage

A Guide to Getting a Mortgage After You’ve Had a Loan Modification

By Steven Shaw on 4/29/2015

A Guide to Getting a Mortgage After You've Had a Loan Modification

If you had a mortgage just a few years ago, fell on hard economic times or were offered a mortgage loan modification by your loan servicer and you’re looking to apply for a new mortgage loan, you’ll need to meet certain credit requirements to get a green light on a new loan. Here’s what you need to know.

Home Loan
Mortgage
Mortgage Loan Modification

Boomerang Buyers: Is There Homeownership After Foreclosure?

By Steven Shaw on 4/24/2015

Boomerang Buyers: Is There Homeownership After Foreclosure?

Roughly 7 million Americans lost their homes during the Great Recession. Now, seven years on, the first wave of those consumers might be ready to dip their toes back into the housing market, as their credit reports are finally clean of that negative entry. The group has been dubbed “boomerang buyers.” There’s disagreement about how many of this group will — or already have — decided to take the plunge back into homeownership, and how much that might help the economy. But it’s possible the boomerang group could suffer from being once bitten, twice shy as they weigh their new options.

Foreclosed Home
Foreclosure
Home Loan
Mortgage

The One Graph That Explains Why a Good FICO Score Matters for Homebuyers

By Steven Shaw on 4/17/2015

The One Graph That Explains Why a Good FICO Score Matters for Homebuyers

When it comes to buying a home, there’s a lot more to the process than just finding an affordable home for sale and having enough money for a down payment. Most people need loans to finance such a large purchase, but even as the housing market has rebounded from the foreclosure crisis and low property values of 2010, mortgages remain very difficult to acquire. A report from the Urban Institute, a Washington-based economic-policy research group, concludes that 1.25 million more mortgages could have been made in 2013 on the basis of conservative lending standards practiced in 2001, years before the housing bubble began to inflate.

credit score
FICO Score
Home Loan
home loans
Mortgage

6 Fees to Look Out for When Buying a Home

By Steven Shaw on 3/25/2015

6 Fees to Look Out for When Applying for a Mortgage

Let’s cut to the chase. Obtaining a mortgage to buy a home, or to refinance one you already own, is not cheap. No two ways about it, acquiring property is going to cost you some bucks. However, knowing ahead of time what fees lenders charge — including both upfront and later in the transaction — can help ensure you’re getting a fair and competitive loan offer.

Application Fee
Appraisal Fee
Discount Fee
Home Loan
Lender Credit
Lock Fee
Mortgage
Origination Fee

The Ultimate Bootcamp for Homebuyers

By Steven Shaw on 3/24/2015

The One-Year Bootcamp to Becoming a Homeowner

Becoming a homeowner is more than a big decision — it’s a journey. And just like you wouldn’t leave for a trip without making sure you’ve packed all your bags, you shouldn’t embark on the road to homeownership without preparing for the possible twists and turns ahead.

Home Loan
homebuying process
Mortgage

Is Your Mortgage Going to Hurt Your Credit?

By Steven Shaw on 3/12/2015

Is Your Mortgage Going to Hurt Your Credit?

There’s a misconception that applying for a mortgage causes your credit score to drop each time, but that’s not actually the case. The sole act of having your credit report pulled when submitting a loan application does not instantly cause a reduction in your credit score, but it will impact you eventually. Here’s the deal …

credit
Home Loan
Mortgage

Think You Can’t Afford to Buy a Home? Think Again

By Steven Shaw on 12/10/2014

How You Could Be Underestimating Your Homebuying Chances

Did you have a bad credit event in recent years? Do you have less than two years in the same career field? Is your monthly income less than three times your proposed payment? Fear not, when your financial picture doesn’t fit neatly into the box, you may still qualify with some lenders. Here’s how.

Assets
credit
Debt
Home Loan
Income
Mortgage

Can I Actually Rent-to-Own a Home?

By Steven Shaw on 9/17/2014

Can I Actually Rent-to-Own a Home?

 In today’s economy, there are many people who would like to become homeowners but lack the means to do so. For them, a rent-to-own arrangement can appear to be an attractive option. But how do these arrangements work and what are the potential shortcomings?

lease-with-option-to-buy
Mortgage
Rent-to-Own a Home