What Are Typical Mortgage Down Payments?
Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more
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Applying for a Mortgage after a Bankruptcy
Qualifying for a home mortgage with a bankruptcy on your credit history requires time and money. Yet by understanding the requirements to get a mortgage after a bankruptcy and by carefully rebuilding your credit standing, you can apply for a loan and buy a home.
Your Credit Score
The three main U.S. credit bureaus--Equifax, Experian and TransUnion--maintain your credit history. Using that history, plus its own proprietary equation, the Fair Isaac Corp. calculates your FICO credit score somewhere between 850 and 300 points. Anything above 700 points is good to excellent, with... more
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Mortgages
In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.
Rates
Mortgage interest rates are determined by credit history strength, the number of points you pay, the size of your down payment and the type of loan program you choose.
Home Buying
Obtaining funding is crucial to buying a home. This requires applying for a mortgage, choosing a house that meets the appraisal standards, and determining the amount of the down payment.
Loans
There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.
Moving
When making a big move, it's essential to find out as much as possible about the schools, the neighborhoods, the housing costs and the community resources.
MORE MORTGAGE ARTICLES
How to Get Approved for an FHA Loan despite Bad Credit
FHA (Federal Housing Administration) loans are very flexible, and you may qualify for an FHA loan with bad credit. more
Alternatives to Getting a 2nd Mortgage
There are several alternatives to getting a 2nd mortgage for homeowners who need cash. Whether a borrower wants to put their assets on the line as collateral and has good credit, there are options. A home equity line of credit is one main alternative to a 2nd mortgage. This line of credit would equal the value of the property minus the amount due on the original mortgage. more
- FHA Eligibility with Bankruptcy and Foreclosure
- Appraisal Basics
- Short Selling a Rental Property
- What To Do When Mortgages Default
- 3 Factors that Can Negatively Affect Your Mortgage Application
- What Lenders Don't Reveal About Home Equity Loans
- 3 Common Short Sale Mistakes
- Should You Refinance? Make Sure the Timing is Right
- 3 Reasons Banks Reject Short Sales
- 3 Warning Signs of Loan Modification Scams
- Home Equity Loans for People with Bad Credit
- Second Mortgages: Advantages and Disadvantages
- FHA Loans for a First-Time Home Buyer
- Low Down Payment Loan Qualification
The Mortgage101 Blog
FHA Accused of Taking on Too Much Mortgage Risk
During the housing boom, mortgage lenders lowered their lending standards, allowing borrowers with little or no down payments and even undocumented income to buy homes they otherwise couldn’t afford. Now some are wondering if the U.S. Federal Housing Authority is being just as reckless. The FHA, a popular backer with first-time and lower-income buyers, currently allows... more