Itâs time for another match-up, this time weâll compare buying a new home versus purchasing an old one. For the record, some home builders refer to existing homes as âused,â which sounds kind of silly considering we’re talking about a house and not a car. Ultimately, it’s a marketing gimmick to sway you toward buying [&hellip
The post Should You Buy a New Home or an Old Home? first appeared on The Truth About Mortgage.
Thereâs nothing inherently wrong with living with your parents, other than EVERYTHING! So letâs talk about how to GET OUT! To be clear, Iâm going to discuss moving out and buying a place of your own, not moving out and renting, seeing that the latter is fairly self-explanatory. The desire to move out might be [&hellip
The post How to Move Out of Your Parents House first appeared on The Truth About Mortgage.
Mortgage agency’s head of government affairs explains why a clarification could open up access Source: mpamag.com
Itâs time for another mortgage match-up folks. Today, weâll look at 10-year mortgages versus the 30-year fixed mortgage to see how these home loans stack up against one another. Before we get started, itâs important to note that there are two very different types of 10-year mortgages out there. One a fixed-rate mortgage that is [&hellip
The post 10-Year Mortgages vs. the 30-Year Fixed: Which Is Better? first appeared on The Truth About Mortgage.
Similar to the increased waiting times to get a COVID-19 test these days, itâs taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip
The post Itâs Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.
Mortgage Q&A: âDoes a refinance require an appraisal?â A reader recently asked if they needed an appraisal to refinance their existing mortgage, knowing they can often add weeks to the loan process. As with anything in the mortgage realm, the answer is it depends. Mainly, it depends on the type of loan you plan to [&hellip
The post Does a Refinance Require an Appraisal? first appeared on The Truth About Mortgage.
Second-largest US nonbank retail lender inks multi-year agreement Source: mpamag.com
File this one under âno correlation,â despite a flood of news articles claiming the Fed’s rate cut directly impacts mortgage rates. Today, the Fed cut the federal funds rate by half a percentage point to a range of 1-1.25% due to the uncertainty surrounding the coronavirus, this despite a strong U.S. economy. That sent mortgage [&hellip
The post Mortgage Rates vs. Fed Announcements first appeared on The Truth About Mortgage.
If youâve yet to enter the housing market, but are thinking of buying a home in 2021, thereâs a lot you need to know. As I once pointed out, this isnât your older siblingâs housing market. Not just anyone can get a mortgage these days. You actually have to qualify. But weâll get to that [&hellip
The post Buying a Home in 2021? 11 Tips to Get It Done! first appeared on The Truth About Mortgage.
Mortgage rate Q&A: âWhy are mortgage rates different?â Why is the sky blue? Why are clouds white? Why won’t your neighbor trim their tree branches? These are all good questions, and ones that often puzzle even the most savvy of human beings. First things first, take a look at how mortgage rates are determined to [&hellip
The post Why Are Mortgage Rates Different? first appeared on The Truth About Mortgage.