Mortgage and Real Estate Articles from Mortgage Research Center
6 days ago · On Halloween 1981, mortgage rates hit 18% and the typical house payment ate up 73% of a family's paycheck. by Tim Lucas in Real Estate. October 23, 2024 14 MIN.
Mortgage Rates Today, Nov. 13, 2024: Today's Big Inflation Report …
13 hours ago · November 13, 2024, 9:30 AM UTC 3 MIN. The average 30-year fixed rate mortgage was 6.85% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 5.9%, the same as one the day before. The 30-year FHA mortgage averaged 6.04% yesterday, having dropped by 0.11.
What Is a Mortgage and What Can It Do for You? - Mortgage …
Jun 17, 2024 · Mortgages are secured by the underlying piece of real estate. If a borrower fails to make their payments, the lender can take legal action to gain ownership of the property. They can then sell it to recoup their losses. Without a mortgage, buying a home would require you to save up the entire purchase price.
Home Loans Articles | Mortgage Research Center
Oct 30, 2024 · USDA Construction Loans: A Comprehensive Guide for 2024. This comprehensive guide to USDA construction loans will go over everything you need to know about financing your rural home build in 2024, including precisely how a USDA one-time construction loan works, the eligibility requirements you need to meet, and a few alternative mortgage ...
Conventional Loan Refinance Guidelines for 2024 - Mortgage …
Mar 1, 2024 · 25%. *to refinance with 3% equity, your current mortgage must be owned or securitized by Fannie Mae or Freddie Mac. Otherwise, a minimum of 5% equity is required. Also remember that if you’re doing a conventional loan refinance with less than 20% equity, you’ll be required to pay for private mortgage insurance.
FHA Streamline Refinance: 2024 Guidelines and Loan Requirements
Feb 7, 2024 · Although most applicants won't encounter credit score or income requirements, there are still some guidelines that you'll need to meet to be eligible for an FHA streamline refinance. Specifically, your existing mortgage must: Be an FHA loan. Be current on its payments. Have been opened at least six months ago.
Getting a Mortgage at Any Age: Applicants 70+ Receive 5% of …
January 28, 2024, 11:56 PM UTC 4 MIN. More than 5% of mortgage loan dollar volume went to applicants over 70 years old in the third quarter of 2023, says the New York Federal Reserve. Some of this volume can be attributed to the popular reverse mortgage program, which eliminates a qualifying homeowner’s payment for life if they are 62 or older.
Calculators - Mortgage Research Center
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Rates Articles - Mortgage Research Center
Mortgage Rates Report and Outlook, July 1, 2024 — Jobs Report Week. Arguable the most influential economic report comes out Friday. A downbeat report could help mortgage rates, since weaker jobs data gives the Fed stable ground on which to …
20 Tips to Get Lower Refinance Rates - Mortgage Research Center
Feb 26, 2024 · Lower your rate. Change your loan term. Get rid of mortgage insurance. Switch from an adjustable to a fixed rate (or vice-versa) Fund home improvements and renovations. Consolidate other high-interest debt. Pay off a HELOC or other second mortgage. Purchasing a second home or investment property. 2.