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ByAlex Carlucci
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Lenders base each borrower’s credit scores as well as other risk factors when determining mortgage rates. The higher the risk of a borrower, the higher the rate. It is best for each borrower to maximize their credit scores and other layered risks to get the best mortgage rates.
ByAlex Carlucci
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Rumors are flying about a possible housing bubble in the US. Are they based in fact, or is this wishful thinking on the part of frustrated would-be buyers?
ByGustan Cho
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This guide covers understanding FHA mortgage rates on purchase and refinance transactions. FHA loans are the most popular mortgage program in the United States. More and more homebuyers use FHA mortgages to purchase their homes. This especially holds true for first-time homebuyers and borrowers with less than perfect credit. HUD, the parent of the Federal…
ByGustan Cho
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In this blog, we will discuss and cover shopping for mortgage with poor credit and low credit scores. Shopping for a mortgage is somewhat different than shopping for other goods and services. Home Buyers are limited when Shopping For Mortgage With Poor Credit and lower credit scores. Buyers with higher credit scores have advantages over…
ByDale Elenteny
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Homeowners should explore how much money they can save with today’s historic low mortgage rates to refinance their home loans.
ByGustan Cho
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Your mortgage lender checks your credit when you apply for a home loan. Your credit score determines your mortgage rate and also if you qualify for a loan.
ByAlex Carlucci
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This guide covers understanding the basics on what is a mortgage. We will cover and discuss the meaning of what is a mortgage. Unless you are thinking about buying a new home or are a homeowner thinking about refinancing, most Americans really do not care to know the basic understanding of mortgages. Many folks think…
ByGustan Cho
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In this blog, we will cover what a 3-2-1 buydown mortgage is. We will also discuss the differences between a 3-2-1 buydown mortgage versus what is the qualifying mortgage interest rate on a 2-1 buydown mortgage. Home prices are still at an all-time high, with mortgage rates north of seven percent. The current mortgage market…
ByRonda Butts
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This guide will cover the Texas housing market forecast for 2023 going into 2024. The Texas housing market is booming despite mortgage rates surging past 7% in a volatile economy. If you’re considering moving to Texas, you’re not alone. The Lone Star State is one of the fastest-growing states in the country, and its cities…
ByGustan Cho
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This guide covers mortgage rates on non-QM loans and no-doc mortgages. Current Home Mortgage Rates after the election of President Donald Trump has been increased to an all-time high since 2008. Rates on conventional loans are in the 5.0% range for prime borrowers. Jumbo mortgage rates for prime borrowers are nearing 6% and many times…
ByAlex Carlucci
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In this blog, we will discuss lender versus borrower-paid mortgage transactions. Mortgage brokers can often opt to go with a borrower paid for by a mortgage borrower to save the borrower’s commissions. There is no such thing as free in the mortgage industry. The way mortgage rates charged is the higher the lender’s compensation, the…
ByAlex Carlucci
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When saving money buying a house, remember one key thing, low rates with FICO credit scores. This article will cover how to get low rates with high FICO for mortgages. It is possible for a homebuyer to qualify for a home loan with bad credit. Borrowers who do not meet the minimum credit scores to…
ByGustan Cho
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This guide covers interest rate buydowns with seller concessions on purchases. Interest Rate Buydowns are when borrowers pay DISCOUNT POINTSto buy down interest rates. Borrowers with great credit and a good mortgage interest rate can often get even lower interest rates by paying points for a lower mortgage interest rate. Mortgage rate buydowns are a…
ByGustan Cho
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This guide covers the first payment after closing for mortgage loan borrowers. One of the most common questions new homebuyers ask is when the first payment after closing. Other homeowners tell many that it will be a while before they make the first payment after closing on the new home. The first payment on a…
ByGustan Cho
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This guide covers mortgage rates and terms compared to credit scores and loan-to-value. Homebuyers planning on buying a home should prepare way ahead of time when preparing for a mortgage to get the best mortgage rates and terms. Mortgage applicants can take certain simple steps to maximize their credit and get the best mortgage rates and…
ByGustan Cho
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This guide covers getting more house for your money with low property taxes. Getting more house for your money is possible. Getting more house for your money for homebuyers can be done by getting a home with lower property taxes. Property taxes vary widely from state to state and county to county. New Jersey has…
ByAlex Carlucci
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This guide covers refinancing home loans with low rates. Thousands of homeowners were ready to refinance their mortgage loans last year when mortgage rates were in the mid-3.0% % from 2017 through 2020. Rates have skyrocketed to over 7.0%. It is not whether rates will drop but when they will. Maybe mortgage rates will not…
ByApril Ramirez
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This guide covers things that determines your mortgage rates on home loans. Mortgage rates are the interest rates that you pay for your mortgage loan. Many factors determine what mortgage rates will be offered to you. John Strange, a senior loan officer at Gustan Cho Associates, explains how no two borrowers will get the same…
ByAlex Carlucci
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This guide covers how inflation affects the housing and mortgage markets. Whenever you turn on the news, you hear “inflation.” In this article, we will review the current inflation rate throughout the country and break it down by sector. We will also go one step further and discuss inflation’s effects on the mortgage market. The…
ByAlex Carlucci
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This guide covers refinancing non-QM to conforming loans with lower mortgage rates. Mortgage rates hit the highest in 2023 since the 2008 Housing Bubble and Credit Collapse. Mortgage rates are increasing at historic twenty-year highs despite skyrocketing home prices, out-of-control inflation, and a volatile economy. Non-QM loans remain popular and are the mortgage loan of…
ByAlex Carlucci
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This guide covers why you should not get a 15-year fixed-rate mortgage. There are several good reasons Why You Should Not Get A 15-Year Fixed-Rate Mortgage. Most homebuyers are financially stable when they are in the process of buying a home. They are often confident their job and income will remain secure. John Strange, a…
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