What do you know about mortgages?

Confident that you know all you need to know about mortgage rates? Don’t be so sure! A recent survey of 1,005 prospective home buyers conducted by the web site Zillow revealed that nearly half of those polled didn’t have a clue — and proved it by not knowing mortgage rates basics, like that lender fees are negotiable and how adjustable…

When a mortgage payoff makes sense

Paying off your mortgage makes good sense under certain circumstances, but all aspects of your financial picture must be considered first.

According to the Federal Reserve Bank of Chicago, more than one third of those who are choosing to accelerate paying off their mortgages rather than save in tax-deferred accounts are making a mistake.

Here are…

Will new mortgage rates rules chase away buyers?

When the residential real estate market was aiming for the sky, many mortgage lenders didn’t seem to care much who got loans. They were made willy-nilly to people who weren’t qualified, regardless of what mortgage rates the lender charged.

Greedy lenders offered loans for which mortgage rates escalated seriously after an introductory period, even some in which…

Mortgage rates are low, but could they stay low?

Mortgage rates are low now, granted. The question is, how much longer will they stay that way?

Some economists think mortgage rates may remain low through 2012 for several reasons.

First, demand for mortgages continues to slip despite the fact that mortgage lenders are beginning to make it easier to borrow.

Secondly, though mortgage rates remain near historical…

Time to lock in a mortgage rate?

Mortgage rates continue to fall, making the opportunity to lock in low mortgage rates something potential homebuyers should take into consideration before deciding to wait longer to buy or refinance a home.

In fact, right now, average mortgage rates on a 30-year fixed-rate loan are at the lowest levels since December 2010!

No one has a crystal ball, but borrowers should know that mortgage rates will go up…

Understanding your loan amortization

Don’t let a five-syllable word confuse you. Loan amortization is a vital insight into your home mortgage. If you’ve been in the market for a home, you’ve probably heard the term tossed around but haven’t a clue as to what it means and how it affects your home loan.

Understanding it isn’t as complicated as pronouncing it….

Need to refinance? Follow these steps

Maybe you lost your job, or maybe medical bills have stretched your budget past the breaking point. You’re a responsible homeowner and the circumstances were beyond your control, but regardless, you need to refinance your mortgage loan and you’re stuck with lousy credit.

While a bad credit history can make getting your home refinanced at a low rate more difficult, the situation isn’t hopeless. A

Will you qualify for a home mortgage rate?

Yes, folks, the home-buying market has changed, and the requirements for home mortgage rates have changed, too. The gung-ho mortgage lending of a few years ago, with “zero-down” mortgages and home loans being approved without even proof of income, are a thing of the past.

Tighter loan requirements, aimed at preventing another financial housing catastrophe, may make good mortgage rates a bit more difficult to come…

Three great steps to a great rate

You’ve found your dream home, and even the price is right! But securing great mortgage rates on your loan can make the difference between soaking up the rays in Capri next summer and a staycation in your new backyard.

That’s because the difference of three percentage points on a $200,000 loan can mean an extra $4,920 in your checking account each year. These three steps will help…

Time to buy a house? Probably. Here’s why…

I’m going to say something that probably won’t shock you much: It’s a good time to buy a house. Mortgage rates are still low, and prices are rock bottom in many places.

Yes, I know, that’s the standard line from us realtors. It’s always time to buy, buy, buy! But this time it’s true. True like it hasn’t been true in years.