FHA loans are becoming increasingly popular these days as potential homeowners are not able to qualify for mortgages from traditional lenders. The FHA insures these high-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market.
Factors To Consider When Applying For A Home Mortgage
Owning a home can be a sign of independence and success. It allows you to build up equity and the mortgage interest and property taxes are tax-deductible. What can you do to make a home affordable for you?
Reputable lenders look at a list of criteria to decide how much they’ll loan you.
Recent Government Activity And Its Effect On Mortgage Interest Rates
Mortgage rates typically are tied more to the yields on the 10-year Treasury note more than any other indicator. With the government in flux as the shutdown happened and ended, mortgage rates are also changing.
Overall, mortgage rates have decreased because of a lack of confidence in the government’s ability to get its finances under control.
How Does An Interest-Only Mortgage Work?
When you have been researching your different options for a mortgage on your home, you might have heard of an âInterest-Only Mortgageâ. What exactly does this type of mortgage mean and how does it work?
Don’t Let Confusion With Mortgage Jargon Cost You
A recent study of US and UK home buyers, conducted by the London based Nationwide Building Society, found that more than 40% of people buying homes were confused by the jargon that lenders used to describe mortgages.
