Home Loans

Colorado Luxury Development Offers Fractional Ownership

One Steamboat Place, a luxury development in Steamboat Springs, Colorado, is offering up a new type of vacation property ownership that is similar to a timeshare. Unlike timeshares, however, this new type of fractional ownership exclusively targets high-end properties. Plus,

Wells Fargo Is Commercial and Multi-Family Mortgage Leader

The Mortgage Bakers Association announced this week that Wells Fargo leads the pack of commercial and multi-family mortgage servicers in the United States. Wells Fargo had lent out $446.8 billion as of June 30, 2014. PNC Real Estate/Midland Loan Service

Mortgage Banks Back in the Black

In the second quarter of 2014, mortgage banks reported an average net gain of nearly $1,000 per loan. That number is up quite a bit from the previous quarter, when the banks were losing almost $200 for every loan taken

All-Cash Deals Remain Popular in Some Markets, but Lessening

According to the latest reports, 38 percent of home purchases in the second quarter of 2014 were all-cash deals. This is a large number to be sure, but it is actually down from 42 percent in the first quarter of the year. Experts are

San Francisco Has Toughest Housing Market to Afford

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, the San Francisco housing market is the toughest in the country to break into. In the second quarter of 2014, only 11.1 percent of households earning the median

As Rents Increase, Buying May Be Better

Although home prices have been increasing, so too have rent prices. So with interest rates as low as they are, it may be better, financially, to purchase a home than to continue to rent. Even former HUD secretary Shaun Donovan

When Looking to Buy, Know Your Income

It likely comes as no surprise that when an underwriter is reviewing an individual’s mortgage application, income plays a huge factor. “We want to see a history of income that’s documented and has a likelihood to continue,” says Arlene Allert

Fannie Mae Survey: Better Financial Outlooks Could Improve Housing Market

A new survey conducted by Fannie Mae revealed that the number of Americans who believe it’s a good time to buy a home and the number of Americans who believe it’s a good time to sell a home are evening

State with Lowest Mortgage Interest Rate: Rhode Island

Rhode Island homebuyers are the luckiest in the nation when it comes to mortgage interest rates. Anyone looking to buy a house in the nation’s smallest state can an expect an interest rate of about 3.4 percent, which is .35

Three Men Charged in $18.5M Mortgage Fraud Scheme

Two men from California and one from New York were charged in connection with an alleged $18.5 million mortgage modification fraud scheme. U.S. officials believe this may be the largest charge of its kind. The three men allegedly falsely led

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