Home Loans

Wells Fargo Loosens Standards for Jumbo Mortgages

Reuters reports that Wells Fargo, the largest U.S. mortgage lender, has eased up on its requirements on some high-end mortgages. The new lax rules affect only the fixed-rate “jumbo” mortgages that Wells Fargo acquires from other banks. In

Signing Your Mortgage Docs: Don’t Be Afraid to Ask Questions

Filling out loan documents is a long and complicated process, and you’ll be asked to sign lots of documents that you may not fully understand. If this happens to you, don’t be afraid to ask questions. The complexity of the

Refinancing Boom Comes to an End

Freddie Mac officially declared this week that the refinancing boom is over. They called the official end “when the share of mortgages originated for refinancing fell below 50 percent for the first time since the third quarter of 2008,” according

Mutli-Million Dollar Mortgages Seeing a Surge

While many first-time home buyers are struggling to get approved for modest-sized mortgages, banks are seeing a major increase in the number of multi-million dollar loan requests coming through their doors. “High-net-worth borrowers don’t have to borrow,” Bank of New

Mortgage is Cheapest Way to Borrow

No one loves carrying debt, but if you have to do it, a mortgage is usually one of the cheapest ways to go about it. Especially now with interest rates at historical lows, plus the fact that any interest incurred

Don’t Be Afraid to Shop for Lenders

To ensure the best rate and the best home buying experience, it is important to shop around for the right lender. The best approach is to find several options and provide all of them with the same pertinent financial information.

Work on Debt-to-Income Ratio for Best Mortgage Rates

When taking out a loan like a mortgage, your potential lender wants to know how much you currently owe versus how much you make. To increase your chances of securing the best rate possible, it is wise to pay off

VHA Loans Helping Housing Market Boom

As soon as U.S. troops began steadily returning from their service in Iraq and Afghanistan, the number of FHA loans taken out began to soar. Following a decade of combat, “everybody is just ready,” said Air Force Staff Sgt. Claude

Don’t Buy Unless You Can Stay Put

It’s not wise to purchase a home unless you can plan to stay there for at least a few years. With the various expenses incurred in each home-buying transaction, you may end up losing money, even if the value of

Average US Mortgage Rates Dip Slightly

The Associated Press is reporting that average mortgage rates dropped this week from 4.15 to 4.13 percent for 30-year loans, and from 3.24 to 3.23 percent for 15-year loans. These rates are even lower than they were at this time

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