Mortgage and Real Estate Articles from Mortgage Research Center
网页5 天之前 · Many first-time buyers hesitate to get pre-approved because it could hurt their credit. But now it's possible to get pre-approved without a hard credit inquiry. by Tim Lucas in Credit. April 4, 2024 4 MIN. Mortgage Research Center features mortgage news and advice for homebuyers from a team of experts in mortgage, real estate and personal …
Mortgage Rates Today, Sep. 18, 2024: Fed Day Finally Arrives
网页2 天之前 · by Peter Warden in Rates. September 18, 2024, 8:30 AM UTC 4 MIN. The average 30-year fixed rate mortgage was 5.59% yesterday, a decrease of 0.01% since the day before. The 15-year fixed mortgage rate stood at 4.58%, down by 0.08%. The 30-year FHA mortgage averaged 4.97% yesterday, having dropped by 0.06. Meanwhile, the 30 …
Fannie Mae Rolls Out 5% Down Multifamily Home Loans
网页July 1, 2024, 3:15 PM UTC 5 MIN. It's official: Fannie Mae now allows 5% down payments for owner-occupied 2-, 3-, and 4-unit (multifamily) homes. This is a surprising reversal of the years-long policy of requiring 15-25% down for duplexes, triplexes, and four-plexes. It will be a major benefit to those looking to purchase a multifamily home to ...
A Complete Guide to FHA Refinances: Eligibility, Requirements, …
网页2024年8月23日 · Conventional Refinances. Conventional loans are not insured by a government agency and, as such, have slightly higher requirements than FHA refis. You can expect to need a minimum credit score of 620 and a maximum debt-to-income ratio of 45%. You'll also need at least 5% equity in most cases.
Rates Articles - Mortgage Research Center
网页2024年9月10日 · Buying a $350k Home Just Got $300 Per Month Cheaper. Falling mortgage rates have equated to an estimated $300-per-month drop in the mortgage payment on a $350,000 home. by Tim Lucas. August 31, 2024 1 MIN.
How Property Taxes Can Make or Break Home Affordability
网页1 天前 · The difference between a home with $3,000 or $5,000 annual tax costs is $167 per month. You could spend about $25,000 more on the house with lower property taxes and have the same monthly payment. Homebuyers should shop for low property taxes as much or more than an open-layout living space or granite countertops. 2.
Home Loans Articles | Mortgage Research Center
网页2024年9月12日 · The Freddie Mac Home Possible program offers 3% down, reduced mortgage insurance and rates, and flexible income sources. by Tim Lucas. July 16, 2024 11 MIN. Next ». 1 2 ... 37. Page 1 of Home Loans Articles from Mortgage Research Center.
How to Refinance Your Home - Mortgage Research Center
网页If you're providing a down payment or any other closing costs, bring that with you. You'll also need a few forms of identification. You'll sign the refinance paperwork in front of the notary, who will stamp it and provide you with a copy of the paperwork. Make sure you keep your paperwork somewhere safe at home.
FHA Loans: The Comprehensive Guide - Mortgage Research Center
网页The FHA loan is a type of government-backed home mortgage insured by the FHA, aka the "Federal Housing Administration." The FHA designed this program for borrowers who may be unable to make a sizeable down payment or meet conventional credit and income requirements.. FHA loans are popular with first-time homebuyers and other budget …
Large Mortgage Rate Spread Costs Homebuyers an Additional …
网页2024年1月23日 · Let’s see what happens when we add the current 10-year Treasury yield and a typical mortgage rate spread. You read that right: mortgage rates would be in the high 5s if we had normal spreads. To put it in real dollars, the current high spread is costing homebuyers $168 more per month on a $350,000 mortgage.
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