Home Improvement Loans: How to Find Quick Cash to Renovate Your House

designer491/iStock Home improvement loans sound pretty sweet: Imagine, someone actually gives you money to fix up your house! And these loans are actually plentiful if you know where to look. Here are some options to explore, and how to tell whether they’re right for you. FHA 203(k) loan The FHA 203(k) loan is a loan from the Federal Housing Administration—so that […]

Read More »

Is a Mortgage Pre-Approval Letter Necessary to Make an Offer on a House?

BrianAJackson/iStock Is a mortgage pre-approval letter necessary to make an offer on a house? The short answer is no. However, if you want your offer to be taken seriously and to stand out from any competing bids, this little piece of paperwork can really give you the edge. “While you do not ‘need’ a pre-approval letter from your lender […]

Read More »

Mortgage Closings Just Took a Big Step Into the Digital Age

Chris Gash for The Wall Street Journal Borrowers used to closing on a mortgage in a conference room surrounded by other parties to the transaction may soon be in for a pleasant surprise. The ink-free, paper-free, meeting-free remote mortgage closing is finally here. On July 28, Peter Mueller and his wife, Patty, refinanced the mortgage […]

Read More »

It’s About to Become Easier to Qualify for a Mortgage—Here’s Why

deliormanli/iStock We’re living in expensive times—when a bottle of fresh juice can run you $5, rents and home prices are soaring, and the bills never seem to stop piling up. But aspiring homeowners might soon get a break as it becomes a little easier for those with student, credit card, and car loan debt to qualify for a […]

Read More »

How Much Are Mortgage Fees? The Costs That Come With Your Loan

imaginima/iStock When shopping for a home, it seems like there’s something to pay for at every step of the way. To get your mortgage approved—thereby allowing you to actually buy your house—you’ll have to pay mortgage fees. The most common mortgage fees also fall under the umbrella of closing costs, those expenses you pay when you […]

Read More »

Top 4 Fights Couples Have When Buying a Home: Which One Will Get You?

ImagesBazaar/Getty Images All’s fair in love and real estate, right? While shopping for a home is exciting for many couples, it’s also a notoriously trying process. As proof, look no further than a recent survey from LendingHome, which found that 60% of couples aged 25 to 45 disagreed with their significant other when buying a house. LendingHome […]

Read More »

How Long Does It Take to Get a Mortgage? Longer Than You Might Think

Marrypopins/iStock In the age of same-day delivery and smartphones, we’re used to rapid wish fulfillment. With a few clicks and taps, and within hours, a drone drops a package on your porch. But when it comes to getting a mortgage, that’s just not how things work. So how long does it take to get a mortgage? […]

Read More »

What Is a Jumbo Loan? It’s Not as Huge as You Might Think

BrianAJackson/iStock; realtor.com At first glance, a jumbo loan seems self-explanatory: It’s a great, big loan, right? Essentially, that’s true. Obtaining a jumbo loan allows you to borrow a larger amount of money than the maximum value of a conforming loan. A conforming loan essentially “conforms” to guidelines set by Fannie Mae and Freddie Mac. But just how much […]

Read More »

What Is a Good Expense Ratio for Home Buyers?

Terminator3D/iStock; realtor.com When you purchase a home, mortgage lenders go through a number of anxiety-inducing variables—including your credit score, your income, and your work history—with a fine-toothed comb. But even if all these indicate you’re a good candidate for a mortgage, something called an “expense ratio” could still be a deal breaker. Your expense ratio is the metric that helps lenders […]

Read More »

Homeowners Are Again Pocketing Cash as They Refinance Properties

Associated Press Americans refinancing their mortgages are taking cash out in the process at levels not seen since the financial crisis. Nearly half of borrowers who refinanced their homes in the first quarter chose the cash-out option, according to data released this week by Freddie Mac. That is the highest level since the fourth quarter […]

Read More »

Visit Us On FacebookVisit Us On TwitterVisit Us On PinterestVisit Us On YoutubeVisit Us On LinkedinVisit Us On Google Plus