Mortgage Lender 360 Blog

It's true that housing prices got overheated in the last five years, and now the market is correcting itself, but it's difficult to find much to cheer about even though home prices are going lower. Because of tightening credit and changes in the rules for the home mortgage market, fewer and fewer buyers will qualify for a home loan at a decent rate. As a recent (12/27)... Read More

The Federal Reserved decided today that a new home mortgage plan was needed to protect buyers from not so truthful lenders. The new home mortgage plan has been drawn up in response to the many people who have and are beginning to lose their homes because of increasing interest rates. The new home mortgage plan is for the many low-income families that just cannot keep up... Read More

How to Avoid Refinancing Pitfalls

Mistakes made while refinancing your mortgage can cost you thousands of dollars. If you neglect doing your homework before refinancing you are sure to make mistakes. Here is what you need to know to avoid these mortgage mistakes.

Many homeowners fail to take into consideration that refinancing the mortgage is going to cost them money. You... Read More

Now that the Federal Reserve has dropped interest rates another quarter point, it should be easier for many people to get a mortgage loan. Because the amount you can get for a mortgage loan is closely tied to your income and debt ratios, as well as the interest rate, the lower the interest rate, the larger the mortgage loan for which you may qualify. The Fed dropped... Read More

In the last few years, interest only mortgages have become increasingly trendy. On the surface they look like great alternatives, but there are risks you should be aware of. These new home loans are structured so that during the first few years you do not pay any principle, only interest. Here's a pro/con list to help you sort it out.

Pros

» Savings. You can save hundreds of... Read More

PAY OFF MORTGAGE

This is something on most of our lists of things to do. Or perhaps it's a dream that we hope for but never seem to achieve. Most of us hope to pay off our mortgage before retirement and yet most don't. Most Americans are used to the 15 or 30 year mortgage. It's an accepted fact. But it doesn't have to be. Australians have been paying off their mortgages... Read More