Blog – Page 631 of 825

03 Mar 2016

The FHA Mortgage Minimum Credit Score Has Been Reduced. Here’s What You Need to Know…

Home Mortgage Tips

Credit is of considerable concern when it comes to buying a home, but if you're on the market for a new place in the next few months there may be some timely news that applies to you. If you haven't heard about the changes to the Federal Housing Administration's (FHA) credit score minimum, here's some information on the recent reduction and how it may impact your home purchase. Information On The FHA Started in 1934, the FHA is the organization responsible for insuring the loans that are available to homebuyers in the United States. These loans are not provided directly…

02 Mar 2016

By Mark Feder

4 Facts You Need to Know Before Setting Up a Mortgage Escrow Account

Home Mortgage Tips

Buying a home involves a variety of nuances and strange-sounding terms, and one of the least understood aspects of the home buying process is the escrow account. Essentially, an escrow account is a third party bank account your lender can require you to pay into in order to cover certain costs related to your home. Your lender uses an escrow account to ensure that property taxes and home insurance fees get paid on time. But how exactly do escrow accounts work? Here's what you need to know. Escrow Accounts Are Mandatory With Certain Mortgages Not all home buyers are required…

01 Mar 2016

By Mark Feder

If There’s One Mistake That You Make With Your Mortgage…Don’t Make This One

Home Mortgage Tips

There is so much to know when it comes to home ownership that even wading into all of the information can seem overwhelming, but if there's one thing you need when the time comes to purchasing a home, it's to be prepared. Here are a few ways that you can ensure you're ready for what a mortgage entails so that buying your dream home will be a positive experience you won't regret. Consider All Of Your Options Instead of accepting the mortgage that your bank is offering you, it's very important to do some research and determine what some of…

29 Feb 2016

By Mark Feder

What’s Ahead For Mortgage Rates This Week – February 29, 2016

Financial Reports

Last week's economic reports included Existing and New Home Sales and Consumer Confidence along with regularly scheduled weekly reports on mortgage rates and new jobless claims. Sales of Pre-Owned Homes Exceed Expectations January sales of previously owned homes rose to an annual level of 5.47 million sales against expectations of 5.30 million sales and December's reading of 5.45 million sales. Existing home sales rose by 0.40 percent month-to-month, which was the second-highest month-to-month reading since existing home sales were first tracked. Sales of existing homes had a strong showing with sales 11 percent higher year-over-year. Real estate markets continue to…