Mortgage and Real Estate Articles from Mortgage Research Center
WEBSep 12, 2024 · 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 Rates Today, Sep. 18, 2024: Fed Day Finally Arrives
WEB1 day ago · 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.
Fed Issues 0.50% Rate Cut, Biggest Since March 2020
WEB19 hours ago · September 18, 2024, 5:37 PM UTC 4 MIN. The Federal Reserve cut its key interest rate by 0.50% today in the most anticipated Fed meeting in years. It was the biggest cut since March 2020 when the U.S. economy faced the COVID-19 pandemic. The group, tasked with balancing U.S. inflation and employment, made …
Mortgage Rates Today, Sep. 17, 2024: Risks as Fed Countdown …
WEB2 days ago · by Peter Warden in Rates. September 17, 2024, 8:30 AM UTC 3 MIN. The average 30-year fixed rate mortgage was 5.6% yesterday, a decrease of 0.04% since the day before. The 15-year fixed mortgage rate stood at 4.66%, down by 0.02%. The 30-year FHA mortgage averaged 5.03% yesterday, having dropped by 0.03. Meanwhile, the 30-year jumbo mortgage ...
What Is a Mortgage and What Can It Do for You? - Mortgage …
WEBJun 17, 2024 · Mortgages are secured by the underlying piece of real estate. If a borrower fails to make their payments, the lender can take legal action to gain ownership of the property. They can then sell it to recoup their losses. Without a mortgage, buying a home would require you to save up the entire purchase price.
A Complete Guide to FHA Refinances: Eligibility, Requirements, …
WEBAug 23, 2024 · 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.
Conventional Loan Refinance Guidelines for 2024 - Mortgage …
WEBMar 1, 2024 · 25%. *to refinance with 3% equity, your current mortgage must be owned or securitized by Fannie Mae or Freddie Mac. Otherwise, a minimum of 5% equity is required. Also remember that if you’re doing a conventional loan refinance with less than 20% equity, you’ll be required to pay for private mortgage insurance.
Rates Articles - Mortgage Research Center
WEBSep 10, 2024 · Breaking: 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.
Home Loans Articles | Mortgage Research Center
WEBSep 12, 2024 · 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.
FHA Streamline Refinance: 2024 Guidelines and Loan Requirements
WEBFeb 7, 2024 · Although most applicants won't encounter credit score or income requirements, there are still some guidelines that you'll need to meet to be eligible for an FHA streamline refinance. Specifically, your existing mortgage must: Be an FHA loan. Be current on its payments. Have been opened at least six months ago.
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