Interest only mortgages are one of the best selling products today. With an interest only mortgage you may either pay just the monthly interest that is due on your loan or you may pay both the principal and interest. (more…)
A mortgage loan is probably the largest loan you will ever take out, so it is important that your credit score look as good as possible to a potential mortgage lender. The better your credit looks, the less risk you will appear to be, which will result in you being offered the more favorable mortgage programs. (more…)
The Mortgage Bankers Association announced this morning that applications for mortgage loans decreased 2.8 percent last week when compared to the week prior. (more…)
The U.S. Census Bureau and the Department of Housing and Urban Development announced today that sales of new, single-family homes in August dipped 8.3 percent. Bob Walters, chief economist at Quicken Loans says the drop in home sales is not totally unexpected, given the recent turmoil affecting the mortgage industry. (more…)