Mortgage News

The latest industry news, digested.

New Guaranteed Rate Double Match Mortgage Gives You 2% of the Down Payment for Free

New Guaranteed Rate Double Match Mortgage Gives You 2% of the Down Payment for Free
July 22, 2016 No Comments »

No it’s not déjà vu, or Groundhog Day. Guaranteed Rate has launched yet another 1% down payment mortgage in the span of about a month. However, their new “Double Match” loan program is quite a bit different than their previously ... Read More »

FirstREX Will Provide Half Your Down Payment in Exchange for Future Appreciation

FirstREX Will Provide Half Your Down Payment in Exchange for Future Appreciation
July 21, 2016 2 Comments »

If you’re a little light on down payment funds, a company called FirstREX might be able to help you out, for a cost. Put simply, their “REX HomeBuyer” product will give you up to 50% of the down payment you ... Read More »

You Need to Save $68 a Day for Five Years to Buy a Home in LA

You Need to Save $68 a Day for Five Years to Buy a Home in LA
July 14, 2016 No Comments »

I’ve been talking about down payments a lot lately, thanks to all the new zero down and 1% down loan options that sprang out of nowhere in the past few weeks. It seems every lender out there is beginning to ... Read More »

United Wholesale Mortgage Launches 1% Down Home Loan for Brokers

United Wholesale Mortgage Launches 1% Down Home Loan for Brokers
July 13, 2016 No Comments »

Yep, it’s another post about a 1% down mortgage, which seems to be the next big thing in the mortgage realm. That and zero down mortgages I suppose. I guess it’s a sign of the times, or more appropriately, sky-high ... Read More »

The 5 Compromises Home Buyers Are Making These Days

The 5 Compromises Home Buyers Are Making These Days
July 11, 2016 No Comments »

It’s no secret home prices aren’t cheap. They may not be expensive either, depending on how you look at it, but they certainly aren’t cheap. It doesn’t take an economist to figure that out. At the same time, mortgage rates ... Read More »

BancorpSouth Has a No Fee 100% LTV Mortgage That Doesn’t Require Mortgage Insurance

BancorpSouth Has a No Fee 100% LTV Mortgage That Doesn’t Require Mortgage Insurance
July 6, 2016 No Comments »

While it might sound too good to be true, BancorpSouth out of Tupelo, Mississippi has a mortgage with virtually no fees and no down payment requirement. The bank’s “Right@Home” loan program gives qualified home buyers the option to purchase a ... Read More »

Fifth Third Bank Offering No Down Payment Mortgage

Fifth Third Bank Offering No Down Payment Mortgage
July 6, 2016 No Comments »

It appears the pesky down payment hurdle to homeownership is finally being swept aside. This week, Fifth Third Bank out of Cincinnati, Ohio announced the availability of a mortgage with absolutely no down payment requirement. Put simply, that means you ... Read More »

25 Trade Groups Call for Elimination of Loan-Level Pricing Adjustments

25 Trade Groups Call for Elimination of Loan-Level Pricing Adjustments
June 27, 2016 No Comments »

More than two dozen trade groups have called for the reduction or elimination of loan-level pricing adjustments (LLPAs) on Fannie Mae and Freddie Mac loans, a move that could push mortgage rates even lower than they already are. Put simply, ... Read More »

UK Mortgage Lenders Offering 0.99% Mortgage Rates

UK Mortgage Lenders Offering 0.99% Mortgage Rates
June 27, 2016 No Comments »

While U.S.-based mortgage lenders (and borrowers) are expected to benefit from Brexit via lower mortgage rates, the opposite might be true across the Pond. Over in the UK, we’re already seeing a lot of risk mitigation related to the uncertainty ... Read More »

A Bank Is Offering Discounted Mortgage Rates Because Cleveland Won an NBA Championship

A Bank Is Offering Discounted Mortgage Rates Because Cleveland Won an NBA Championship
June 23, 2016 No Comments »

If you didn’t hear the news, LeBron James and his Cleveland Cavaliers won the NBA championship. It’s pretty amazing because they did so after being down 3-1 in the series, meaning they had to win three straight. It’s even more ... Read More »