Mortgage News

The latest industry news, digested.

Guild Mortgage Latest to Offer a 1% Down Payment Mortgage

Guild Mortgage Latest to Offer a 1% Down Payment Mortgage
June 14, 2017 No Comments »

It seems 1% down is the new zero down in the mortgage world, with San Diego-based Guild Mortgage the latest to join the fray. The independent mortgage bank, like others before it, will take advantage of a grant to give ... Read More »

Mortgage Payments Historically Expensive Despite Low Rates

Mortgage Payments Historically Expensive Despite Low Rates
June 12, 2017 No Comments »

Remember all those articles (including some on this blog) that claimed mortgage rates would have to rise to X percent in order for homes to become unaffordable? Well, mortgage rates have been pretty flat for the past several years, and ... Read More »

Movement Mortgage Launches Zero Down Mortgage Called MAP

Movement Mortgage Launches Zero Down Mortgage Called MAP
June 7, 2017 2 Comments »

Movement Mortgage is the latest of many mortgage lenders to offer a zero down option for prospective home buyers, referred to as the Mortgage Assistance Program, or MAP. Like others before it, the MAP will rely on a 3% grant ... Read More »

Magilla Lets You Shop Mortgage Lenders Anonymously

Magilla Lets You Shop Mortgage Lenders Anonymously
June 5, 2017 No Comments »

There’s a new disruptor in the mortgage space called Magilla that lets you shop for a mortgage anonymously, assuming you don’t want lenders to bug you. They refer to themselves as the “search engine for loans” because you can shop ... Read More »

Stearns Lending Offering Discounted Mortgage Payment for the First Two Years

Stearns Lending Offering Discounted Mortgage Payment for the First Two Years
May 25, 2017 No Comments »

A new promo from Stearns Home Loans sounds almost too good to be true – the lender is offering to buy down your mortgage rate for the first two years without any upfront costs. Pay attention to that last part, ... Read More »

Zillow Instant Offers: For Those Who Want to Sell Their Home Fast

Zillow Instant Offers: For Those Who Want to Sell Their Home Fast
May 24, 2017 No Comments »

The online real estate marketplace Zillow has just launched a new feature called “Zillow Instant Offers,” aimed at helping seemingly impatient sellers quickly offload their homes. In short, their research has found that some homeowners want a “faster, simpler selling ... Read More »

Traditional 20% Mortgage Down Payment Could Be Cut in Half

Traditional 20% Mortgage Down Payment Could Be Cut in Half
May 22, 2017 No Comments »

I recently wrote about the need to put down 20% when buying a home, which although often recommended, isn’t a necessity these days. There are programs from both the FHA and Fannie Mae and Freddie Mac that allow much lower ... Read More »

Chase Is Offering 100,000 Ultimate Rewards Points When You Take Out a Mortgage

Chase Is Offering 100,000 Ultimate Rewards Points When You Take Out a Mortgage
May 8, 2017 No Comments »

It’s not very common for mortgage lenders to offer cash back or some other sort of reward for taking out a mortgage. Generally, you might get some sort of closing cost guarantee or some assurance that if they screw up, ... Read More »

Real U.S. Home Prices Remain 33.3% Below 2006 Peak

Real U.S. Home Prices Remain 33.3% Below 2006 Peak
March 28, 2017 No Comments »

Let’s talk about home prices again because there have been numerous reports of eroding affordability and fears that we might be topping out just five short years after hitting rock bottom. For example, the National Association of Realtors recently noted ... Read More »

Today’s Mortgages Are Not Your Older Sibling’s Mortgages

Today’s Mortgages Are Not Your Older Sibling’s Mortgages
March 22, 2017 No Comments »

While pundits and fusspots continue to question whether we’re headed for another housing bubble, consider this: The most recent mortgages were among the highest quality (lowest risk) since 2001. Indeed, mortgages originated during the fourth quarter of 2016 were of ... Read More »