Mortgage Tips

Simple tips to help you save money on your mortgage.

Mortgage Originations by Product Type: What’s Most Popular?

Mortgage Originations by Product Type: What’s Most Popular?
October 4, 2017 2 Comments »

Ever wonder what share of borrowers are taking out a 15-year mortgage as opposed to a standard 30-year fixed? Or an ARM instead? Well, I was, and so I went looking for the data. Fortunately, I was able to track ... Read More »

Why You May Want to Apply for a Mortgage When Things Are Slow

Why You May Want to Apply for a Mortgage When Things Are Slow
September 14, 2017 1 Comment »

A new working paper from the National Bureau of Economic Research reveals that it might be best to apply for a mortgage when no one else is. The analysis, “The Time-Varying Price of Financial Intermediation in the Mortgage Market” (if ... Read More »

Mortgages for Doctors: Expanded LTVs and Large Loan Amounts

Mortgages for Doctors:  Expanded LTVs and Large Loan Amounts
September 6, 2017 No Comments »

If you’re a doctor, or even a resident, or even a veterinarian, getting a mortgage can be a little bit easier thanks to so-called physician mortgages offered by most major lenders. Just about every bank offers a special mortgage program ... Read More »

These Six Things Will Happen If Mortgage Rates Go Up

These Six Things Will Happen If Mortgage Rates Go Up
August 14, 2017 No Comments »

We’ve been worrying that mortgage rates would go up for years now, but it just hasn’t happened yet. Sure, they’re up a little bit from record levels, but not by as much as expected. The 30-year fixed still sits firmly ... Read More »

What Will Happen to Your Mortgage When the LIBOR Goes Away?

What Will Happen to Your Mortgage When the LIBOR Goes Away?
August 7, 2017 No Comments »

If you have an adjustable-rate mortgage, I’ve got some important news for you. The London Interbank Offered Rate, or LIBOR as it’s known to most, is going to be phased out over the next five years. After 2021, it won’t ... Read More »

How Long Does It Take to Get a Mortgage?

How Long Does It Take to Get a Mortgage?
July 20, 2017 No Comments »

Mortgage Q&A: “How long does it take to get a mortgage?” This is a fairly common question because we humans aren’t very patient. This is compounded by the fact that we’re asking for a very large sum of money. Because ... Read More »

Fannie Mae Increasing Max DTI to 50%, Upping LTVs for ARMs

Fannie Mae Increasing Max DTI to 50%, Upping LTVs for ARMs
June 27, 2017 No Comments »

There’s been a lot of talk lately about mortgage lenders easing credit standards as refinance volume wanes and purchase activity remains constrained by limited inventory. Because more and more new entrants (many so-called disruptors) have joined the fray, and there’s ... Read More »

Can Credit Card Churning Hurt Your Chances of Getting a Mortgage?

Can Credit Card Churning Hurt Your Chances of Getting a Mortgage?
May 18, 2017 No Comments »

These days, it’s not uncommon for individuals to open a bunch of credit cards in a short span of time to acquire lots of points and/or cash back. Those who do it on a serial basis are known as churners. ... Read More »

The Best Time to Buy a Home Is in August and September

The Best Time to Buy a Home Is in August and September
May 11, 2017 No Comments »

Wondering when the best time to buy a home is? Well, thanks to data science, we no longer have to guess. The very best time is late summer, namely August and September, this according to a new study from real ... Read More »

What Is Mortgage Protection Insurance? And Do You Need It?

What Is Mortgage Protection Insurance? And Do You Need It?
May 2, 2017 No Comments »

So you just closed on your mortgage and you’re beginning to settle into your new home (and your new loan). You’re assessing the many things that will need to be fixed and changed to make your house a home. Then ... Read More »