Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.Guaranteed Rate Brings Back Same Day Mortgage Underwriting
Back in the good old days, pre-mortgage crisis, you could get a fully underwritten mortgage approval the same day. In fact, you could get approved for a mortgage by the early afternoon if you submitted a complete loan package that ... Read More »
New Program Allows Renters to Get a Mortgage with as Little as a Security Deposit
Home Partners of America and New Penn Financial have joined forces to offer renters the ability to get a mortgage with as little as their security deposit. The joint venture aims to alleviate one of the main obstacles to owning ... Read More »
2018 Conforming Loan Limit Jumps to $453,100
It’s that time of year again, when the FHFA announces the conforming loan limit for the upcoming year. And like last year, it’s going up! This marks just the second increase in the past decade thanks to that pesky housing ... Read More »
Quicken Loans Offering Cyber Monday Mortgage Deal
I was curious if any mortgage lenders were getting in on the Black Friday and Cyber Monday deals, and it turns out at least one is. Unsurprisingly, it’s Quicken Loans, one of the largest retail mortgage lenders out there. I ... Read More »
Flagstar Offering Zero Down Mortgages to Michigan Home Buyers
Flagstar Bank is the latest mortgage lender to offer a home loan with zero down payment requirement. They even go a step further by offering to pay the borrower’s closing costs too. Sounds pretty sweet, doesn’t it? Unfortunately, the new ... Read More »
Capital One to Stop Offering Mortgages
It’s feeling a little like 2007 today. Back then, I was writing posts like this on a daily basis. Capital One has announced that it is exiting the mortgage business, seemingly surprising given the current real estate climate that is ... Read More »
OfferPad Home Loans: iBuyer Links Up with loanDepot to Provide Bridge Financing
A so-called direct home buyer by the name of OfferPad that agrees to purchase homes in as little as 24 hours has announced a new joint venture with loanDepot to provide financing to those who use its platform. Specifically, the ... Read More »
The Five Most Common Uses of Home Equity Lines of Credit
In case you hadn’t heard, home equity lines of credit are expected to get a lot more popular in coming years as homeowners take advantage of all that recent home price appreciation. A new TransUnion study reveals that some 10 ... Read More »
10 Takeaways from the Annual Realtor Survey
The National Association of Realtors just released its 2017 Profile of Home Buyers and Sellers, and there are lots of interesting tidbits. Let’s explore 10 of them. 88% of Recent Buyers Financed Their Home Purchase First things first, an overwhelming ... Read More »
New Bill Aims to End FHA Mortgage Insurance Premiums for Life Policy
Back in 2013, FHA home loans became a lot less attractive because most newly originated mortgages required mortgage insurance to be paid for the entire life of the loan. Instead of paying mortgage insurance premiums for say 5-10 years, or ... Read More »
