Mortgage Tips

Simple mortgage tips to help you better prepare for the mortgage process and ideally save money on your mortgage.

Are Mortgage Points Worth the Cost?

Are Mortgage Points Worth the Cost?
June 29, 2020 No Comments »

Mortgage Q&A: “Are mortgage points worth it?” When taking out a mortgage, whether for a new home purchase or to refinance an existing loan, one decision you’ll undoubtedly have to make is if it’s worth paying mortgage points to obtain ... Read More »

COVID-19 May Have Just Been a Speed Bump for Surging Housing Market

COVID-19 May Have Just Been a Speed Bump for Surging Housing Market
June 22, 2020 No Comments »

We’re starting to get a better picture of how COVID-19 affected the housing market, with the National Association of Realtors’ existing-home sales report showing a big drop in May. It’s based on completed transactions, including both single-family homes and condos/townhomes, ... Read More »

5 Things to Know If Considering Mortgage Forbearance

5 Things to Know If Considering Mortgage Forbearance
June 9, 2020 No Comments »

If you’re a homeowner, or just became one during the pandemic, you’ve likely heard of mortgage forbearance. Not to be confused with mortgage forgiveness, it allows borrowers to suspend mortgage payments for a period of time if experiencing a hardship ... Read More »

Use These Mortgage Charts to Easily Compare Rates

Use These Mortgage Charts to Easily Compare Rates
June 4, 2020 No Comments »

One of the things prospective home buyers and existing homeowners seem to care most about is mortgage rates. And for good reason – the interest rate you receive on your home loan dictates what you’ll pay each month, sometimes for ... Read More »

Only 5% of Homeowners Who Got Approved for Mortgage Forbearance Needed It

Only 5% of Homeowners Who Got Approved for Mortgage Forbearance Needed It
May 20, 2020 No Comments »

Just five percent of homeowners who recently got approved for mortgage forbearance actually needed it, according to a shocking survey from home loan comparison company LendingTree. The company said 70% of those in forbearance plans could have made mortgage payments, ... Read More »

There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance

There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance
May 19, 2020 No Comments »

We’ve finally got some clarity regarding what happens after mortgage forbearance in terms of obtaining a subsequent home loan. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, announced temporary guidance regarding the matter today. Waiting ... Read More »

Will Forbearance Prevent You from Getting a Mortgage in the Future?

Will Forbearance Prevent You from Getting a Mortgage in the Future?
May 13, 2020 No Comments »

Since the CARES Act rolled out in early April, more than four million Americans have reportedly put their mortgage payments on hold for up to 12 months. The massive numbers taking part can be attributed to the widespread fallout from ... Read More »

Home Prices vs. COVID-19: Will They Go Up or Down?

Home Prices vs. COVID-19: Will They Go Up or Down?
May 7, 2020 No Comments »

It’s time to take a look at how COVID-19 could impact home prices given the massive disruption to the local, state, national, and global economy. On the one hand, inflation is expected due to all the government spending, which could ... Read More »

12 Reasons Today’s Housing Market Is Not the Great Recession All Over Again

12 Reasons Today’s Housing Market Is Not the Great Recession All Over Again
April 27, 2020 No Comments »

While it’s becoming easier to compare the housing bust that sparked the Great Recession with today’s uncertain climate, the two just aren’t the same. You’re probably going to see lots of articles warning of the next housing crash, claiming homeowners ... Read More »

How Do I Know If Fannie Mae or Freddie Mac Owns My Mortgage?

How Do I Know If Fannie Mae or Freddie Mac Owns My Mortgage?
April 3, 2020 No Comments »

Quick mortgage tip: “How do I know if Fannie Mae or Freddie Mac owns my mortgage?” One of the key requirements to getting approved under the CARES Act to receive mortgage forbearance is ensuring that your loan is indeed owned ... Read More »