The Truth About Mortgage Blog

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Welcome to a warm, friendly, and most importantly unbiased place to learn about mortgages, ideally before you make contact with a real estate agent or lender. The more you know, the better you’ll feel, and hopefully all that hard work will help you snag a lower mortgage rate too! View all mortgage help topics to get started or check out the latest mortgage tips and news below.

Latest Posts

LoanSnap: Using AI to Make Smart Home Loans

LoanSnap: Using AI to Make Smart Home Loans
May 18, 2020 No Comments »

Everyone wants to be the next big thing in the mortgage industry, promising a digital experience or even a funded loan in days as opposed to weeks. We’ve seen signs of this disruption for years now, and while it has ... Read More »

Home Buyer Demand Bounces Back, Small Towns Become Hot

Home Buyer Demand Bounces Back, Small Towns Become Hot
May 14, 2020 No Comments »

Well that didn’t take long – demand to buy a home is now back above its so-called 
“pre-coronavirus levels,” per a new analysis from real estate brokerage Redfin. The company said demand was a seasonally-adjusted 5.5% higher during the week ... Read More »

Payment Deferral Will Be an Option to Repay Mortgage Forbearance

Payment Deferral Will Be an Option to Repay Mortgage Forbearance
May 14, 2020 No Comments »

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac have launched a new payment deferral option in light of the unprecedented disruption caused by the coronavirus. The new workout option, known as “COVID-19 payment deferral,” ... 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 »

It’s Now Possible to Get a 2.5% Mortgage Rate on a 30-Year Fixed

It’s Now Possible to Get a 2.5% Mortgage Rate on a 30-Year Fixed
May 13, 2020 No Comments »

Here’s a good sign mortgage rates might be moving even lower than they already are. Pontiac, Michigan-based United Wholesale Mortgage (UWM), which refers to itself as the #1 wholesale lender in the nation, has launched an exclusive new program that ... Read More »

Mortgage Forbearance Rate Up Near 8%, Housing Assistance Fund Proposed

Mortgage Forbearance Rate Up Near 8%, Housing Assistance Fund Proposed
May 11, 2020 No Comments »

The mortgage forbearance rate increased again last week, rising to 7.91% from 7.54% a week earlier, per the Mortgage Bankers Association (MBA). That marked the smallest weekly increase (4.91%) since the newly-created Forbearance and Call Volume Survey was launched, but ... 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 »

Nearly 4 Million Homeowners Now in Mortgage Forbearance Plans, Servicers May Get $500 Payments

Nearly 4 Million Homeowners Now in Mortgage Forbearance Plans, Servicers May Get $500 Payments
May 5, 2020 No Comments »

The mortgage forbearance rate worsened yet again compared to last week, though as expected the increase has slowed as the pool of borrowers grows larger. As of April 26th, some 3.8 million homeowners were in forbearance plans, per the Mortgage ... Read More »

Loan Servicers Accused of Providing Unclear and Dated Mortgage Forbearance Information

Loan Servicers Accused of Providing Unclear and Dated Mortgage Forbearance Information
April 30, 2020 No Comments »

While some have complained that the mortgage forbearance program under the CARES Act is far too liberal, a new report claims some loan servicers aren’t being very transparent about the assistance available to homeowners. A new report from the U.S. ... Read More »

NewDay USA Mortgage Review: A Mortgage Company Designed for Veterans

NewDay USA Mortgage Review: A Mortgage Company Designed for Veterans
April 29, 2020 No Comments »

Today we’ll review NewDay USA, a mortgage lender that is geared specifically toward veterans and active duty military. Like other mortgage companies, they offer both home purchase loans and refinance loans, but only those backed by the United States Department ... Read More »