The Truth About Mortgage Blog
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! So what are you waiting for? Let's go! View all mortgage help topics to get started or check out the latest mortgage tips and news below.
Latest Posts
2019 Mortgage Rate Forecast: We Could Be in for a Big Surprise
Just like that another year has passed, well almost, so it’s time once again to look forward to what the next 365 days might bring. Will 2019 be a winner for mortgage rates, or will home buyers and refinancers face ... Read More »
2019 FHA Loan Limits Rise: Floor Climbs Above $300k
Following the release of the 2019 conforming loan limit, HUD announced the 2019 FHA loan limits, which like the former will move higher next year. Similar to conforming loans, FHA loans have loan amount limits set either at the floor, ... Read More »
Home Prices vs. Recessions
There have been three recessions since the 1990s, including the Great Recession, which took place from 2007 and 2009 and lasted about a year and a half. Earlier, a recession took place in 1990 thanks to growing inflation and debt, ... Read More »
2019 Mortgage and Real Estate Predictions
First off, here are my 2018 predictions in case you want to see how they panned out. Overall, I think I did alright, though my call for the 30-year fixed to end 2018 at 4.5% didn’t quite materialize. There’s actually ... Read More »
10 Things You Should Do Before Applying for a Mortgage
I once wrote that you should look for a mortgage before searching for a property to buy because unless you have lots of cash, you’re going to need a loan. Now let’s talk about what you should do before you ... Read More »
2019 Conforming Loan Limit Will Be $484,350 for Mortgages Backed by Fannie and Freddie
As expected, the conforming loan limit for 2019 has increased thanks to an ongoing rise in property values, according to a news bulletin released by the Federal Housing Finance Agency (FHFA) this morning. Beginning in 2019, the maximum loan amount ... Read More »
The Cash Out Refi Share Is Above 80%, But There’s a Catch
While it would appear that borrowers are using their homes as ATMs again, it’s a bit misleading. Yes, the share of home mortgage refinances that resulted in cash out rose above 80% in the third quarter, per Freddie Mac data, ... Read More »
Can I Lower My Mortgage Interest Rate Without Refinancing?
Here’s an interesting one. Is it possible to snag a lower mortgage rate without refinancing? While it’s not all that difficult to refinance a home loan, it does take a bit of time and energy, and you generally need to ... Read More »
What Is Verification of Employment for a Mortgage?
When you apply for a mortgage, underwriters will comb through your finances to determine if you’re a good candidate for a loan. This includes verifying a lot of personal information, including your income, assets, credit history, and employment. Without these ... Read More »
Wells Fargo the Top Mortgage Lender in 2017, Quicken Tops for Number of Loans
Despite closing a higher number of mortgage loans last year, Quicken was unable to wrestle the coveted top spot away from Wells Fargo, per HMDA data parsed by iEmergent. During 2017, the under-fire San Francisco-based bank managed to fund $93 ... Read More »
