The Truth About Mortgage Blog

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A warm and friendly (and most importantly objective) place to learn about mortgages, ideally before you make contact with a bank 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! See all mortgage help topics to get started.

Latest Posts

More than Half of Consumers Switch Mortgage Companies

More than Half of Consumers Switch Mortgage Companies
March 7, 2018 No Comments »

Loyalty? Not in the mortgage business. A new survey from HSBC revealed that 52% of U.S. homeowners “switched providers” (sorry, they’re British) when obtaining subsequent mortgages. This was mainly driven (53%) by the desire to get a better deal, aka ... Read More »

Ideal Credit Union Is Offering a Zero Down Mortgage with a Catch

Ideal Credit Union Is Offering a Zero Down Mortgage with a Catch
March 5, 2018 No Comments »

Ideal Credit Union, which has six locations scattered across Minnesota, is the latest mortgage company to offer a no down payment mortgage. But theirs is a little different than the rest. Instead of pitching the portfolio loan product to those ... Read More »

What Is a Gift Letter for a Mortgage?

What Is a Gift Letter for a Mortgage?
March 5, 2018 No Comments »

Mortgage Q&A: “What is a gift letter?” A reader recently inquired about mortgage gift letters, so instead of simply answering their question, I figured I’d write an entire post on the subject to help others better understand this topic. If ... Read More »

2017 Was the Best Year for Home Purchase Mortgages Since the Market Peak

2017 Was the Best Year for Home Purchase Mortgages Since the Market Peak
March 1, 2018 No Comments »

It turns out 2017 was a banner year for mortgages, just not all of them. A total of $1.148 trillion in home purchase mortgages were funded last year, the highest total since 2006, per new data from Inside Mortgage Finance. ... Read More »

HUD Homes: Buy a Foreclosed Home for a Potential Discount

HUD Homes: Buy a Foreclosed Home for a Potential Discount
February 27, 2018 No Comments »

With the red hot real estate market showing no signs of letting up, prospective home buyers need to get increasingly creative in order to land their dream home, or any home for that matter. The fact of the matter is ... Read More »

There Are Still Nearly 90,000 Borrowers Who Could Benefit from a HARP Refinance

There Are Still Nearly 90,000 Borrowers Who Could Benefit from a HARP Refinance
February 19, 2018 No Comments »

Before mortgage rates began their recent upward trajectory to start off 2018, quite a few mortgage refinances squeaked through the door. Some 446,295 refinances were completed by Fannie Mae and Freddie Mac in the fourth quarter of 2017, up considerably ... Read More »

loanDepot Has a 150-Day Rate Lock for Those Who Want Today’s Rates This Summer

loanDepot Has a 150-Day Rate Lock for Those Who Want Today’s Rates This Summer
February 14, 2018 No Comments »

I came across a flyer today from loanDepot advertising a 150-day rate lock for borrowers interested in today’s mortgage rates, who are worried (like everyone else) that they’ll be a lot higher later this year. It’s not unusual for mortgage ... Read More »

How Lenders Are Still Able to Offer Low Mortgage Rates Despite the Recent Uptick

How Lenders Are Still Able to Offer Low Mortgage Rates Despite the Recent Uptick
February 13, 2018 No Comments »

If you’ve been awake at any time over the past few weeks, you may have noticed that mortgage rates aren’t as low as they once were. What gives? Well, one downside to a strong economy is higher inflation expectations, and ... Read More »

Higher Mortgage Rates Likely to Have Little Effect on Housing Market

Higher Mortgage Rates Likely to Have Little Effect on Housing Market
February 12, 2018 No Comments »

Well, it’s been a stressful couple of weeks, and the way the stock market is swinging at the moment, it doesn’t appear to be abating. Grab your Tums, buckle your seat belt, and hang on. Don’t you love waking up ... Read More »

Airbnb Income Can Officially Be Used to Qualify for a Mortgage Refinance

Airbnb Income Can Officially Be Used to Qualify for a Mortgage Refinance
February 8, 2018 No Comments »

Call it a sign of the times, or perhaps the power of the sharing, or “gig” economy. You can now officially use Airbnb income to qualify for a mortgage refinance with select lenders. Yes, if you’ve been renting out your ... Read More »