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Mortgages

10
Feb

30-Year Mortgage Rates Hits 5.05 pct.

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30-Year mortgage rates have topped 5 percent this week for the first time since April. Higher rates could further hamper the struggling housing market ahead of the spring’s prime home-buying season

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Category : Loans News | Mortgages | Blog
3
Feb

Refinancing Your Home: When Does It Make Sense to Refinance?

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Refinancing your home in 2011 may be just the thing to do as mortgage rates hit an all-time low last year. The popular 30-year fixed-rate mortgage fell to 4.19 percent in early October, but has since risen to 4.74 percent, according to figures from mortgage financier Freddie Mac.

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Category : Home Equity | Money Saving Tips | Mortgages | Blog
23
Dec

Mortgage rates edge down after 5 weeks of gains

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Mortgage rates on fixed loans dipped after rising for five weeks in a row.

Still, they remain more than a half-point higher than last month and are at the highest level since late spring.

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Category : Economy News | Mortgages | Real Estate News | Blog
19
Dec

FHA Loan Programs

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FHA Loan Programs

 

FHA loan programs exist to offer help (such as fha loan down payment assistance)  to qualified American home buyers who wish to obtain an FHA loan.

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Category : Loans News | Mortgages | Blog
19
Dec

FHA Loan Calculator

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FHA Loan Calculator -How To Qualify For FHA Loan

Use this FHA loan calculator to see if you qualify. For more information on how to qualify for fha loan read the FHA loan requirements. You can see below for more FHA Loan Calculators.

See if your income is sufficient to qualify:
Desired Mortgage for New Home
Mortgage Length
Years
Interest
%
Annual Tax
Total Monthly Payments in Non-Mortgage Debt
(i.e.
car, student loans, credit cards, etc).

Summary:
Monthly Principal + Interest
Total Housing Payment (tax & insurance included)
Required Salary

Your salary must meet the following two conditions:

  1. Your gross (pre-taxes) monthly salary must be greater than 28% of
    the sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 35% of
    the sum of the monthly mortgage, monthly tax and other monthly debt
    payments.


DISCLAIMER: The prequalification figures above
are based upon conventional program guidelines. Other loan programs
are available. Calculations by this tool are believed to be accurate,
yet are not guaranteed. Further review is necessary to obtain an exact
qualification. If you have less than 20% equity in your home, a monthly
mortgage insurance payment may be required.
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Category : Loans News | Mortgages | Blog
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