Home Loans

Get Your Credit Score When Applying for Auto Loan and Home Loan

In case you’re applying for a credit or loan, particularly for a large purchase such as a house or auto, at that point you have to know how to get your credit score. This is the information that is held by credit report organizations so financial institutions can discover how good you are with your … Read More

What is a Good Credit Score to Buy a Home?

The first thing you have to do when you decide upon buying a house is cleaning up credit. It might take a while, it might take some weeks, but without doing that you will only be subject to extremely high interest rates and huge monthly payments, so unless you want that, read on about how … Read More

Mixed Foreclosure Data

  Mixed Foreclosure Data According to real estate data company RealtyTrac, more than 45,000 homes were foreclosed nationwide in April, an increase of 50% from a year earlier and the highest level in a year and a half.  The number of foreclosures increased in thirty-three states in April, but was still only about half the … Read More

The Return of the 3% Down Payment Conventional Mortgage

  The Return of the 3% Down Payment Conventional Mortgage Remember not too many years ago when you could get a conventional mortgage with adown payment in the single digits?  If you thought those days would never return then Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”)have a … Read More

FHA Insurance Premium Cut

  FHA Insurance Premium Cut The Federal Housing Administration is expected to reduce the insurance premiums on mortgages it insures effective at the end of January. The current rate of 1.35% of the loan amount will be reduced to .85% after having been raised five times since 2008. This change could potentially benefit hundreds of … Read More

CFPB Misses Deadline; Delays New Rules

  CFPB Misses Deadline; Delays New Rules As reported earlier this month by GoodCredit.com, new mortgage disclosure rules promulgated by the Consumer Financial Protection Bureau have been scheduled to go into effect August 1, even though many mortgage lenders are probably not ready to comply. For loan applications submitted after this date, a new closing … Read More

Slowing Home Price Growth

  Slowing Home Price Growth Home prices have been rising slower for ten consecutive months, according to the Standard &Poors/Case-Shiller National Home Price Index.  For October (the most recent month reported) single-family home prices were increasing at an annual rate of 4.6%, versus an annual rate of 4.8% for September.  By contrast, these prices were … Read More

Falling Home Sales in November

  Falling Home Sales in November According to recent housing reports the housing market is slowing.   The United StatesDepartment of Commerce estimated November sales of new single-family houses at a seasonally-adjusted annual rate of 438,000.  This figure is below the downwardly-revised October estimate and the figure from November of the previous year, both of which … Read More