30-year mortgage
Obama Hasnât Refinanced His Mortgage in Seven Years
Despite a push to allow more Americans to refinance their mortgages (Harp 2.0), the Obamas havenât taken the time to refinance their own, according to a disclosure released yesterday by the White House. The financial disclosure revealed that as of the end of 2011, the 30-year mortgage (not sure if that means fixed or just [&hellip
The post Obama Hasnât Refinanced His Mortgage in Seven Years first appeared on The Truth About Mortgage.
Where Americans Are Most and Least Financially Literate â 2021 Edition
Individuals with higher levels of financial literacy tend to adhere to better financial practices – such as having an emergency fund and planning for retirement – and are also more likely to build wealth further by investing in the stock market. Many Americans, however, lack financial … Continue reading →
The post Where Americans Are Most and Least Financially Literate – 2021 Edition appeared first on SmartAsset Blog.
7 Signs itâs Time for a Mortgage Refinance
Maybe youâve considered refinancing your mortgage, but youâve only dipped your toe in the exploratory waters. Is now the right time? Will rates stay low? Could they go lower? It can be hard to know when to take the plunge. Whether you purchased a home recently or bought a home years ago, you probably noticed […]
The post 7 Signs itâs Time for a Mortgage Refinance appeared first on SoFi.
How Does a Credit Score Affect your Mortgage Rate?
Among the things that lenders look at when you make a mortgage application is your credit score. It determines whether you qualify for the loan or not. It also plays a big role on the principal amount and interest rates. Typically, a high score translates to healthy financial management hence lower risk of defaulting. This […]
The post How Does a Credit Score Affect your Mortgage Rate? appeared first on Credit Absolute.
Median 30-Year Mortgage Rates Over the Past 42 Years
Everyone knows mortgage rates are low. But just how low are they compared to historical averages, or should I say, medians? Well, fortunately John Burns of John Burns Consulting did the math for us in a recent newsletter. Currently, 30-year fixed mortgage rates for conforming mortgages sit at 3.51%, on average, per the latest Freddie [&hellip
The post Median 30-Year Mortgage Rates Over the Past 42 Years first appeared on The Truth About Mortgage.
11 Ways to Build Home Equity
These days, home equity is booming thanks to rapidly appreciating property values. At last glance, total equity on mortgaged properties exceeded $10 trillion, with more than $6.5 trillion of it tappable, per recent figures from Black Knight. Yes, that’s a “T” not a “B.” But you would of never guessed it less than a decade [&hellip
The post 11 Ways to Build Home Equity first appeared on The Truth About Mortgage.
Down Payments Explained (How Much Should You Pay?)
Preparing for a big-ticket purchase? Be sure to learn about down payments beforehand. Itâs pretty rare to buy a house, car, wedding ring, or any type of expensive item in all-cash without draining your savings, so many people turn to…
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The post Down Payments Explained (How Much Should You Pay?) appeared first on MintLife Blog.
What Mortgage Term Is Best?
Mortgage Q&A: âWhat mortgage term is best?â Before you set out to snag the lowest rate on your purchase mortgage or mortgage refinance, youâll need to decide on (or at least narrow down) a mortgage term. I’m referring to the amount of time it will take to pay off your home loan in full. The [&hellip
The post What Mortgage Term Is Best? first appeared on The Truth About Mortgage.
Should You Only Buy a House If You Can Afford a 15-Year Fixed Mortgage Payment?
Iâve already written at length about the pros and cons of a 15-year fixed mortgage, but some financial experts claim you shouldnât even buy a home if you canât afford this shorter-term mortgage option. You know, guys like Dave Ramsey, and perhaps more reasonable folks like that financial planner you visited recently. The problem is [&hellip
The post Should You Only Buy a House If You Can Afford a 15-Year Fixed Mortgage Payment? first appeared on The Truth About Mortgage.