mortgage market

Blue Spot Mortgage Review 2021

Sage Mortgage is an online mortgage broker that works with multiple wholesale lenders. The broker was founded in 2020.

The post Blue Spot Mortgage Review 2021 appeared first on The Simple Dollar.

Is This Your Last Chance to Refinance Your Mortgage?

Home loan rates just hit highs not seen since the beginning of the pandemic — and are expected to go higher.

Do You Qualify as a First-Time Homebuyer?

A first-time homebuyer isn’t just someone purchasing a first home. It can be anyone who has not owned a principal residence in the past three years, some single parents, and others. If the thought of a down payment and closing costs put a chill down your spine, realize that first-time homebuyers often have access to […]

The post Do You Qualify as a First-Time Homebuyer? appeared first on SoFi.

Why It’s Best to Apply for a Mortgage When Things Are Slow

A working paper from the National Bureau of Economic Research revealed that it might be best to apply for a mortgage when no one else is. The analysis, “The Time-Varying Price of Financial Intermediation in the Mortgage Market” (if you like light reading you should check it out), found that price changes on the secondary… Read More »Why It’s Best to Apply for a Mortgage When Things Are Slow

The post Why It’s Best to Apply for a Mortgage When Things Are Slow appeared first on The Truth About Mortgage.

Understanding Seller Concessions

Buying a new home requires managing a lot of moving parts, from mortgage preapproval to closing. Even after an offer is accepted, buyers and sellers are still at the negotiating table. If closing costs or surprise expenses become too much for the buyer, a seller concession could help seal the deal. Although seller concessions can […]

The post Understanding Seller Concessions appeared first on SoFi.

Obama Slashes Costs for FHA Streamline Refinances to Boost Market

In another effort to buoy the flagging housing market, the Obama administration announced today that it would essentially be removing the upfront mortgage insurance premium on streamlined FHA refinances. So homeowners who currently hold an FHA loan, looking to refinance into another FHA loan to lower their mortgage rate, will pay just 0.01% in upfront [&hellip

The post Obama Slashes Costs for FHA Streamline Refinances to Boost Market first appeared on The Truth About Mortgage.

Bank of America Has a Waiting List to Refinance

If you’re interested in refinancing your mortgage with Bank of America, you may be in for a big surprise. Per Bloomberg, the mega bank has been unable to keep up with demand, thanks in part to HARP Phase II, which is beginning to roll out. The program, which allows pretty much anyone to refinance, regardless [&hellip

The post Bank of America Has a Waiting List to Refinance first appeared on The Truth About Mortgage.

The Problem With Mortgage Rate Surveys

Every week, mortgage financier Freddie Mac comes out with a mortgage rate survey, which reveals the average interest rate (and points) charged by lenders for popular types of home loans. About 125 lenders from across the nation, including thrifts, mortgage lenders, credit unions and commercial banks, take part in the survey that dates back to [&hellip

The post The Problem With Mortgage Rate Surveys first appeared on The Truth About Mortgage.

Is a 2% 30-Year Fixed Mortgage a Real Possibility?

Week after week, mortgage rates continue to shatter records, and dip to levels no one thought was possible. It seems as if every month we have to revisit the conversation because what seemed like a bottom wasn’t. In fact, not too long ago a 30-year fixed mortgage in the 3% range seemed absurd. Now it’s [&hellip

The post Is a 2% 30-Year Fixed Mortgage a Real Possibility? first appeared on The Truth About Mortgage.