Mortgage Impounds vs. Paying Taxes and Insurance Yourself
March 20, 2021
If youâve been researching mortgages, or are in the process of taking out a home loan, youâve probably come across the term âimpoundsâ or âescrows.â When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip
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10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!)
March 20, 2021
Everyone likes a discount, right, even if itâs on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. Itâs obviously even sweeter if you get a discount on a big-ticket item, as the savings will be much larger. Better yet, how about a [&hellip
The post 10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!) first appeared on The Truth About Mortgage.
Why You May Want to Switch Mortgage Companies
March 20, 2021
Loyalty? Not in the mortgage business. That is, if you actually want to save money on your home loan. A few years back, an HSBC survey revealed that 52% of U.S. homeowners âswitched providersâ (sorry, theyâre British) when obtaining subsequent mortgages. This was mainly driven (53%) by the desire to get a better deal, aka [&hellip
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10-Year Mortgages vs. the 30-Year Fixed: Which Is Better?
February 4, 2021
Itâs time for another mortgage match-up folks. Today, weâll look at 10-year mortgages versus the 30-year fixed mortgage to see how these home loans stack up against one another. Before we get started, itâs important to note that there are two very different types of 10-year mortgages out there. One a fixed-rate mortgage that is [&hellip
The post 10-Year Mortgages vs. the 30-Year Fixed: Which Is Better? first appeared on The Truth About Mortgage.
Itâs Taking a Really Long Time to Get a Mortgage Right Now
February 4, 2021
Similar to the increased waiting times to get a COVID-19 test these days, itâs taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip
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Does a Refinance Require an Appraisal?
February 4, 2021
Mortgage Q&A: âDoes a refinance require an appraisal?â A reader recently asked if they needed an appraisal to refinance their existing mortgage, knowing they can often add weeks to the loan process. As with anything in the mortgage realm, the answer is it depends. Mainly, it depends on the type of loan you plan to [&hellip
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Movement Mortgage taps new president to align operations and sales team
January 26, 2021
Promoted executive will help accelerate the firm’s growth and expansion Source: mpamag.com
Mortgage Rates vs. a Potential War with Iran
January 25, 2021
Well, itâs a new year and it certainly didnât begin quietly. Might as well address the elephant in the room when it comes to your mortgage. This isnât the first time Iâve discussed the possibility of war and its impact on mortgage rates, with the last discussion centered on the Syrian conflict back in 2013. [&hellip
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United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%
January 25, 2021
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip
The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.
Why Adjustable-Rate Mortgages Are Bad News Right Now
January 25, 2021
With mortgage interest rates as low as they are at the moment, you may be looking beyond fixed-rate options if youâre in the market to purchase a home or refinance an existing home loan. After all, while 30-year fixed mortgage rates are hovering around 2.75%, some adjustable-rate mortgages are in the very low 2% range. [&hellip
The post Why Adjustable-Rate Mortgages Are Bad News Right Now first appeared on The Truth About Mortgage.
