Question: “I’m trying to choose the best time to apply for a home loan, based on what the rates are doing. Are mortgage rates going up or down right now? How do I follow the trends?”
Over the last few weeks mortgage rates have been going down. In fact, Freddie Mac sent out a news release [...]
Mortgage Rates | admin | 
July 29, 2010 5:36 pm | 
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Reader Question: “I have heard that a lot of borrowers these days are using FHA home loans to buy a house. My home is about twenty years old, and I want to make sure it passes muster with the FHA home inspector. How can I make sure my house will pass inspection for one of [...]
FHA Refinance | admin | July 28, 2010 7:05 pm | Comments (0)
Question: “I want to use an ARM loan to get a lower rate. But I’m not sure how the interest rate will behave in the long run. How do I determine the new rate on an adjustable-rate mortgage loan?”
The adjustable-rate mortgage (or ARM loan, for short) typically offers a lower rate than its fixed-rate counterpart. [...]
Frequently Asked Questions | admin | July 23, 2010 10:04 pm | Comments (0)
A recent survey we conducted showed that most buyers want to use an FHA home loan to purchase a house. These government-insured loans are particularly popular among first-time buyers. In this lesson, you’ll learn how to apply for an FHA loan the right way. We will cover everything from finding a lender to submitting your [...]
Applying for a Loan | admin | July 13, 2010 8:05 am | Comments Off
Reader question: “I’ve been told by a real estate agent that I should get pre-qualified for a mortgage, before I start shopping for a house. Is this true? What does the process entail? How do I get pre-qualified for a home loan?”
You don’t have to get pre-qualified before house hunting, but it might help you [...]
Applying for a Loan | admin | June 20, 2010 6:07 pm | Comments Off
I recently received an email from a mortgage shopper in Tucson, Arizona. I took the questions and answers from that email exchange and turned them into an article. Here are some frequently asked questions about Tucson home loans and lenders.
Tucson Home Loan FAQs
If you have additional questions that aren’t listed below, you might want to [...]
Question: “I’ve heard the closing costs can add up to thousands of dollars when buying a home. Where do all of these fees come from? What is included in mortgage closing costs?”
To answer your first question, these fees come from a variety of sources. Most of them are imposed by the lender. They are used [...]
Applying for a Loan | admin | June 14, 2010 7:30 pm | Comments Off
When you apply for a home loan, the lender will pull your credit report. This is one of the first things they do when you submit a loan application. Starting in June 2010, some lenders may do a second credit check just before the closing process. This comes in response to new guidelines and recommendations [...]
Applying for a Loan | admin | June 13, 2010 7:27 pm | Comments Off
A home equity line of credit (HELOC) is a way to pull cash out of your equity. But it’s not the only way to tap your equity. If you are thinking about using HELOC financing, you should look into the traditional second mortgage loan as well. They each have certain pros and cons associated with [...]
Types of Loans | admin | June 11, 2010 6:28 pm | Comments Off
Question: “I want to buy a home using an FHA loan, because my credit score is not good enough to get a regular mortgage. I’ve heard the FHA option is good for people with bad credit. Is this true?”
Many people with low credit scores use FHA home loans for this very reason. Generally speaking, the [...]
Bad Credit | admin | 1:48 pm | Comments Off
This blog offers mortgage loan information for homeowners. The information on this blog is intended for general education only. We are not acting as your financial advisor, nor should you make any financial decisions based solely upon the mortgage information we provide.
If you are planning to buy or refinance a home in the near future, we recommend that you learn everything you can about the subject before talking to lenders. That means you should continue your research beyond this website. We hope you find this mortgage information helpful.