The Los Angeles Times reported that mortgage applications that were approved in the recent past had an average FICO score of 764. The survey included approximately 20 percent of nationwide mortgage applications. The successful borrowers made an average down payment of 22 percent. The credit score needed for home refinancing was slightly higher, estimated at 770 on average.
If you have been finding it increasingly difficult to pay the bills or have sudden expenses that have pushed you into further debt, it’s time to start thinking about your financial options.
If you're looking for a mortgage today, a one-year fixed term might be right for you. Here are the pros and cons of going short with your mortgage:
If you are in the camp that prefers to pay off the mortgage as quickly as possible, there are a few strategies you can use to get to the point where you can truly say that you own your home.
As part of the government’s settlement with five of the country’s largest banks, there is money available to help borrowers refinance their mortgages.
The Federal Reserve just announced an open-ended quantitative easing program that will pump $40 billion a month into the economy in the attempt to stimulate growth. If you haven’t bought a home, now is a good time to start thinking about it.
One of the goals that many people have is to pay off the mortgage early. But is it always a good idea to pay off your mortgage early?
Before you even apply for a mortgage you should prepare and plan for how you are going to answer these questions from your lender.
The mortgage forgiveness tax break is set to expire at the end of this year. Will this law that offers some relief for those unable to make payments or in possession of a property with diminished value be extended?
Let’s get one thing straight; refinancing your home does not mean that you’re paying off your debt. Now, there are plenty of possible reasons to refinance, and equally sensible reasons to avoid it. Here are a few scenarios that may force you to consider a refinance.
