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Most Renters Are Paying Far More Than Their Landlord’s Mortgage

June 6, 2023 by Robby Oakes

It is not uncommon for renters to pay more in rent than their landlord’s mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than the cost of their mortgage.

Filed Under: Mortgage Tagged With: Mortgage, Mortgage Payment, Renting

S&P Case-Shiller Home Price Indices Show Mixed Readings in March

June 2, 2023 by Robby Oakes

Homeowners took a “wait and see” position as mortgage rates rose and concerns over the economy persisted. Those who refinanced their mortgages to low rates during the pandemic weren’t looking to buy new homes or refinance at current mortgage rates near seven percent. Prospective homebuyers faced affordability challenges and concerns over buying at the top of their local real estate markets.

Filed Under: Financial Reports Tagged With: Case Shiller, Financial Reports March readings for the S&P Case-Shiller National Home Price Index showed that month-to-month home prices rose by 0.40 percent in March. The 20-City Home Price Index, which is considered a benchmark indicator by U.S. real estate professionals

Does My Current Debt Affect Getting A New Mortgage?

June 1, 2023 by Robby Oakes

It’s important to manage your debt carefully and maintain a good credit score if you’re planning to apply for a new mortgage. By evaluating the following and staying on track, you can ensure that you’re ready for the financial responsibilities of a mortgage and can make an informed decision about homeownership.

Filed Under: Mortgage Tagged With: Credit Score, Debt to Income, Mortgage

An Overview Of Mortgage Points

May 31, 2023 by Robby Oakes

There are two types of mortgage points: discount points and origination points. Discount points are used to buy down the interest rate on the loan, while origination points are used to cover the lender’s administrative costs.

Filed Under: Mortgage Tagged With: Mortgage, Mortgage Points, Mortgage Rates

What’s Ahead For Mortgage Rates This Week – May 30, 2023

May 30, 2023 by Robby Oakes

Homeowners weren’t in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

Understanding the Basic Interest Rates Difference Between Fixed and Variable

May 26, 2023 by Robby Oakes

Home loans are available in an assortment of lending packages, but the big difference that consumers need to pay attention to at a minimum is how the interest charge is calculated. Interest is the margin that represents the profit and risk offset for a lender financing a consumer’s home purchase.

Filed Under: Mortgage Tagged With: Fixed, Interest Rates, Mortgage

What is the Difference Between a Reverse Mortgage and a Home Equity Conversion Mortgage?

May 25, 2023 by Robby Oakes

A reverse mortgage and a home. equity conversion mortgages (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two.

Filed Under: Mortgage Tagged With: Home Equity, Mortgage, Reverse Mortgage

Running A Quick Financial Health Check Before You Apply For A Mortgage

May 24, 2023 by Robby Oakes

Getting a mortgage is a significant financial decision, and it is crucial to ensure that you are financially prepared before applying for one. Conducting a quick financial health check before applying for a mortgage can help you determine your financial standing and your ability to afford a mortgage payment.

Filed Under: Mortgage Tagged With: Credit Check, Mortgage, Mortgages

Mortgage Approval With An Unconventional Job – How Does It Work?

May 23, 2023 by Robby Oakes

It’s also worth noting that the type of property you are seeking to purchase, as well as your credit history, debt-to-income ratio, and other financial factors, will all play a role in the lender’s decision. So while an unconventional job may not be a deal-breaker, it’s important to make sure your overall financial profile is strong before applying for a mortgage.

Filed Under: Mortgage Tagged With: Mortgage, Mortgage Approval, Unconventional Job

What’s Ahead For Mortgage Rates This Week – May 22, 2023

May 22, 2023 by Robby Oakes

Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

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Recent Articles

  • Most Renters Are Paying Far More Than Their Landlord’s Mortgage
  • S&P Case-Shiller Home Price Indices Show Mixed Readings in March
  • Does My Current Debt Affect Getting A New Mortgage?

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