Refinance

Do Mortgage Inquiries Affect Credit Score?

Mortgage Q&A: “Do mortgage inquiries affect credit score?” When preparing to take out a mortgage, you may have concerns about your credit report being pulled numerous times within a short period of time. This can occur while shopping for that perfect mortgage with multiple mortgage lenders or mortgage brokers over the span of a few [&hellip

The post Do Mortgage Inquiries Affect Credit Score? first appeared on The Truth About Mortgage.

Mortgage Rates vs. the World Cup

Happy World Cup opening day everyone. I like soccer (and mortgages) so I tried desperately to come up with a way to combine both subjects. After a little bit of thought, I decided to track mortgage rates over the years during past World Cups.  Let’s go back in time and take a look at where [&hellip

The post Mortgage Rates vs. the World Cup first appeared on The Truth About Mortgage.

The Refinance Rule of Thumb

How Much Lower Should Mortgage Rates Be to Refinance? Unfortunately there is no one-size-fits-all answer Because no two loan scenarios are the same You have to factor in existing home loan details And future plans/financial objectives/tenure in home, etc. If you’re considering refinancing your mortgage, you may have searched for the “refinance rule of thumb” [&hellip

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Why Every Mortgage Lender Will Disappoint You

People constantly ask me if a particular lender is good, bad, or should be avoided at all costs. They also ask who the best mortgage lender is, often citing some customer satisfaction survey or what not. Or whether they should use a mortgage broker or a bank. And my answer is pretty much always the [&hellip

The post Why Every Mortgage Lender Will Disappoint You first appeared on The Truth About Mortgage.

5/1 ARM vs. the 30-Year Fixed : Pros and Cons

Here we go again…it’s that special time where I compare two popular home loan programs to see how they stack up against each other. Today’s match-up: “5/1 ARM vs. 30-year fixed.” Everyone has heard of the 30-year fixed-rate mortgage – it’s far and away the most popular type of mortgage loan out there. Why? Because [&hellip

The post 5/1 ARM vs. the 30-Year Fixed : Pros and Cons first appeared on The Truth About Mortgage.

Chase Now Requires a 700 FICO and 20% Down to Get a New Mortgage

Following in the footsteps of many other mortgage lenders of late, JP Morgan Chase has upped its minimum requirements to get a home loan. Once again, it has to do with COVID-19, which has led to a flood of unemployment filings and a general fear that many homeowners will begin to default on their mortgages. [&hellip

The post Chase Now Requires a 700 FICO and 20% Down to Get a New Mortgage first appeared on The Truth About Mortgage.

Is Mortgage a Good Debt or a Bad Debt?

You may have heard that mortgage is a “good debt,” in that it’s okay to carry a multi-hundred-thousand-dollar loan for decades on end. While that may sound counterintuitive to the many anti-debt folks out there, such as Suze Orman or Dave Ramsey, there is actually some real truth to it. Why Mortgage Is a Good [&hellip

The post Is Mortgage a Good Debt or a Bad Debt? first appeared on The Truth About Mortgage.