mortgage loan

/ / / / /

Mortgage Payments in Coral Springs Are Cheaper than Rent

  It is thought by many that renting a home is a lot better than buying a home. People think that it is feasible to rent then to buy. They think that they will be saving money. However, a recent report has shown that buying a home may be cheaper than renting. Kelly and John Foley moved to South Florida from Michigan. They started out by renting a two-bedroom house in Oakland Park for $1,650 a month. Later on, in March, they paid $190,000 for a three-bedroom house with a pool in Delray Beach. The new house is bigger than the place they were renting and they had a cheaper mortgage of which they paid only $1,430 a month. Kelly Foley is so happy with her decision of buying a…
/ / /

FHA Back to Work Program Helps Homeowners Again

  There are an increasing amount of homeowners who have either sold their homes in a short sale or lost their homes in a foreclosure. Normally, in either situations, the homeowners would have to wait for 36 months to pass by until they would be able to buy a primary residence again with an FHA fixed-rate loan. Amazingly enough, the FHA Back to Work Program has been extended all the way through September 30, 2016, giving potential buyers an opportunity to purchase a primary home in just 12 months after a short sale or foreclosure. The FHA Back to Work Program was first announced in 2013. It strives to fulfill one heavy-weighted goal and that is to offer families a second chance at homeownership. To qualify for this program, the…
/ /

U.S. Mortgage Rates Rise Again

  Freddie Mac announced on Thursday, April 3, 2014 that the average 30-year fixed rate loan went up from 4.40% to 4.41%. The average 15-year mortgage rate increased also from 3.42% to 3.47%. Despite the recent mortgage increase, the rates have remained at historically low levels. How exactly is the average mortgage rate calculated? Freddie Mac surveys lenders all across the nation between Mondays and Wednesdays of each week. When the average is calculated, the extra fees, also known as points, are not included. Borrowers pay for points to help them get the lowest rates. One point is equivalent to 1% of the loan. As the mortgage rates increased, so did the average fees. The 30-year mortgage fee rose from 0.6 points to 0.7 points. The 15-year loan fee stayed…
/ / /

What are VA Home Loans?

  The word “veteran” refers to someone who has served in the armed forces. Included in the group known as veterans are those individuals who have served in the Army, Navy, Marine Corps, Air Force, and Coast Guard. Veterans do a lot for our country.  They fight for our country in war. They are trained and prepared. In 1865, President Lincoln stood on the Capitol and addressed the nation on the results of the Civil War. He made a promise to the nation’s veterans. He promised “To care for him who shall have borne the battle, and for his widow, and his orphan.” In laments terms, President Lincoln vowed to serve and honor the men and women who served America. He boldly stated to everyone in the United States that…
/ / /

Wells Fargo & Co Cuts More Jobs

  Since last year, Wells Fargo & Co has been treating workers like disposable paper towels. They have cut 7,000 jobs, including another 700 just last week, from their home loan division, that’s a cut of nearly 12%.  This is bad news for the country’s largest residential loan company. The trend of large mortgage lending companies cleaning house is nothing new as many companies have been doing it for a while now. When the mortgage crisis first hit a few years ago, large banks hired tons of workers to help with the rash of foreclosures. Now that the number of foreclosures is down dramatically and the housing market is getting back to normal, banks have no need for all the extra workers. This is a good sign for those looking…
/ / / / / / / / / / / / / / / / / / / / / / /

New Mortgage Lending Rules in 2014 Protect Borrowers

Purchasing a house in Plantation, FL can be a complicated experience, especially if you’re a first-time homebuyer. It’s important to stay informed on the latest trends in the housing market. The calendar year isn’t the only thing that has changed.  New mortgage rules issued by the Consumer Financial Protection Bureau have already taken effect. Many people are worried these new standards will make home shopping more challenging. But that may not necessarily be the case. The goal is to make sure the borrower can repay their mortgages. The housing recession sometimes brought out the worst in people. Many companies abused the lending system and often used predatory and risky home lending practices. Fortunately, most of these activities have been eradicated from the housing market.  While the new rules issued by…
/ / / / / / / / / / / / / / / / / / / / / / /

Secure a Mortgage Loan in Boca Raton

  When it comes to finding a place to live in South Florida, many people are quick to check out popular vacation destinations like Miami or Key West. However, South Florida is a large place with plenty of homes to choose from. Many people are opting for places like Boca Raton which offer all the beauty of South Florida without all the commotion of Miami. Many people choose Boca Raton as a retirement destination because of the unique location and laid back atmosphere. Those who are looking for a new home loan in Boca Raton should find an excellent mortgage broker like at Ace Mortgage Loan Corporation. What do Donald Trump, Pete Rose, Jon Bon Jovi and Marilyn Manson have in common? They have all owned a home in Boca…

Contact Us