Mortgages

What Do Buyers and Sellers Pay in Closing Costs?

Rarely does a buyer or seller show up to the closing without knowing exactly what their costs of sale will be. In fact, based on the mortgage loan amount of the purchase/sale price, it’s not hard to ballpark either side’s closing costs. Before you get too far along in the process, ask your real estate agent or

How Will Britain’s Exit From the EU Affect U.S. Mortgage Rates?

Financial market turmoil can be good for mortgage rates. Don’t forget this concept as you continue to read headlines about how a “Brexit” is wreaking havoc on markets. Brexit is slang for Britain’s vote Thursday, June 23 to exit the European Union (EU), which is a political and economic union allowing free trade and movement of

Here’s Why Your Debt-to-Income Ratio Matters

Home shoppers eager to qualify for a mortgage could get turned down because of a number they’ve never heard of: their debt-to-income ratio (DTI). If you’re a bit hazy on DTI, you’re in good company. According to Fannie Mae’s Economic & Strategic Research (ESR) Group, more than half of consumers surveyed weren’t sure what it

4 Ways To Ensure Your Online Lender Is Credible

Today, most mortgage shoppers start their process online. It’s so efficient that even the mortgage industry’s main regulator recommends it. But how do you ensure a lender you find online is credible? Here are the top five ways. Define your terms Specifically, know the difference between an “online lender” and a lender you found online.