Review Mortgage Lenders

Mortgage Now

Mortgage Now - News

Real Estate Matters | CFPB's new 'qualified mortgage' rule now in effect
Real Estate Matters | CFPB's new 'qualified mortgage' rule now in effect Last week, the Consumer Financial Protection Bureau's (CFPB) new qualified mortgage (also known as the ability-to-repay) rule went into effect. The new rule is about helping borrowers understand the true costs of the mortgage they apply for. On the

Has the time come for a five-year mortgage fix?
Has the time come for a five-year mortgage fix? If you're on a cheap lifetime tracker mortgage, moving to a fixed-rate deal probably isn't going to stack up financially when you look at what you are paying now versus what you'll pay if you switch. The same applies to many of those sitting on

Mortgage Rates Fall Again, 30-Yr Rate Now 4.39%
So far in 2014 Treasury yields have defied expectations by falling rather than rising, and that's helped mortgage rates fall for a second straight week. The average 30-year fixed-rate mortgage rate slid to 4.39% in the week ended today, down from 4.41

Current Mortgage Home Loan Rates at TD Bank on January 23, 2014
Current Mortgage Home Loan Rates at TD Bank on January 23, 2014 The borrowers looking forward to acquire standard, long term home loans can go for the 30 year fixed rate mortgage deals that are now advertised at an interest rate of 4.562% and an APR yield of 4.676% today. On the other hand, the relatively shorter, 

Mortgage NOW-Commercial-Retro.mp4

Mortgage NOW is our latest success story. The client needed a 30 second commercial to be displayed at local Retro Fitness facilities that had the ...

Quicken Loans will now let Vrbo hosts use rental income to refinance their mortgage

According to Quicken, homeowners can use Vrbo income to qualify for a refinance as long as the rental income comes from a primary residence or a second home.

And, Quicken said that borrowers can use the Vrbo refi program on primary residences, vacation homes, and investment properties.

So, while the income has to come from a borrower’s primary residence or second home, they can use the Quicken Vrbo refi on other properties as well.

According to Quicken, it is the only lender that allows borrowers to use Vrbo income to qualify for a mortgage.

Quicken said that it is able to use the income generated from Vrbo rentals in the underwriting process thanks to confirmed and documented rental income information that comes directly from Vrbo.

“Homeowners’ Vrbo income that is used to qualify for a mortgage is accurate, real-time recorded data,” Quicken Loans said in its announcement. “They can get their earnings statements from Vrbo to share with their Quicken Loans mortgage banker.

Mortgage rates today, April 17, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy

What’s driving current mortgage rates?

As we feared, average mortgage rates edged up again yesterday. It was the third consecutive business day of rises and rates were last this high on Mar. 20. The good news? Rates on Mar. 20 were at their lowest level in the previous 12 months, according to Mortgage News Daily.

Might there be some relief soon? Maybe. However, GDP numbers for China were published overnight and were much better than expected. Recently released corporate earning figures for American companies have also pleasantly surprised markets, as did this morning’s figure for the deficit. So you might expect mortgage rates to rise again.

However, the data below the rate table are indicative of mortgage rates holding steady today or just inching either side of the neutral line. But, of course, that could change if new factors create a different mood in markets. And the Fed will be publishing its monthly beige book later this afternoon. That’s a snapshot of regional economic conditions nationwide.

is it easy to obtain an FHA mortgage now after you have been turned down for a conventional mortgage?

I am selling my house and am in contract with a buyer who has agreed on a price of 320K and has put down an initial down payment of 17.5K.

Possibly, depending upon the reasons for the declined conventional mortgage. Most likely, the lender for the conventional mortgage wanted a bigger down payment (10% or more). However, the $17.5K would cover the 3.5% down payment required by FHA.