borrowers: The Mortgage Mistake Nearly Half of Lapeer MI Borrowers Make
- 02/20/15 10:02 AM
This story from Catey Hill, The $25,000 Mortgage Mistake Nearly Half of Borrowers Make, talks about how many people pay to much for their mortgage ... Did you pay too much for your mortgage? If you’re like millions of Americans, the answer is probably yes — and that means you may be throwing tens of thousands of dollars of your hard-earned money at the bank, when you might not need to. A report released Tuesday by the Consumer Financial Protection Bureau finds that almost half (47%) of Americans don’t shop around for a mortgage when they purchase a home. “Consumers put great thought … (0 comments)
borrowers: Lenders: Don't Shrug Off Borrowers With Low Credit Scores
- 05/19/14 06:43 AM
That was the message from FICO to the mortgage industry in this article from RealtorMag dated 05/13/2014... Executives at FICO, the creator of a credit score widely used in the mortgage industry, say that the high credit score “cutoffs” that mortgage lenders imposed following the housing crisis are stricter than necessary, and executives urge lenders to consider lowering minimum score requirements. FICO credit scores that were once acceptable risks in the early 2000s — the 640 to 680 range — for mortgage applicants are rarer these days. In more cases, borrowers with FICO scores of 700 are struggling to get approved. … (0 comments)
borrowers: Low Mortgage Rates Can Work For You
- 11/11/10 07:46 AM
Just when it looked as if mortgage rates couldn't fall any further, they did... Rates on 30 year fixed rate mortgages hit an average of 4.3% in September, the lowest level since 1953, 15 year rates are even more mouthwatering at 3.8%. Those are averages. The most creditworthy borrowers can do even better, snagging rates perhaps a quarter of a percentage point lower. So what's in this for you? If you have a credit score of 720 or higher and at least 20% equity in your home, you might use these crazy low rates to shorten your mortgage term, free up … (0 comments)
This story from Catey Hill, The $25,000 Mortgage Mistake Nearly Half of Borrowers Make, talks about how many people pay to much for their mortgage ...
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