Can You Get Approved? Mortgage Qualifications for Buying a Home
Go to any mortgage lending website and you'll see images of smiling families and beautiful homes accompanied by text that makes it sound like lenders are standing by just waiting to help you find the loan that works for you regardless of your ...
Posted by Paula Henry on December 7, 2014 in Mortgage News and Info
Financial Advice and Your Mortgage Lender
When you begin your search for a new home, you will also be searching for the best loan program and lender for your specific needs. Knowing the terms and costs for your loan is crucial to making a good financial decision, since fees charged by a ...
Posted by Paula Henry on June 27, 2012 in Mortgage News and Info
What is Included in My Monthly Mortgage Payment?
After taking out a mortgage loan to purchase a home, you will be provided with a dollar figure that you must pay each month in order to repay your loan. Whether interested in Bethesda condos or a home in Indianapolis, it is helpful to have a clear ...
Posted by Paula Henry on March 2, 2012 in Mortgage News and Info
The Mortgage Interest Deduction - Keep It or Delete It
If you have turned on the TV lately, glanced at a headline, or heard your co-workers talking at the water cooler, you have no doubt heard about our nation’s debt crisis. The Obama Administration has charged both houses of Congress with coming ...
Posted by Paula Henry on November 19, 2011 in Mortgage News and Info
Your Next Home Program from Indiana Housing
Indiana Housing has been instrumental in providing no downpayment loan programs for first time home buyers. They now offer a loan program for home buyers who are moving up or buying their next home, aptly named the 'Next Home' program.
Many home ...
Posted by Paula Henry on June 8, 2011 in Mortgage News and Info
The Right Way To Take A Cash Gift For Downpayment
As lenders tighten mortgage guidelines for Indianapolis home buyers, minimum downpayment requirements are increasing. Several years ago, you could finance a home with nothing down.
Today, most conventional mortgages require at least 10 percent....
Posted by Paula Henry on May 28, 2010 in Mortgage News and Info
Mortgage Approvals Are Getting More And More Scarce
The economy's improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening. The data comes from the Federal Reserve's quarterly survey to its member banks....
Posted by Paula Henry on February 13, 2010 in Mortgage News and Info
Separating FHA Fact From Fiction : Mortgage Insurance Premiums
The mortgage lending landscape changes a lot. Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers in Indianapolis that aren't paying in cash.
The loan you get today won't always be the loan you ...
Posted by Paula Henry on February 10, 2010 in Mortgage News and Info
7 Ways To Protect Your Credit Score For Better Mortgage Rates
As mortgage lenders tighten approval standards in Indiana and nationwide, the importance of a good credit score is rising. Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also ...
Posted by Paula Henry on February 5, 2010 in Mortgage News and Info
First Time Home Buyers Down Payment Assistance
INDIANA HOUSING DOWN PAYMENT ASSISTANCE PROGRAM
If you are a first time home buyer in Indianapolis, you should know your financing options. The Indiana Housing Program for first time home buyers who are creditworthy, but may not have the initial ...
Posted by Paula Henry on February 3, 2010 in Mortgage News and Info
A Simple Explanation Of The Federal Reserve Statement (January 27, 2010 Edition)
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy 'has continued to strengthen', that the jobs markets is getting better, ...
Posted by Paula Henry on January 27, 2010 in Mortgage News and Info
New FHA Guidelines Will Make Loans More Costly
Securing an FHA mortgage is about to get more expensive when buying a home in indianapolis. In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce ...
Posted by Paula Henry on January 21, 2010 in Mortgage News and Info
The Bad Jobs Report Wasn't All Bad Mortgage Rates Fell
Despite the headlines, it's important to remember that December's jobs report wasn't all bad news.
Sure, the economy shed 85,000 jobs last month and the Unemployment Rate failed to dip below 10%, but for home buyers and rate shoppers in ...
Posted by Paula Henry on January 12, 2010 in Mortgage News and Info
Increase Your Mortgage Interest Tax Deduction
For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end ...
Posted by Paula Henry on December 12, 2009 in Mortgage News and Info
Previewing The New Good Faith Estimate
The new Good Faith Estimate makes its debut January 1, 2010. The new format will make it easier for Indianapolis home buyers to compare loans.
Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it ...
Posted by Paula Henry on December 6, 2009 in Mortgage News and Info
2010 Conforming Loan Limits
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac. Each year, the government sets the maximum allowable loan size for a conforming mortgage, based on 'typical' housing ...
Posted by Paula Henry on November 30, 2009 in Mortgage News and Info
Banks Raise Mortgage Qualification Standards
Despite the economy's improvement and prodding from Congress, banks don't seem ready to open their purse strings just yet. Nationally, mortgage approval . The data comes from a quarterly survey the Federal Reserve sends to its member banks....
Posted by Paula Henry on November 29, 2009 in Mortgage News and Info
One Reason Why Mortgage Rates Are Back To All-Time Lows
Home affordability improved this week after the Federal Reserve released its November 3-4, 2009 meeting minutes.
The FOMC Minutes is a companion to the Federal Reserve's post-meeting press release. It's released 3 weeks after the Fed ...
Posted by Paula Henry on November 28, 2009 in Mortgage News and Info
Fannie Mae Changes Will Thin the Indianapolis Buyer Pool
If you're thinking about buying an Indianapolis home in the next few months, you may want to move your date up. New Fannie Mae guidelines will make getting approved for an Fannie Mae loan more difficult. For the second time in less than 3 ...
Posted by Paula Henry on September 30, 2009 in Mortgage News and Info
Great News for First Time Homebuyers in Indianapolis
Indiana Housing and Community Development Authority (IHCDA) announced a much anticipated drop in their rates. Okay, it may only be me who was anticipating it; somehow, I think not. In October, Indiana Housing rates started moving up and have ...
Posted by Paula Henry on January 26, 2009 in Mortgage News and Info