Real Estate Financing

Good credit is necessary for easily securing a home mortgage. But what if you don't have a credit score? First things first: most people do have a credit score. If you have debt of some kind, like a school loan or credit card, then you ...

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 ...

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 ...

You've found the Indianapolis home you want to buy and have been approved for a mortgage. Congratulations! You are on your way to being a homeowner. Now that you have approval, make sure you don't do anything to sabotage it. Since there may be 60 ...

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 ...

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, ...

  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 ...

APR is an acronym for Annual Percentage Rate.  It's a government-mandated calculation meant to simplify the comparison of mortgage options. A loan's APR can always be found in the top-left corner of the Federal Truth-In-Lending ...

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 ...

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 ...

An escrow account is a designated savings account into which funds get deposited for a specific purpose. With respect to real estate and home loans, escrow accounts are used to pay real estate tax bills and homeowners insurance payments. Escrow ...

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 ...

The basis of most mortgage lending is credit scoring.  In general, the higher a person's credit score, the lower his offered mortgage interest rate. Despite the many credit scoring models in use today, however, just 3 are relevant to ...

When a homeowner sells his home and decides to buy a new one, there are 3 basic options for the residence -- sell it, keep it, or rent it. Unfortunately, no matter which path they choose, move-up home buyers in need of a new conforming mortgage ...

A mortgage is a contract between a lender and borrower, defining the terms by which a home loan must be repaid.  The paperwork, signed by both parties, includes provisions for things like: The interest rate The length of the loan The amount ...

The Federal Open Market Committee voted to cut the Fed Funds Rate by one-half percent today.  The benchmark rate now stands at 1.000 percent. In its press release, the Fed wasted no time addressing the key issue at-hand, stating ...

On all principal + interest home loans, the first few years of payments include a lot more money going to interest than to principal.  This is because mortgage repayment schedules are front-loaded with interest, meaning large-volume principal ...

When comparing two investments with equal risk, a rational person will choose the investment with a higher rate of return. This behavior is called Risk Aversion and is a basic tenet of personal investing. An off-shoot of Risk Aversion is ...

As we get closer to Labor Day, volume on Wall Street is dwindling as market players get a head start on their long weekend. Today could be a difficult day to shop for mortgage rates and that can impact home affordabilility.  Expect ...