mortgage

Experts: 16.3M homeowners miss out on mortgage refinance savings

homeowners miss out on mortgage refinance savings

Mortgage rates have fallen to new all-time lows so many times this year that it's almost getting routine. "Really? Again?"

16.3M miss out on mortgage refinance savings

But if you're a homeowner, don't let me catch you yawning, or shrugging off these milestones. Because a new record low means there are more old mortgages out there that are worth refinancing at lower interest — maybe including your current loan.

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Are you a homeowner seeking forbearance on your mortgage? Watch out for these red flags

Are you a homeowner seeking forbearance on your mortgage? Watch out for these red flags

Homeowners are asking for breaks on their mortgage payments in droves, as millions of Americans face the prospect of unemployment or reduced income because of the coronanvirus pandemic. But requesting forbearance on your mortgage isn’t foolproof.

The CARES Act stimulus package requires servicers to provide forbearance — a temporary postponement of payments — to any homeowner with a federally-backed mortgage. Americans with other mortgages may also be able to receive forbearance at their servicers’ discretion.

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Is It Time for You to Refinance Your Mortgage?

Interest rates have been creeping higher, but they're still pretty low when you look at their history. Meanwhile, housing prices -- which were crashing 10 years ago -- have been on a steady climb.

Refinancing could be an excellent way to lower your mortgage rate and cut your monthly payment, or tap into your home's rising value. But it's not always the right choice.

Ask yourself these questions before you go the refi route.Ask yourself these questions before you go the refi route.

Can you dump your current loan?

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5 mortgages that require no down payment or a small one

If you want to buy a house but don’t have a lot of money for a down payment, don’t lose heart. Your dream of homeownership is still attainable.

Homebuyers who can’t come up with big down-payment money have options. There are mortgagesavailable for a low down payment or even no down payment.

Check out five options for mortgages with little to no money down.

Mortgages with no down payment or a small one:

Department of Veterans Affairs

Navy Federal Credit Union

USDA

Buy private mortgage insurance

Federal Housing Administration

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The easy way to get preapproved for a mortgage

Preapproval is how much a lender is willing to lend you to purchase a home, based on your credit and financial strength. While preapproval is just an estimate of how much mortgage you can afford, it’s one of the most important steps in the home-buying process. With a preapproval letter in hand, you can demonstrate to any real estate agent that you have the ability to pay for a house he or she shows you. In fact, many real estate agents won’t let you place a bid on a home without preapproval.

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American home-ownership increases again as housing market looks for balance

More Americans became homeowners in the summer months, fresh evidence of a housing market that’s finding some stability after several rocky years.

The national homeownership rate was 64.4% in the third quarter, the Census Bureau said Tuesday. That’s a half-percentage point higher than a year ago.

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40 simple tricks for boosting your home's curb appeal

Whether your family needs a bigger house or you scored a sweet new job and have to move or just crave a change of some sort, deciding to sell your house is a big decision. But preparing your house for the big sale can be a time-consuming and frustrating experience. If you want top dollar for your humble abode, you’ve got to spend hours inside and out, refreshing and updating the thing from top to bottom. (And yes, that means dropping some dough on any needed repairs, whether some rotten siding or a whole new HVAC system.)

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