Should You Ditch Your Adjustable-Rate Mortgage?
As both mortgage rates and short-term interest rates remain low, many borrowers are now wondering whether moving into a fixed-rate loan makes financial sense for them.
Author Archive
Scott Sheldon is senior loan officer and consumer advocate based in Santa Rosa, CA. His work has appeared in Yahoo! Homes, CNN Money, MarketWatch and The Wall Street Journal. Connect with him at Sonoma County Mortgages.
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Refinancing? It’ll Likely Take Longer Than 30 Days
Lenders, banks and credit unions are experiencing higher aggregated volume than their normal operational capacity supports during this time of year.
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6 in 10 Qualify for a Mortgage: Do You?
Here are some of the more common reasons why would-be borrowers face rejection.
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Self-Employed? Avoid These Common Borrower Traps
If there’s one type of borrower in this credit market whose profile has been scrutinized the most, it’s the sole proprietor.
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What You Need to Know About Mortgage Rate Locks
Whether buying a home or refinancing a mortgage, your mortgage lender will require you to lock your rate on the amount borrowed no later than five days prior to closing.
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No-Cost Mortgages Still Cost
No-cost mortgages offer consumers the ability to pay no closing fees, but the fees associated with these loans still need to be paid, and the cost comes in the form of a higher interest rate.
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Which Mortgage Company Should Handle Your Home Loan?
Mortgage companies have many designations, and understanding the small differences between the various companies could help you get the most competitive rate on your loan.
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How the Election Could Influence Mortgage Rates
How the election’s results will be perceived by the financial markets could cause mortgage rates to gyrate.
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How Much Income Do You Need to Buy a House?
When it comes to finances, you might find a disparity between how much house you want and how much house you can purchase given your gross monthly income and other factors.
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How Your FICO Score Affects Your Ability to Get a Mortgage
Simply put, the lower the credit score, the higher the interest rate.
