Posted by R. Mak on January 29, 2010 ·
Lenders have made certain categories based on the status of borrowers. First one is “Full doc loans” which is for borrowers who have documents for employment, income and assets and good credit scores. Second are “Stated income loans” for people who have documents for their income but not for other assets, they too need to have good credit scores. Thirdly “Stated income/Stated assets” is for people who may not be able to produce full documents for their income and assets. Lastly are the loans for people who provide no documents for income and assets i.e. “No documents loans”.
Posted by R. Mak on December 31, 2009 ·
A reverse mortgage or lifetime mortgage is a type of loan available to senior people, allowing them to transfer a portion of the home equity in to cash. This can be taken either in one go or multiple payments, which ever suits you.
Posted by R. Mak on December 9, 2009 ·
There has been a slight increase in long term mortgage rates in this week’s Mortgage Applications Survey that has been released this morning by the Mortgage Bankers Association….
Posted by R. Mak on December 3, 2009 ·
There is a record drop in mortgage rates for fixed 30-year loans, among signs that the housing market has started emerging from the worst slump since the 1930s. The rate has become as low as 4.71% for the week ended today. This has been recorded…
Posted by Batool Shamim on November 25, 2009 ·
According to the latest Mortgage Application Survey released by the Mortgage Bankers Association, the 30 year mortgage rates have fallen down to 4.82%. This can be considered a slim decline from the last week’s average 30 year contract mortgage rate of 4.83 percent.
Posted by Batool Shamim on November 19, 2009 ·
According to the Mortgage Bankers Association, a record percentage of Americans are now being late in paying their mortgages.
Posted by Batool Shamim on November 6, 2009 ·
According to the Mortgage Bankers Association, the U.S. mortgage lending for commercial property fell by 54 percent in the third quarter as compared to the previous year.
Posted by R. Mak on October 14, 2009 ·
On Wednesday data from an industry group showed that U.S. mortgage applications dipped last week as interest rates on 30-year loans rose above 5%.It has been said by the Mortgage Bankers Association that rates on 30-year fixed-rate mortgages, rose above…
Posted by R. Mak on September 30, 2009 ·
According to a survey of mortgage lenders that has been released this morning, less people are applying for mortgage loans either to purchase a home or to refinance their existing…
Posted by R. Mak on August 19, 2009 ·
On Wednesday it has been said by the Mortgage Bankers Association that large swings in mortgage rates over the past month have shown their result in the form of “seesaw-like activity” in the volume of refinancing applications that has been filed by homeowners, while there has been a gradual increase in the applications to purchase [...]
