Getting pre-approved for a mortgage gets you one important step closer to securing the home you love. Pre-approval shows sellers and real estate agents that you are a serious buyer, it proves you are credit-worthy and in competitive markets, it helps you to move fast on the house you want. Many times, sellers will not…

An estimated 32,923 new and resale houses and condos sold in the state of California in the month of March. That was up 28.2 percent from 25,680 in February, and down 12.8 percent from 37,764 sales in March 2013, according to San Diego-based DataQuick. Last month’s sales were the lowest for a March since 2008,…

755: The average FICO score for a conventional mortgage. Mortgage credit continues to loosen up, but getting a loan to buy a house is still difficult for the average American. This is especially true for people without top credit scores. The average FICO score for a conventional mortgage – one that’s sold to mortgage giants Fannie…

Mortgages aren’t created equal, and neither are the lenders who will issue you a home loan. To ensure you are getting the best possible loan terms, experts say you have to ask the right questions from the start and through the end of the home-buying process. “With all the information out there today and with…

According to a new survey from Fannie Mae, credit availability is improving. For the first time in over three years, the majority of consumers believe it's easier to get a mortgage. Doug Duncan, Fannie Mae's chief economist said, "The gradual upward trend in this indicator during the last few months bodes well for the housing…

Freaked out because your mortgage payment has increased? Before you write that next mortgage check, let’s investigate what’s going on with the payment. The increase could come from a number of factors and there may be something you can do about it besides paying more each month. Many lenders incorporate the following elements into the…

As a prospective home owner, you may find yourself paying closer attention to your credit. And rightfully so. A home can be one of the most important investments you’ll make during your lifetime. Home ownership is still the American dream for many. A home can become a part of your family’s story. Applying for your…

The super-low mortgage rates that tens of millions of Americans locked in during the refinancing boom are now discouraging many of these borrowers from buying another home and giving up those loans. The multiyear refinancing craze, which included some of the lowest rates ever recorded, freed up cash for borrowers to sink into the economy.…

Shopping for a mortgage can feel overwhelming. It’s intrusive because lenders require every detail of your personal and financial life to do their job. It’s complex because rate quotes and associated fees (also known as points) can be presented many different ways, plus rates change daily based on economic conditions. And it’s confusing because there…

Many first-time and low-income borrowers are good risks, but it would take them too many years to save enough money to buy a home with 20 percent down or more. Many high-income borrowers may have enough cash to put that much down, but they prefer to leverage their credit and use their cash for other…