Mortgages for the Self Employed


There are benefits to being self-employed. Not having to answer to a boss is a big one, as is being able to set your own work hours. However, when it comes to qualifying for a mortgage, being self-employed has drawbacks. The “stated income” loan application was originally intended to help the self-employed qualify for a […]

Down Payments Have Doubled for Low-Priced Homes

Down Payment

Buyers looking at lower-priced homes are not only facing major inventory hurdles, they’re also finding that they have to bring more money to the closing table.

Carol Galante Quits FHA Commissioner Role


Federal Housing Administration Commissioner Carol Galante announced that she would resign by the end of the year.

Banks blame new QM rules for fewer home loans


New mortgage rules enacted this year are prompting banks to issue fewer home loans, according to a Federal Reserve Board report released this week.

Can’t get a Mortgage? Try a Bigger Lender


Demand for mortgages rose during the second quarter, but a strong divergence between larger and smaller lenders in underwriting credit standards is appearing.

RealtyTrac: 21% of Foreclosures are ‘Zombies’


Zombie foreclosures are still haunting the housing market, representing one in every five foreclosures nationally, according to RealtyTrac, a housing data firm.

Short Sales Falling Out of Favor with Underwater Homeowners


Real estate professionals say that their underwater sellers are less likely to consider a short sale, even if faced with foreclosure.

Most Buyers Misjudge Down Payment Requirements


Many consumers are overestimating the down payment they need in order to purchase a home, according to Christina Boyle, vice president and head of single-family sales at Freddie Mac.

Would You get a Mortgage from Google or Amazon?


In an interesting study published by RealtyTrac, it’s been revealed that many people would prefer to get a mortgage through Google or Amazon rather than a traditional lender.

Survey: Most Buyers Underestimate Impact of PMI


Sixty-five percent of home owners with private mortgage insurance (PMI) say that the additional cost has prompted them to pay a higher monthly mortgage payment than they had originally expected