Home Mortgages Articles

Wells Fargo admitted in August to accidentally foreclosing on 400 homes due to a software glitch that prevented homeowners from modifying their mortgages. Is Wells Fargo doing enough to make things right? And how can you protect yourself if your bank accidentally forecloses on your home?

You want to buy a mobile or manufactured home? Home loans work a little differently for these types of dwellings. If you have bad credit, your options are limited — but you do have options. Here’s how to get a manufactured-home loan if you have bad credit.

Can you get a mortgage to buy a co-op? Although similar to condominiums, housing co-operatives are unique and come with a host of financing challenges. Understand how co-op financing works so you’re prepared to make an offer when the opportunity arises.

The hidden cost of VA loans
August 17, 2018

VA home loans are one of the best deals in the mortgage industry. But are they too good to be true? Before taking out a VA loan, be aware of the hidden costs so you can make the best decision and get into your dream home.

Non-qualified mortgages, or non-QMs, have been in place since 2014. They were created in response to the financial crisis of 2007-2009, which occurred in part due to a large number of subprime mortgages that defaulted.

Understanding the basics of a subprime mortgage
August 9, 2018
  |   Updated: August 9, 2018

What is a subprime mortgage? A subprime loan involves a borrower with a poor or low credit score. The definition of subprime varies: VantageScore defines a subprime credit score as anything below 601, while Fannie Mae and Freddie Mac define credit ratings below 620 as subprime.

What is a good debt-to-income ratio when buying a home?
August 9, 2018
  |   Updated: August 10, 2018

Understanding DTI is essential. Simply put, your debt-to-income ratio is calculated by combining all of your monthly debts and dividing that amount by your gross monthly income.

How long after filing for bankruptcy do you have to wait to get a loan to buy a house? The answer varies depending on what type of bankruptcy you filed for, what type of mortgage you intend to purchase your home with, and whether you have any extenuating circumstances. Here’s everything you need to know to help you buy a house after a bankruptcy.

The U.S. and China are edging toward a trade war. The Trump Administration also has imposed tariffs on products from Canada, Mexico and the European Union. Housing economists spoke with Ask a Lender about how this will impact American homebuyers.

Physician loans, or doctor loans, help medical professionals purchase homes early in their careers. With low down payments and lenient student debt standards, are they the right prescription for your mortgage needs?

Does the no-closing-cost mortgage really exist?
July 13, 2018
  |   Updated: July 13, 2018

Many people don’t know that options exist to reduce or eliminate closing costs when buying a home. Doing so can save you thousands upfront — but is it worth it in the long run?