Baltimore mortgage

Credit Score – How to Get and Maintain a Good Credit Score

July 11th, 2019

Your credit score is something that is important whenever you are attempting to finance anything - a car, a credit card - and yes, a house. But if you haven't built your credit, or don't know how to rebuild your credit if there were a past issue, you may not understand the steps to take [...]

Millennials Want to Own Homes

January 25th, 2019

Millennials want to own homes. Seventy-two percent of Millennials surveyed prioritize buying a home over marriage and having children. The reasons given in the CNBC survey were that those surveyed would like to have stability or feel they are established if they own a home. The only priority over homeownership is planning for retirement. Those [...]

How Does the Interest Rate Affect My Homebuying Power?

March 27th, 2018

How does the interest rate on a mortgage affect my homebuying power? First, you should understand that the higher your mortgage amount, the more the rate could affect your homebuying ability. In an article by smartasset (TM), it notes that a 0.5% rise in interest rates can raise your monthly payment by $28 per $100,000 [...]

Millennials and Homebuying Questions

February 22nd, 2018

Millennials and homebuying questions - these go hand in hand. Of course, most homebuyers have a lot of questions, but this generation has a unique position where they are between those who had to put 20% down in order to buy a house, and those who do not believe they will ever have the money [...]

Mortgage Applications Up As Interest Rates Rise

January 26th, 2018

Mortgage applications are up both from last week and last year at this same time. There were 4.5% more mortgage applications submitted last week than the week before, and 6.1% higher than the same time last year. This is the highest level of new purchase mortgage applications since April 2010. CNBC has a great article [...]

Millennial Mortgage Problem in Baltimore and Other Cities

November 6th, 2017

Millennials are not buying homes often in many areas, and there is good reason. Millennials don't always have the money for a downpayment to buy a home! An article in USA Today discusses the student debt and lack of savings that can create this issue. A company by the name of Apartment List figured out [...]

What Factors Can Affect My Mortgage Interest Rate?

January 30th, 2015

What factors can affect my mortgage interest rate? Did you know if you called to get a mortgage, and your best friend called the same day, you could potentially get two different mortgage rates? How could this happen? Why? The Consumer Financial Protection Bureau's website, http://www.consumerfinance.gov/, which is a government-run website, put together a list of [...]

New 3% Downpayment Programs December 2014

December 10th, 2014

New 3% downpayment programs will become available in December 2014, thanks to Fannie Mae and Freddie Mac. According to a Bloomberg news report, the companies will start offering this low downpayment program beginning December 13th. Currently, Fannie Mae and Freddie Mac make up more than half of new home loans. They have allowed down payments as [...]

Beware of Deceptive Mortgage Advertising

September 11th, 2014

Beware of Deceptive Mortgage Advertising Another Mortgage Minute with Dan Murtagh! Thank you, Dan! "With all of the regulation in the mortgage industry these days I am fascinated at some of the deceptive advertising that I still hear on the radio and on the internet. If you are shopping for a mortgage and you see a [...]

Considering an ARM Loan?

July 2nd, 2014

Considering an ARM? Why you should or shouldn’t consider an ARM (Adjustable Rate Mortgage.) Adjustable rate mortgages (ARMs) are perfect for some borrowers because ARMs provide a low interest rate for an initial payment period, making the initial monthly payments less than those a fixed-rate mortgage usually offers. Adjustable rate mortgages acquired a bad reputation [...]