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Mortgage Payments Fall 12% Since February 2011
As mortgage rates drop, so do housing payments. It’s a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history....
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Banks Start To Loosen Up In Underwriting
After a half-decade of tightening mortgage guidelines, banks are starting to “loosen up”. The Federal Reserve conducts a quarterly survey of its member banks and, last quarter, not a single...
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Revamped HARP : Unlimited Loan-to-Value And Same Great Rates
The government’s new, revamped HARP program is 6 weeks from release. Homeowners in DC and nationwide are gearing up to refinance. HARP is an acronym. It stands for Home Affordable Refinance Program....
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FHA To Raise Mortgage Insurance Premiums April 1, 2012
Beginning April 1, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout DC and the country. It’s the FHA’s fourth such increase in the last...
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FHA Mortgage Insurance Premiums Increasing April 9, 2012
Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today. Beginning next week, the Federal Housing Administration (FHA) is changing the way...
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Mortgage Guidelines Resume Tightening Nationwide
Despite an improving U.S. economy, the nation’s banks remain cautious about what they will lend, and to whom. Last quarter, by a margin of 3-to-2, more banks tightened residential mortgage lending...
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With LIBOR Low, Don’t Rush To Refinance Your ARM
Is your mortgage scheduled to adjust this season? You may want to let it. This year’s ARM-holding homeowners in District of Columbia are finding out that an adjusting mortgage may be the simplest way...
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When It Pays To Refinance Your Mortgage — Literally
To refinance a mortgage means to pay off your existing loan and replace it with a new one. There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening...
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Mortgage Approvals : Documents You’ll Need For Your Lender
According to the Federal Reserve’s quarterly Senior Loan Officer Survey, it’s getting easier to get approved for a home loan. Between July – September 2012, fewer than 6% of banks tightened mortgage...
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Which Is Better : 15-Year Fixed Rate Mortgage Or 30-Year Fixed Rate Mortgage?
As a home buyer or refinancing household in District of Columbia , you have choices with respect to your mortgage. You can choose a loan with accompanying discount points in exchange for lower mortgage...
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