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Budget-Friendly Tips to get your Short-Term Rental Ready to List
There's a lot of speculation about the housing market and if it’s hit a tipping point. Interest rates are slowly ticking back up from historic lows, but inventory is still too scarce to meet demand in most markets making it a tough industry to predict. One sliver of the housing market that’s too hot to miss, however, is the short-term rental market.
Refinancing your FHA loan can lower your interest rate and, as a result, your monthly payment. So, if you’re considering this path, know that you have several options. We’ll look at six ways to get a new, replacement mortgage, such as FHA cash out refinance, their benefits and their requirements.
When applying for a home loan, lenders will check your credit to ensure you’re a good candidate for a mortgage. For this reason, you will want your credit history to be as accurate as possible and not include any inadvertent errors.
Owning a home entails getting a mortgage, which requires a good credit score and enough cash for the down payment. But what if you want to try an alternative route to traditional home loans?
One option you can look into is the rent-to-own agreement. This agreement allows you to rent a property for a specific period of time and then buy it before your lease expires.
Typical Pre-Approval Pitfalls and How to Avoid Them
When looking to buy a new home, getting preapproved by a lender is the first step toward homeownership. A preapproval letter will show how much a lender is willing to let a homebuyer borrow, as well as the estimated interest rates and fees expected to be paid. It assures sellers that you’re financially ready to take on the responsibilities of homeownership.
At Mutual of Omaha Mortgage, we’re beaming with PRIDE as we celebrate the trailblazers who continue to forge a path to homeownership with the needs and goals of the LGBTQ+ community in mind. Without their steadfast leadership to promote homeownership rights for LGBTQ+, many queer and transgender individuals may still be faced with discrimination in housing and lending.
June is National Pride month, celebrating the positive visibility and civil rights impact of LGBTQ+ people worldwide. According to the Human Rights Campaign, LGBTQ+ is “an acronym for ‘lesbian, gay, bisexual, transgender and queer’ with a ‘+’ sign to recognize the limitless sexual orientations and gender identities used by members of our community.”
How Medical Debt Might Impact How You Qualify for a Home Loan
Medical expenses. It’s something all Americans are familiar with. Medical debt has become one of the most common reasons homeowners are faced with challenges when seeking approval on a home loan and has been an issue even prior to the COVID-19 pandemic.
Foreclosed houses are attractive to buyers because of their lower prices. Sellers are also more motivated to get them off the market, generally creating favorable conditions for would-be homeowners. Further, it's now easy to find and acquire foreclosed properties virtually anywhere in the country.