When Pres. Donald Trump signed the Tax Cuts and Jobs Act into law in December of last year, he altered the tax benefits of owning a home and paying down a mortgage.
The mortgage industry is finally catching up to the sharing economy, though in limited numbers. Fannie Mae is starting to allow lenders to let Airbnb hosts use rental income to refinance their home mortgage loans.
Does an adjustable-rate mortgage, better known as an ARM, look more attractive to you today? You're not alone. The low mortgage rates that come with an ARM loan today are making these alternate mortgage products seem more attractive to a growing number of borrowers.
How much is your home worth? Wondering about your home’s value can just be a curiosity to see if it's recovered from the housing crash of 2008, or how your home is keeping up with house prices in the area, or can be an immediate need to help you set a price to sell it.
One part of buying a home has gotten easier in 2018, owning to a big boost in FHA loan limits and the lending caps for Fannie Mae, Freddie Mac and VA mortgages.
Need to find a big chunk of change to cover that major kitchen remodel? Need dollars to fund the addition of a master bedroom suite? The recent changes to the tax laws have made big changes in the deductions you can take for interest paid on home loans – but a cash-out refinance for home improvements might still be an option.
Automatic payments, or autopay, can be a smart way to “set it and forget it” and pay your bills each month without doing much work. The automatic withdrawals from your bank account can be set up to pay for internet services, subscriptions, phone, credit card bills and even mortgage payments.
Mortgage lenders aren't shedding too many tears over the departure of former director Richard Cordray from the Consumer Financial Protection Bureau.
Calling your insurance agent after your home has been destroyed in a fire, hurricane or other natural disaster is likely to be one of the first calls you’ll make after letting your family know you’re safe. Your next call should be to your mortgage lender - to inform them of the loss and perhaps to inquire about a mortgage forbearance.
It might be getting slightly easier for self-employed borrowers to qualify for a home loan. Just make sure that the emphasis in that last sentence is on the word “slightly.”