Receiving financial assistance with a down payment won’t increase the chances of a home owner defaulting on their mortgage, according to a new study. A new working paper prepared for the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis examined the performance track record for loans made with some form of down-payment […]
That Superlow Mortgage Rate? It Could Be Even Lower
Interest rates have been plummeting, but the cost of taking out a mortgage hasn’t fallen as fast. Falling rates are usually a boon to the housing market, since that typically lowers the interest rates that lenders offer on mortgages. Borrowers can then buy homes or refinance their existing mortgages at a lower monthly cost. But they […]
How Much Home Can I Afford? Find That Magic Number Here
How much house can I afford? Long before you start asking yourself what type of house you want—condo or house? Craftsman or ranch?—you should ask yourself this pragmatic question. After all, it’s no secret that your dream home can quickly turn into a living nightmare if you’re struggling to save for a down payment or wonder how […]
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