Don’t overlook an ARM

Don't overlook the benefits of an ARM

by Tom Reddin on September 29, 2014

Most homeowners in the US jump into a 30 year Fixed Rate Mortgage as the default option for their loan. This can make a lot of sense for many homeowners given the historically low interest rate environment that we continue to enjoy today. But one needs to sit down and do a little life planning to determine just how long they’re going to be in their home. Otherwise, you could be giving up very significant savings on your mortgage interest payments.


Where are Mortgage Rates Headed in 2014?

Learn where rates are headed in 2014

by Tom Reddin on February 2, 2014

As we enter the spring home buying season, homeowners are wondering where mortgage rates are going to be headed in 2014. We’re still experiencing extremely low mortgage rates in the US, but the economy is slowly starting to improve, unemployment rates are slowly coming down, and the Federal Reserve is starting to gain confidence in the economy and beginning to take some actions which should impact rates in 2014. Read more to understand the key drivers behind interest rate movements, and see my prediction for where rates will be headed this year.


Is it safe to use an online lender?

Post image for Is it safe to use an online lender?

by Tom Reddin on October 11, 2013

I was recently asked by one of the readers of this blog whether it was safe to use an online lender. It’s a great question, but not a simple one to answer. Online lenders often offer some of the best interest rates and APRs in the market. But most of them are “out of state” lenders, and don’t have the local resources for face-to-face meetings if problems arise during the process of securing your new mortgage. Read more to understand the pros and cons of using online lenders, and how to mitigate risks.


Where are Mortgage Rates headed? – Part II

Where are Mortgage Rates headed?

by Tom Reddin on July 13, 2013

At the beginning of the year I forecasted mortgage rates would increase throughout 2013. Well, rates have in fact increased, and even exceeded my forecast. Where are mortgage rates headed from here? What are the key drivers which will determine whether they’re going to continue to increase this year, remain where they are, or go back down? Read more to gain an understanding of the economic drivers at play, and what will determine how interest rates behave for the rest of the year.


Spring 2013 Mortgage Rate Update

Mortgage Rate Update

by Tom Reddin on May 10, 2013

The spring home buying season has been busy, with increased demand for housing thanks in part to record low mortgage rates. Supply of homes has declined significantly over the past year, and demand for homes is strong which has driven double digit increases in home prices in recent months. Read more to help determine whether now is the right time to purchase a new home, or refinance your existing mortgage.


Easy way to cut 4 years off your mortgage.

Cut 4 years off the life of your mortgage

by Tom Reddin on March 22, 2013

We are in the heat of the spring home buying season and many people are taking out new mortgages to buy their dream home. One of the simplest, easiest ways to cut approximately four years off the life of a traditional 30 year fixed rate mortgage is usually overlooked by most homeowners. Read more to learn about this painless approach to paying your mortgage bill that can make a huge impact down the road. It might just pay for your kid’s college tuition bills.

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Where are mortgage rates headed in 2013?

Where are Mortgage Rates heading in 2013?

by Tom Reddin on February 18, 2013

Mortgage rates are still near record lows, but they have ticked up over the past few months. As the housing market continues to recover with prices increasing and inventories shrinking, many homebuyers entering into the spring home buying season are wondering where rates will be heading in 2013, and whether now is a good time to buy a new home. Read more to learn about the market forces at work, and where I speculate rates are going to be trending throughout 2013.


FHA Streamline Refinance

Learn how to take advantage of the quick and easy FHA Streamline Refinance mortgages

by Tom Reddin on November 28, 2012

An FHA Streamline Refinance is one of the fastest and easiest ways to refinance your mortgage to take advantage of today’s record low mortgage rates. This program is from the Federal Housing Administration and available to all homeowners who currently have an FHA mortgage. The requirements to qualify for these streamline refinance loans are very light including no employment verification, no income verification and even no appraisal. But there is an added cost of a mortgage insurance premium (MIP) since these are riskier loans that the FHA insures for lenders. Read more to take advantage of this very popular refinance program…it will most likely not last forever.


Low down payment? Try an FHA Mortgage.

Learn about FHA mortgages

by Tom Reddin on November 20, 2012

US Mortgage Rates are at all time record lows, but not everyone can take advantage of them. The US has had a long running program within the Federal Housing Administration (FHA) to help US citizens buy a home that they might not otherwise be able to afford through traditional lending sources. The FHA has played a stepped up role since the subprime market fell apart over the past few years. Learn more about this government assistance program, how it has helped both homeowners and the housing market, and how it might be creating the next bubble in the US mortgage market.

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Have US Mortgage Rates Hit Bottom?

US Mortgage Rates

by Tom Reddin on September 22, 2012

US Mortgage rates have been on a downward trajectory over the past year. Rates recently ticked up a bit over the past couple of months, but have now bounced back down to 3.49%, the lowest level on record. For many homeowners, the toughest question is whether now is the right time to refinance, or whether one should hold on to see if rates will go lower. Read on to learn about how the mortgage market works, the global dynamics at play, and to get a perspective on whether now is the right time to lock in to a low rate.