USAA USAA is one of the top lenders for VA loans, but it offers limited mortgage options and membership is only open to military service members, veterans and their families. VA APR 3.463% J.D. Power 5/5 Fees VA funding fee 1.40%–3.6% SimpleScore 3.8 / 5.0 close SimpleScore USAA 3.8 If …
Read More »How to Fight Back Against LGBTQ Mortgage Discrimination
Back in June, the U.S. Supreme Court confirmed that the Civil Rights Act applies to sexual orientation. Moving forward, Americans don’t have to worry about losing their jobs for being who they are. However, the ruling didn’t address other areas of prejudice — including the discrimination LGBTQ homebuyers face in the …
Read More »Everything You Need to Know About Mortgage Brokers
Buying your first home can be overwhelming. The process seems to involve endless steps, meetings with banks and credit unions, home visits, meetings with real estate agents, negotiations, closing costs — and that’s before you even get to the point of actually moving into the place. One option that many …
Read More »6 Tips for Refinancing a Mortgage Amid the Pandemic
Photo by Akarawut / Shutterstock.com The coronavirus pandemic and ensuing recession have brought mortgage rates to all-time lows. Here’s what this means to homeowners: Now could be a great moment to lower your mortgage rate and save money by lowering your monthly payments or shortening the time frame of your …
Read More »This Is the Best Time in 50 Years to Refinance a Mortgage
The most popular mortgage in America — the 30-year fixed mortgage rate — has hit an all-time low of 2.98% according to Freddie Mac, making this month the best time (statistically speaking) to refinance or apply for a new mortgage since Freddie Mac started tracking mortgage rates in 1971. Other …
Read More »15-Year or 30-Year Fixed Mortgage: Which Is Right for You?
One of the trickiest decisions that prospective homeowners face as they apply for a mortgage is the choice between a 15-year fixed-rate mortgage and a 30-year fixed-rate mortgage. A lower monthly payment often sways people toward choosing a 30-year mortgage. After all, your monthly bills for the next decade and …
Read More »Questions About Mortgage Escrow, Summer Camp, Glass Bottles, Stimulus Debit Cards and More
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.1. Escrow shortage question2. Reusing glass drink bottles3. Retirement savings in my 40s4. Frugal summer camp replacement ideas5. Home delivery …
Read More »Can’t Make Your Mortgage Payment? Here’s How to Request Relief
Photo by fizkes / Shutterstock.com The coronavirus pandemic and the millions of jobs lost due to it are whipsawing American households. Once you’ve put food on the table, the next most pressing question is, “How do I hang onto my home?” If you’re in a tight spot right now, you …
Read More »1 in 4 Homeowners Don’t Know This Basic Fact About Their Mortgage
Photo by Antonio Guillem / Shutterstock.com If you own a home, there’s a good chance that the associated loan payment is your largest monthly expense. So, it might surprise you to learn that 27% of homeowners don’t know their current mortgage interest rate. That finding from a recent Bankrate survey …
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