Mortgage: The Death Pledge
Mortgage: ‘mortuus’ meaning ‘dead’ and ‘gage’ meaning ‘pledge‘
I was looking at ICE’s most recent Mortgage Monitor Report when something struck me. In their rate distribution chart of recent mortgages, I noticed a super wide range of rates during the year 2022. This was because the 30-year fixed began the year around 3%, and ascended rapidly to around...
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Published on: 2025-04-16
Source:
The Truth About Mortgage
A week after Zillow drew a hard line on off-market listings, Redfin has rolled out its own ultimatum. Redfin CEO Glenn Kelman penned a short statement, saying “Buyers should see all the listings, and sellers should control how their listing appears online.” He went on to say that, “Redfin.com will...
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Published on: 2025-04-15
Source:
The Truth About Mortgage
The mortgage rate whirlwind continues as we start another week. This time, rates are back below 7% (just barely), though it’s little consolation considering where they were just 10 days ago. If you recall, the 30-year fixed was close to 6.5%, which felt pretty decent at the time, especially since...
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Published on: 2025-04-14
Source:
The Truth About Mortgage
When securing a mortgage, derogatory accounts such as collections, charge-offs, judgments, and unpaid taxes can significantly impact your ability to qualify for a loan. However, how these accounts are handled varies greatly depending on whether you’re applying for a Conventional loan (backed by Fannie Mae) or an FHA loan. Below,...
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Published on: 2025-04-14
Source:
Mortgage Depot
A new battle, or perhaps war, is underway for control of real estate listing data. Depending on who you ask, it’s about the consumer. Mostly the home seller, who logically benefits from maximum exposure to their listing. The best way to get the most exposure is by agreeing to syndicate...
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Published on: 2025-04-11
Source:
The Truth About Mortgage
If you’re in the market for a budgeting method that’s the best for your money, might we suggest the zero-based budget? (We might. We will.) But what makes it the best? And how do you make (and keep) a zero-based budget? Let’s answer all that. Right now. What Is Zero-Based Budgeting?...
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Published on: 2025-04-11
Source:
Ramsey Solutions
In case you haven’t heard, the tariffs levied against China are now 145%. Yes, you read that right. Not the 125% you may have heard about yesterday because the math apparently left out an additional 20% increase. Oops! They’re now well above the prior 104% tariff rate, and the 84%...
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Published on: 2025-04-10
Source:
The Truth About Mortgage
Welp, the question I asked recently, would mortgage rates hit 5.99% or 7% next, has been answered. And unfortunately, if you’re a prospective home buyer or recent homeowner looking for rate relief, it’s 7%. The latest foe for mortgage rates is a new round of global tariffs, including a whopping...
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Published on: 2025-04-09
Source:
The Truth About Mortgage
If you’ve been paying attention to mortgage rates lately, you might be wondering what on earth is going on. Mortgage rates appeared to be heading back toward the low 6s before abruptly shifting back toward 7%. It all took place in the span of a day or two, compounding the...
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Published on: 2025-04-08
Source:
The Truth About Mortgage
I keep hearing that lower mortgage rates are the silver lining of a global trade war. That despite the stock market fallout and possibly much higher prices due to tariffs, mortgage rates are at least lower. But how much lower are they really? And at what cost? And is anyone...
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Published on: 2025-04-07
Source:
The Truth About Mortgage
There’s a lot going on right now with mortgage rates so I’m dedicating a very long post to it. First and foremost, mortgage rates are dropping fast as the economy teeters on the brink of a possible recession. The driver is worldwide tariffs and a global trade war, which has...
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Published on: 2025-04-04
Source:
The Truth About Mortgage
Like the year before, United Wholesale Mortgage (UWM) was the top mortgage lender in 2024. It marked their second year as the top dog, beating out their crosstown rival Rocket Mortgage yet again. Rocket had been #1 in the country since 2018 before ceding its lead to UWM, which works...
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Published on: 2025-04-03
Source:
The Truth About Mortgage
Upgrade your primary residence with MortgageDepot’s Renovation HELOC, a versatile financing solution designed to help homeowners transform their living spaces. Whether in New York, New Jersey, or any other 47 states (except Texas), our full-income check HELOC mortgage provides the funds you need to bring your renovation vision to life. How Our Renovation HELOC Works Unlike traditional...
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Published on: 2025-04-03
Source:
Mortgage Depot
The latest mortgage rate forecast from Fannie Mae is a good one, assuming you’re a prospective home buyer or an existing homeowner. The government-sponsored enterprise (GSE) lowered their forecast pretty dramatically from a month earlier. They now expect the 30-year fixed to be a full 30 basis points lower by...
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Published on: 2025-04-02
Source:
The Truth About Mortgage
As always, it’s been hard to determine the path forward for mortgage rates. They’re never easy to predict, but since the new administration took over, it’s been even harder. You can blame it on a few things, whether it’s the DOGE-led government layoffs, the tariffs and wider trade war, or...
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Published on: 2025-04-01
Source:
The Truth About Mortgage
Walter Maychenko is a highly skilled Mortgage Loan Officer (MLO) at MortgageDepot, bringing years of experience in residential lending and a deep understanding of financial analysis. He works closely with borrowers to assess their financial standing, guide them through complex loan products, and deliver tailored mortgage solutions that align with their...
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Published on: 2025-03-26
Source:
Mortgage Depot
Volodymyr Maychenko is a highly skilled Mortgage Loan Officer (MLO) at MortgageDepot, bringing years of experience in residential lending and a deep understanding of financial analysis. He works closely with borrowers to assess their financial standing, guide them through complex loan products, and deliver tailored mortgage solutions that align with their...
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Published on: 2025-03-26
Source:
Mortgage Depot
We specialize in helping real estate investors finance investment properties in the competitive New York real estate market with our DSCR (Debt Service Coverage Ratio) loans. With years of experience offering DSCR loans in New York, we’ve helped countless investors, including first-timers. Whether you want to purchase a rental property or...
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Published on: 2025-03-25
Source:
Mortgage Depot
So, maybe you’ve got an irregular income—meaning you don’t make the same amount of money every paycheck. If that’s you, you aren’t alone. Plenty of people work hourly or commission-based jobs or have side gigs that change up their income every month. But you can—and should—budget every month, irregular income...
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Published on: 2025-03-21
Source:
Ramsey Solutions
When securing a mortgage, derogatory accounts such as collections, charge-offs, judgments, and unpaid taxes can significantly impact your ability to qualify for a loan. However, how these accounts are handled varies greatly depending on whether you’re applying for a Conventional loan (backed by Fannie Mae) or an FHA loan. Below,...
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Published on: 2025-03-19
Source:
Mortgage Depot
Purchasing a home just became more achievable with this program. It offers flexible financing options and down payment assistance to support your homeownership goals. With minimal upfront costs and competitive requirements, this program makes owning a home more accessible. Program Highlights: 101.5% CLTV – Includes 96.5% First Mortgage and 5%...
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Published on: 2025-03-14
Source:
Mortgage Depot