Find out the average down payment on a house in the US and more!
The average down payment can vary depending on the loan type and the current market conditions. Advise your clients to prepare a down payment of anywhere from $10,000 to $15,000 at least. Should clients put more than the average down payment? Whether it makes sense for your clients to put down more than the average […]
What first time buyers need to know before buying a home
3. Shop for homes When shopping for properties, you can hire a real estate agent to find homes in your price range. Afterwards, you can start touring properties. When viewing homes, take a checklist with you to help you remember the details. Check important aspects such as water pressure and electrical systems. Be sure that […]
How to explain mortgage points to your clients
Mortgage points can offer meaningful savings, but only under the right circumstances. For some borrowers, the upfront cost makes sense. This is because they plan to stay in their home long enough to benefit from lower interest payments over time. For others, especially those who are unsure about how long they’ll hold their mortgage, the […]
CFPB terminations raise speculation of mortgage industry ‘Wild West’
Could be up to brokers to maintain high ethics For brokers like Shraybman, who remember what mortgage lending was like before the housing crisis, federal oversight has kept many people in line. He worries that those who might take advantage of customers may reemerge without the CFPB. “Having been in this industry for many years, […]
NAMB calls for mortgage rule changes as Fannie-Freddie shakeup continues
The changes, which were thwarted at the end of 2024 despite passage through the Senate, would prohibit credit reporting agencies from marketing and selling trigger leads unless the consumer provides explicit permission. And Saunders – along with NAMB, a key mortgage industry advocate for trigger lead reform – said initial signs are good for the […]
Credit bureaus ready to combat new trigger leads ban bill
“While technically there’s a new bill, you’re not starting from scratch, you have all that momentum. You can say this passed the Senate, and that that makes legislators comfortable with it quickly.” Brokers contacting representatives is critical for passage Passing legislation in the United States is rarely a sprint. It must pass through committees before […]
Markets breathe a sigh of relief as Trump rules out dismissing Powell
Another case involved President Woodrow Wilson, who fired US Postmaster for Portland Frank Myers, which went against a statute that required Senate approval for a postmaster to be fired. Katkin said the Supreme Court sustained the firing, saying the statute’s limitation on presidential removal power interfered unconstitutionally with the president’s duty to, “take care that […]
New US home sales see surprising jump in boost to mortgage market
Mortgage rates have climbed in recent weeks as US 10- and 30-year Treasuries rose in response to Trump’s flurry of tariffs against key trading partners, which include enormous levies against China. But the March results were strong, bolstered by a recovery in the South after weather events weighed against its performance in the opening months […]
Try our free mortgage calculator now!
Using mortgage calculators can be very useful in the early stages of planning, but one should know that these tools have limitations. Let’s look at some of them: Mortgage calculators are trustworthy tools for estimates, but they’re not a substitute for formal loan disclosures or a full pre-approval process. As a mortgage broker, you can […]
Reverse mortgage explained: How it works and who qualifies
a line of credit fixed monthly payments combination of both options While they are widely available, HECMs are offered solely through FHA-approved mortgage lenders. 2. Proprietary reverse mortgage This type of reverse mortgage is not federally insured. If your clients’ property has high value, they can get a bigger loan advance […]