5 Tips for Getting a Mortgage Loan with a Partner Who Has Challenged Credit

Most married couples apply for a mortgage home loan jointly, meaning that they each put their name on the application. The biggest benefit to this is that the couple can pool their financial resources together. A joint application will assess both incomes. This affects a number of important metrics that mortgage companies use in assessing…

6 Tips on When to Refinance Your Mortgage

A mortgage refinance means paying off the existing mortgage and replacing it with a new mortgage. There are quite a few reasons to refinance a home mortgage for the savvy homeowner. Here is your guide, six essential tips, on when to refinance your home loan to ensure you get the best deal possible. Tip #1:…

Delinquency Rates Lowest in a Decade

According to a recent study released by CoreLogic called the Loan Performance Insight Report, delinquency on mortgage payments is at the lowest rate in nearly a decade. The report shows that this trend is true across a number of different metrics. For instance, the current rate of delinquency, defined as 30 or more days delinquent on…

The Changing Psychology of Homebuying

A recent study by Redfin that spanned 3,000+ homebuyers across 11 different homebuying markets revealed some interesting changes into the trends of homebuying. The way that Americans are buying homes and the things that are important to them when buying are changing. Understanding these changes as well as why these changes are occurring is vital…

Rising Interest and Interested Homebuyers

On March 15, the U.S. Federal Reserve raised interest rates by a quarter of a point. While this signals their faith in the economy, it might make potential homebuyers feel a little nervous. Here are a few things to keep in mind. This Isn’t a Bad Sign In her press conference, Federal Reserve Chair Janet…

4 Ways Rising Mortgage Rates Can Be Good

Mortgage rates rose last December and by most projections, they are going to rise again in 2017. While higher interest rates can be trouble for home buyers, there are actually a number of advantages. It’s not all doom and gloom. In fact, higher rates do not necessarily mean that home buyers will have to pay…

FHA Set to Increase Mortgage Limits in 2017

The Federal Housing Authority, or FHA, has announced that they are going to increase mortgage loan limits starting January 1, 2017. Each year the FHA evaluates the mortgage market and makes adjustments to lending limits based on home prices in individual areas. The increase will last the entire year, when the FHA will make another…

Rising Mortgage Rates: Time to Buy?

To the surprise of both Wall Street and many industry experts, interest rates stayed competitive for most of 2016. There were a lot of factors that contributed to these favorable rates, both domestically and globally. Homebuyers getting a rate of 3.5% wasn’t only possible, it was actually quite frequent. The lowest rates of 2016 have…

Federal Reserve Opts to Not Raise Rates

When the Federal Reserve Board met in December 2016, they raised the rates. It was the first time they had raised the rates in a full year. The expectation was that they would continue to raise the rates throughout 2017. Interest rates have been very low for a long time, post-Great Recession. As the economy…

The Pacific Advantage: Bruised Credit

Welcome to our Product Overview for Mortgage Pros. Pacific Union Financial recognizes what should be obvious, but seldom is – folks with mortgage expertise need the best tools in order to succeed. So we provide them. This series demonstrates that we have the range of products and tools to help accomplished mortgage professionals do what…