Finding yourself deep in mortgage debt is one of the most unpleasant situations in life. You’ve probably thought about taking out a second mortgage, or checking out the HARP loan program, or even filing for bankruptcy. However, Primary Residential Mortgage, Inc. will be the first to tell you that these are all dreadful things to […]
What to Do If You Have Underwater Mortgage Read Post »
If you are financing a house purchase with a mortgage, one of the biggest decisions you need to make is choosing between a 15- and a 30-year mortgage. Surveys suggest that most of the loan applicants go with the longer term. Both mortgage terms have their pros and cons. A 15-year mortgage has higher monthly
Choosing a Mortgage Length: Things to Consider Read Post »
Coming up with a 20% home loan down payment is often the biggest challenge for many homebuyers. While it is the benchmark to qualify for better rates and deals, most mortgage applicants today pay less than the recommended amount. According to the National Association of Realtors, the typical down payment for many first-time homebuyers is
Making Mortgage Down Payment: Is it Okay to Skip the 20% Mark? Read Post »
More Millennials in Utah are bucking a nationwide trend of being unable to buy their own houses, as they accounted for 38% of new mortgages in the state’s Salt Lake Valley in 2016. Those who were 25 to 34 years old have decided to buy houses in Utah, since paying for single- or multi-family mortgage loans
More Millennials Took Out Mortgages to Buy Homes in Utah Read Post »
Mortgage discrimination is illegal. This is crucial information that you should know if you’re planning on applying for a home loan to purchase, refinance, or renovate a house. Fortunately, two federal statutes — the Fair Housing Act (FHA) and Equal Credit Opportunity Act (ECOA) — offer ample protections against mortgage discrimination. Discrimination takes on many
Believe It: Mortgage Discrimination is a Real Thing Read Post »
When monthly mortgage payments have become burdensome, and yet somehow, you are still able to cope, then it would be best to opt for refinancing through HARP. This will help ease the burden off your shoulders. Meet HARP This refers to the Home Affordable Refinance Program. This was set up by the federal government to
Mortgage and HARP: What You Need to Know Read Post »