With mortgage interest rates recently touching their lowest in more than 50 years, many homeowners are asking themselves if now is the time to refinance. After all, it’s hard not to swoon at the thought of a 30-year fixed mortgage at 4.15 percent. But whether a mortgage refinance makes financial sense isn’t solely determined by interest rates and monthly payments.
Home prices have fallen to a new low, but many are still gun-shy when it comes to buying, in light of the mortgage meltdown. Mint users asked, “is it better to buy or rent right now?” and we invited an expert to give his answer.
The days of the no-money-down home loan are long behind us, but does a credit-worthy borrower still need to come up with a whopping 20 percent down payment to buy a house? Mint asks an expert this very question.
For homeowners unable to sell their property at a reasonable price, renting could be the solution to waiting out a lagging housing market. But, becoming a landlord involves far more than handing over the keys and watching the rental checks roll in. Here are five things you must consider before renting your home.
ARMs are making a comeback in 2011. Financial giant Bank of America says it has doubled its ARM business. The Mortgage Bankers Association has also reported an uptick in ARM activity so far in 2011. Does an ARM make sense for you?
There are a few certainties in life: death, taxes, and FICO not disclosing how many “points” certain events can cost your FICO scores. But, less than two weeks ago, the scoring giant did just that: provide some clarity on how many points you can lose by doing a variety of “bad” things with your mortgage loans.
At Mint, we’ve always been committed to helping you pay off your debt and save more by showing you where your money goes and finding financial products with better terms for you; from credit cards to high-yield savings accounts. Now,...