Welcome to Mortgage Rates Guide
Current Ohio Mortgage Rates Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Your Credit and Low Mortgage Rates
from:While our economy is in a bit of turmoil, low mortgage rates are attracting homeowners to borrow on the equity of their homes to do home improvements, pay off credit card debts, or just go on a much needed vacation. You may want to refinance your current mortgage loan to lower your payments; your credit report can help you get lower mortgage rates.
If you have been thinking about taking out a new mortgage or re-fi loan, now is the time to do it because of the low mortgage rates that are available now to qualified borrowers. If you want to make home improvements, or add on to your home, you will need to get estimates to what this will cost and then go to your lender and ask for a loan. By making home improvements you can increase the value of your home and your mortgage payments may be lower than you were paying before due to the low mortgage rates.
Often people are worried about the economy and not being able to afford their mortgage loans. A good rule of thumb when you are thinking about borrowing is that your mortgage payment should not be higher than a quarter of your monthly income, which is about a week’s salary. To qualify for a loan the mortgage lender will evaluate your finances to determine your ability to pay back the loan. For many, the low mortgage rates are the determining factor for taking out a loan at this time, rather than missing out on a great deal. There are closing costs to borrowing money, and even with the costs, the low mortgage rates can save you a significant amount of money if you refinance.
To take advantage of the low mortgage rates to refinance you will have to apply for another loan. You may have to give information about the home that you are mortgaging, and give information about your employment status. You may be asked to show proof of your pay stubs from your job. If you are self-employed you may be asked how long you have been in business and offer copies of your income tax returns to prove your earnings. Your lender may ask you for the names of your creditors, and the amount you owe. You may also be asked for a photo ID and proof of identity, though your lender may already know you.
If you have any credit report anomalies you may have to give an explanation. A clean credit report can make a difference between paying high or low mortgage rates. The better the credit rating the better the interest rates a lending institution can offer you. In a way, you can think of your credit report like money in the bank, because a good credit report will give qualify you for low mortgage rates.
Current Ohio Mortgage Rates News
Current Mortgage Rates for Friday, February 10, 2012 - Mortgage Rates & Trends (blog)
 Mortgage Rates & Trends (blog) | Current Mortgage Rates for Friday, February 10, 2012 Mortgage Rates & Trends (blog) So what does this mean for mortgage rates? In the very short term, unless a Greek settlement is reached, we will likely see some improvement. Stocks are already down massively this morning, while treasuries and mortgage-backed securities are rallying. |
Ohio homeowners, foreclosure victims to get millions in bank settlement - Plain Dealer
 Plain Dealer | Ohio homeowners, foreclosure victims to get millions in bank settlement Plain Dealer By Teresa Dixon Murray, The Plain Dealer CLEVELAND, Ohio -- Homeowners and communities in Ohio are expected to get $335 million of a settlement with five of the nation's largest mortgage servicers stemming from complaints of improper foreclosures, ... Mortgage Plan Gives Billions to Homeowners, but With Exceptions Local Homeowners Applaud Mortgage Settlement |
Housing a "significant headwind" to recovery: Fed's Pianalto (NEWS.GNOM.ES) - NEWS.GNOM.ES (press release)
Housing a "significant headwind" to recovery: Fed's Pianalto (NEWS.GNOM.ES) NEWS.GNOM.ES (press release) CLEVELAND, Ohio (NEWS.GNOM.ES) – The housing market is holding back the broader economic recovery now that foreclosures have become “a national crisis,” a top Federal Reserve official said on Friday. “Housing market issues pose a significant headwind ... |
Total Mortgage Services Receives Arkansas Combination Mortgage Banker-Broker ... - Exec Digital (press release)
Total Mortgage Services Receives Arkansas Combination Mortgage Banker-Broker ... Exec Digital (press release) Total Mortgage is licensed as a mortgage banker, broker and servicer in Arkansas and holds License Number 103968. “Signs of stabilization in the housing market are beginning to appear and with rates near record lows it is an opportune time for ... |
Refinancing Applications Mushroom as Mortgage Rates Drop - LoanSafe
Refinancing Applications Mushroom as Mortgage Rates Drop LoanSafe (Source: Jim Weiker The Columbus Dispatch, Ohio) – Mortgage rates have fallen to the lowest level since the 1960s, prompting homeowners to consider trading in their old loans for new ones. The average rate on a 30-year fixed-rate mortgage fell to 3.88 ... |
Housing a "significant headwind" to recovery: Fed's Pianalto - Baltimore Sun
Housing a "significant headwind" to recovery: Fed's Pianalto Baltimore Sun CLEVELAND, Ohio (Reuters) - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday. "Housing market issues pose a significant headwind to our ... |
Total Mortgage Services Receives Arkansas Combination Mortgage Banker-Broker ... - PR Web (press release)
Total Mortgage Services Receives Arkansas Combination Mortgage Banker-Broker ... PR Web (press release) Total Mortgage is licensed as a mortgage banker, broker and servicer in Arkansas and holds License Number 103968 “Signs of stabilization in the housing market are beginning to appear and with rates near record lows it is an opportune time for borrowers ... |
More help available for struggling homeowners - Middletown Journal
More help available for struggling homeowners Middletown Journal Restoring Stability, an Ohio Save the Dream Initiative, changed its rules in January to make more people eligible for help making mortgage payments. The program could have a significant impact in Butler County, where the foreclosure rate was the ... |