Mortgage Daily

Welcome to the weekly review of mortgage news and views from Zillow’s Mortgages Unzipped blog . This week, we’ve covered a lot of ground from rising costs in government-backed loans to a third-person scenario on shopping for a mortgage rate. Keane Ng tells us how: Government Mortgages Are Becoming More Expensive “Government backed mortgages were created during the Great Depression to help the housing market.  Lenders didn’t have money to lend, the housing market was in decline and nobody trusted the banks that were holding their deposits.  Sound familiar?” Evan Vanderwey makes a case for: How & Why You Get Your Money Back By Refinancing “The clearest example I can give though is in the housing market. A very close connection exists between the drop in housing values and the drop in interest rates. If the housing market had not dropped as much as it has, we would almost certainly not have interest rates as low as they are right now.” Justin McHood defines: Mortgage Definition: Non Purchasing Spouse “Depending on the state that you live, the non purchasing spouse may have a big impact on qualifying for a mortgage… even though they are not on the loan.” Eleanor Thorne Defines: Veteran’s Administration Home Loans over $417,000″> “Did you know that you can get a VA Home Loan over the $417,000 limit? With Mortgage Insurance rates for jumbo loans being so high, a “VA Jumbo Loan” might be the most affordable option!” Yours Truly brings on a new MU team member: Welcome Jeff Belonger To Mortgages Unzipped “Jeff is one of the early adopters of blogging and social media within the real estate industry. He has a very outgoing personality and a readily apparent passion for his craft. Over the years he has established a team concept with his processing and closing operations that ensure his clients receive personal attention throughout the entire loan experience.” Jeff Belonger outlines a scenario: Attn. Shoppers: Mortgage Interest Rates – On Sale! “Picking your lender. Let’s assume you are talking to three different loan officers. We’ll label them A, B, and C. A has the best rate by a 1/4 of a percent on a FHA 5/1 adjustable and the lender fees from all three are relatively the same. But B explained in detail on how the adjustable rate worked now and later. B also gave you food for thought on what it might be like when refinancing in the near future.” Want to keep up with news and views regarding consumer mortgage issues? Subscribe to Mortgages Unzipped today ! Are you interested in joining the web’s best team of consumer facing mortgage bloggers? Click here to start the application process. Photo Credit: “Zip” By Justus Hayes aka Shoes on Wire

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Government-Backed Mortgages; How to Get Your Money Back by Refinancing, VA Loans and More…

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