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Specter of the S&L crisis haunts today’s mortgage market

Housing Wire

In 1980, some 4,000 savings and loan institutions (S&Ls or thrifts) accounted for about half of the nation’s $960 billion in outstanding home mortgages at that time. RTC), closed 747 S&Ls with assets of more than $407 billion. . The firm specializes in asset-backed credit, whole loans and private equity.

Mortgages 355
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Should You Pay Off Debt With a Cash-Out Refinance? What to Consider

HomeLight

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

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Mortgages with Low Credit Scores - Your Guide to Affordable Home Financing

Realty Biz

Mortgage insurance: If your credit score is low, lenders may require you to pay for private mortgage insurance (PMI) to protect their investment in case of default. Longer time to build equity: With a higher interest rate and potentially larger down payment, it may take longer for you to build equity in your home.

Finance 97
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FHA Guidelines

Real Estate Finance HQ

Credit Score: FHA loans feature very lenient credit requirements; the following score ranges should give you an idea of what you can qualify for: 500 and below: likely cannot get an FHA mortgage. 620 and above: Usually will have their pick of FHA mortgage products and lenders. Fixed Rate Mortgages. Description.