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Archive for the ‘Mortgage advice’ Category:





Stress Reduction Strategy! 5 Questions to Ask Your Mortgage Lender

Posted in Buying a Home, Mortgage advice | October 2, 2013

Buying a home can be so not-fun, especially if it’s your first time or you haven’t financed real estate in a few years. The most stressful part of home buying is probably not choosing a neighborhood or listing the “must-haves” for your next kitchen — it’s most likely your mortgage. To minimize heartburn, then, plan on nailing down your financing and resolving any issues before you go home shopping. You’ll want to discuss these topics with every lender you contact: How much do I qualify to borrow? Answering this question is called pre-qualification, and it’s the first step in the home buying process. Lenders ask you about your income and your monthly obligations – payments for car loans, credit card accounts, student loans, etc. Your regular living expenses like utilities



It’s the Economy: Don’t Be Stupid

Posted in Buying a Home, Home Loans, Market Trends, Mortgage advice, Mortgage Rates, Refinancing | July 19, 2013

Unless you’re a real data geek, you probably ignore the snooze-fest that is today’s economic reporting. GDP, LIBOR, QE3, CPI and all the other head-spinning acronyms can’t be approached before your second cup of coffee, and maybe not even then. However, if you can suck it up and make a point of understanding these two basic-yet-important concepts, you’ll make smarter decisions about your home, your debt and your career. It’s not that hard. Four percent is still a good mortgage interest rate. In fact, it’s really, really good. If you listen to the folks who make their living sensationalizing every routine bulletin (you’ll know them by the number of exclamation points they put in their “news” reports), you might think that mortgage rates are spiking uncontrollably, that housing affordability is



Q & A: Home Equity Loans for Debt Consolidation

Posted in Home Loans, Mortgage advice, Personal Finance | July 2, 2013

Q: My husband and I have been discussing our credit card debt and car loan, which total about $30,000. He says we should get a home equity loan to consolidate our debt. We owe about $95,000 on our mortgage and our house is currently worth about $175,000 according to a local real estate broker. What do you think, and should we get a home equity loan or a home equity line of credit? Thanks. A: Home equity loans can provide debt consolidation at a lower rate than credit card companies usually charge, but there are additional considerations including: Determining that you can afford the home equity loan payment Reviewing other financing needs such as home improvement Ensuring that you won’t incur future credit card debt; this negates the purpose of



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