Home Mortgage Financing

Potential home buyers consistently regard saving for the down payment as one of the greatest barriers to buying a home, and who can blame them? Although the exact dollar amount required up front by the lender depends on the type of mortgage and purchase price, buyers generally need to come up with several tens of thousands of dollars in order to take out their home loan. Of course, as is true with any statistic, there is a wide range of averages observed across the nation's fifty states, and both down payment amounts and percentages follow this rule. With that in mind, LendingTree sought to determine which state's mortgage borrowers were offering up the largest and smallest down payments in Q3. They found that Arkansas buyers paid some of the smallest amounts up front, both in dollars and as a percentage.

You've heard it a million times before: increasing your credit score can have amazing benefits. However, you might be skeptical that moving this seemingly-magical number up a few points can really make all that much of a difference. LendingTree decided to prove the value of a great credit score by quantifying the money that someone with a "very good" score would save in interest compared to someone with a "fair" score. They found that a score of "very good" would save you over $29,000 on mortgage debt alone!

Deborah Nance, Reverse Mortgage Specialist, does an excellent job clearly and simply explaining how reverse mortgages work and what you can expect.