Since China's central bank and the banking and insurance regulator established the dynamic adjustment mechanism, at least 12 cities across the country have adjusted the mortgage rates for first-time home buyers, data from China Index Academy said. A report released by Beike Research Institute pointe...
Some conventional loans may require only a 3% down payment for first-time home buyers. Traditional loans’ appeal is their flexibility and the variety of options they offer regarding loan terms and rates. However, they generally require a more robust credit score and substantial down payments than...
Generally, interest rates are higher for people with lower credit scores, regardless of whether they are first-time or seasoned homebuyers. Look at the entire loan package to choose the best option. Many first-time homebuyers falsely believe that the loan with the lowest interest rate is the on...
In August, the People's Bank of China said that from today, the interest rate on mortgages for first-time buyers must not fall below the loan prime rate, a market-led mechanism reset each month to help lenders peg their interest rates. It said loans on second homes must be at least 6...
Rising mortgage rates have made "a significant negative effect on the ability of a family to qualify for and purchase a home, particularly for first-time homebuyers," the groups said in aletterto Yellen.
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City Mortgage Program adjusts target for first-time home buyersBill Rumbler
The Mortgage Reports covers mortgage rates, mortgage news, mortgage strategy, and real estate. NMLS #1019791.
Rates for a home purchase and mortgage refinance are often similar. However, some lenders will charge more for a refinance under certain circumstances. Typically when rates fall, homeowners rush to refinance. They see an opportunity to lock in a lower rate and payment for the rest of their loa...