The monthly mortgage payment can be one of the most significant household expenditures for a family. However, while it can be a sizeable amount, there are certain household things you may be able to eliminate that will help you put down more money and pay your mortgage off a little faster.
Understanding Automated Underwriting and How It Impacts the Mortgage Application Process
From the time you’ll have to wait to the documentation that is required, here are some of the details on what you can expect when dealing with an automated underwriter.
Case-Shiller: Home Price Growth Slows in May
According to the S&P Case-Shiller 20-City Home Price Index, home price growth in May dropped to a seasonally adjusted annual rate of 5.20 percent as compared to April’s reading of 5.40 percent. Analysts said that low mortgage rates continue to support housing markets, but also noted that affordability due to rising home prices is sidelining some would-be buyers. High demand for homes coupled with slim supplies of available homes have driven prices up for months; analysts said that “tentative signs” of slower gains in home prices were seen.
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