Archive for the ‘30-year mortgages’ Category

FHA Mortgages: Because 5% Mortgage Rates Are Better Than 12%

Tuesday, May 14th, 2013

We usually think of mortgages in terms of the here and now, especially when they are in the news as much as they are

today. In fact, there is a history associated with mortgages, a history which explains why mortgages are widely affordable and how the FHA loan program drove down interest rates.

Depression-era mortgages were, well, depressing.

A good place to start is with the Great Depression, which began in the late 1920s and continued through much of the 1930s. At the time most mortgage terms ranged from three to five years and required down payments of about 50 percent. These so-called “term” mortgages were actually a dangerous form of financing because they had to either be paid off or renewed every few years. That’s not a problem if property values hold up and borrower incomes are strong. However, during the Depression, home values fell and roughly a quarter of the … Though there are www.buyessayonline.ninja number of academic help company in this league, but only few are really trustable