Tag Archives | loan

Bank of America faces bad home equity loans and mortgages

              According to the Niche Report, Bank of America Corp., whose home-equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time. That’s what Barclays Capital estimates the bank will report […]

30-year mortgage rates fall below 4% for the first time

On CNN’s website today, Les Christie announced that mortgage rates have fallen below 4% for the first time in history.  This week, rates dropped to 3.94% for a 30-year-fixed-rate loan and 3.26% for a 15-year-fixed-rate loan. Rates this low mean huge savings for borrowers.  Just a drop from the already low rate of 4.60% can […]

Dream Makers Grant for military first-time homebuyers!

The Dream Makers Program offers grants for down payments to first-time home buyers of modest means who valiantly work to protect our country’s national security. You don’t have to be a Pentagon Federal Credit Union member to benefit from Dream Makers, and you can apply the grant to a mortgage from any financial institution. How […]