What to Expect from the What's My Payment Blog

The mortgage world is ever changing. We post commentary on situations & questions we receive most often. Got a question? Ask us.

posted by: What's My Payment?

Mortgages are complicated. And yet they are markedly more straightforward than anytime in the last 10 years. This is good. And bad.

The misleading, stated-income, stated-asset, option-ARM, prepayment penalty balloon loan is long gone; likely forever. What's left are cookie cutter home loans (FHA, VA, 30 and 15 year fixed), only the same cookie cutter might cut a dozen differently shaped cookies. While the myriad of available financing options has dwindled to behemoth backed institutional mortgages, the remaining loan programs offer homebuyers fair and responsible methods for buying a home.

This space provides answers, advice, market conditions, loan program updates, and much more. Additionally, questions received regarding scenarios and circumstance will provide the majority of post topics.

Next: FHA vs Conventional Loan

*Every effort is made to post valid, up to date information. Mortgage guidelines and programs constantly change. Therefore, the content of each post should be viewed and used as a starting point. Please contact us for current guidelines pertaining to this post or for more information.

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
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*All calculations on www.WhatsMyPayment.com are for demonstration purposes only.
Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.

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Excellent Credit

Pay everything on time. 700 plus credit score.

Good Credit

Pay on time with an occasional 30 day late payment. 640-700

Fair Credit

Some late payments and/or collections. 600-640

Poor Credit

Late payments, collections, judgments, bankruptcy. < 600

YES - Within the last three years.
YES - Between three & seven years ago.
YES - More than seven years ago.