Many think that because the Federal Reserve raised the Federal Funds rate by .25% yesterday that it means interest rates went up by .25%. That is not the case! Mortgage rates actually went down almost .25%.

“When I bought it for $150,000, I borrowed some money from Great Western Savings and Loans. So I probably only had $30,000 of equity in it or something like that – it’s the only mortgage I’ve had for fifty years,” Buffett said.

Florida leads the country with almost 1 in 5 mortgage applications getting turned down.

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It’s a common misconception that renovation loans are intended ONLY for run-down and dilapidated properties or those in need of repair. The truth is that renovation loans can be utilized for a number of different reasons, including to make upgrades to older homes.