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If you're refinancing a home, you know that getting the best mortgage depends largely on a solid appraisal

You may have heard the names Fannie Mae and Freddie Mac in the news and wondered what they are. They are government-sponsored enterprises that play a significant role in the mortgage industry. Both Fannie and Freddie buy mortgages from lenders, pool them together and sell them as mortgage-backed securities to investors.

Boomerang mortgage borrowers are back. Some of the millions of people who lost their homes to a foreclosure, bankruptcy or short sale during the past decade are returning to the real estate marketplace. What makes their homecoming possible? The time required to wait for new financing has tumbled from as long as seven years to as little as 12 months and in a few cases even less.

Becoming a landlord can be a savvy financial move for those prepared to take on the responsibility. With two or more properties building equity at the same time, you can expand your real-estate portfolio and build your wealth.

If you have ever applied for a loan and been denied credit, you know how discouraging that can feel. Why does it happen? Below are some of the more common reasons lenders tend to turn down loans. Keep in mind that all lenders are different, and the intent of this article is to give you insight into their thinking, not to discourage you from applying for a loan.

Ever wonder how a lender decides the interest rate you qualify for when you apply for a home loan? Mortgage rates are partially a function of overall market levels, which are significantly affected by decisions of the Federal Reserve. If market rates are in the 5 percent range, for example, then most borrowers won’t get rates of 3 percent or 8 percent.

There is no shortage of tips to get a mortgage, but there are also ways to lose one. That may come as a shock after so much preparation and paperwork, but borrowers with solid credit and strong incomes can miss a good mortgage deal because of a surprise snag they could have avoided.

If you are applying for a purchase or refinance mortgage, you may not know exactly who gives final approval to your loan. Well, that person is the underwriter. He or she is someone you will likely never see or meet, but whether or not you get a home loan largely rests on their shoulders.

Just as every home is unique in its own way, a home’s best assets differ from one property to the next.