Category: Mortgages
What is a piggyback mortgage loan & how does it work?
At its simplest, a piggyback mortgage can be defined as a second mortgage, typically a home equity loan or home equity line of credit (HELOC). …
Here’s how your mortgage compares to your neighbors’
Figuring out how much home you can afford entails much more than the interest rate on a mortgage loan and what your monthly mortgage payment …
What Is an assumable mortgage?
Homebuyers have more mortgage loan options available when buying a home than they may think. One of those could be the assumable mortgage, a home loan …
Can you lose your house with a reverse mortgage?
For older Americans who may find they need more money in retirement, using a reverse mortgage to convert some of their home’s equity into cash can …
What is mortgage forbearance?
When homebuyers take out a mortgage, they’re likely dreaming about living out their days in a house of their own—whether that means bedecking the front porch …
Top 30 states with mortgage foreclosures for March
Despite the economic fallout and job loss from the pandemic, the number of U.S. properties with foreclosure filings in March was 11,880, down 75% from last …
A guide to lender-paid mortgage insurance
Homebuyers have a variety of conventional mortgages to choose from. The element most have in common is private mortgage insurance—usually required when the down payment is less …
How often can you refinance your home?
Other than possible lender-imposed waiting periods after a mortgage loan closes, you can refi as many times as your heart desires. But you’ll want to crunch …
Tips when shopping for a mortgage
Shopping for a car: fun, freeing and full of fresh new smells. Shopping for a puppy: heartwarming and full of suspicious smells. Shopping for a mortgage: …
What is a good mortgage rate?
Because your interest rate is the cost you pay to borrow money, it makes sense that you’ll want to strive to get the lowest rate possible. …
What is mortgage amortization?
If you’re looking into getting a mortgage for the first time, congratulations! You’re about to embark on a brave new adventure in adulthood. Like most adventures, …
What credit score is needed to buy a house?
What’s your number? That’s not a pickup line; it’s what a lender will want to know. The number will range from 300 to 850, and it …
Understanding mortgage basics
Do you ever window shop for the perfect home, whether by browsing online or taking a stroll through your favorite neighborhood? You’re not alone. It’s fun …
Easy ways to finance your home improvement projects
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How do home improvement loans work?
Creating a dream home on a budget can be tricky. On one hand, renovating a home can be one of the most efficient ways to grow …
These are the cities where home refinancing is easiest
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Top 30 states with mortgage foreclosures
Despite the economic fallout and job loss from the pandemic, the number of U.S. properties with foreclosure filings in February was 11,281, down 77% from last …
Guide to government home loans
Ah, home buying. It’s invigorating! Complex. Expensive, too. This is why the vast majority of homebuyers rely on mortgages to obtain their dream homes. Conventional loans …
Here’s what 2020 did to American mortgages
We still don’t know the full effect the pandemic and resulting economic slowdown will have on the housing market. That said, understanding where 2019 and 2020 …
Buying a home with cash vs a mortgage
In some areas, there simply isn’t enough desirable housing available for the number of interested buyers — and, in these hot spots, buyers will likely find …
How your credit score affects your ability to get a mortgage
When it comes to credit score requirements for landing a mortgage, there are a variety of factors at play — like the type of mortgage you’re …
10 types of mortgages you need to know about
Finding the right home is just one part of the equation when buying a home. Choosing the right type of mortgage loan to finance the biggest …