Tag: Mortgage

Posted on 02/04/2024

Veteran Mortgage Relief Guide: Key Terms & Details

The U.S. government has multiple options available for military veterans who may be facing foreclosure. Through the Department of Veterans Affairs, borrowers can get financial relief through means such as forbearance, deferment, refinancing and more. However, there are some crucial details to be aware of. Here are some of the most important things to know about current veteran...

Mortgage

+ 3 more

Posted on 01/08/2023

3 Financial real estate terms you should know

The more real estate terms you understand, the more comfortable you will be in your home buying process. This is especially true for financial vocabulary related to real estate transactions. To help familiarize you with some of these important concepts, here is a quick guide to financial real estate terms: Fixed rate mortgage A fixed rate mortgage is...

Down Payment

Fair Market Value

+ 8 more

Posted on 10/30/2022

Pros and cons: Mortgage points

When buying a home, many homebuyers tend to search for the best mortgage interest rates available. While some may find that perfect rate, others may opt to take advantage of lender-provided options, such as mortgage points. Mortgage points are designed to help buyers bring down their interest rates by paying them ahead of time. Sometimes considered “discount points,”...

Home Finance

Home Financing

+ 7 more

Posted on 06/05/2022

Loans: Is an FHA Right for You?

If you're in the market for your first home, there's a good chance you'll need to take out a mortgage. One of the most popular mortgage types (especially for first-time buyers) is known as a Federal Housing Administration (FHA) loan. What is an FHA Loan? Specifically, an FHA loan refers to one that is backed and insured by...

FHA

Fha

+ 8 more

Posted on 03/13/2022

The Major Variables Affecting the Price of Homes

Housing prices are constantly changing, which can make both buying and selling a home more complicated. While it’s difficult to predict future changes, it’s important to understand the key factors that affect the housing market and home prices. Here are the five major things that affect housing prices: Economic Change The overall health of the economy is a...

Economy

Home Prices

+ 7 more

Posted on 12/20/2020

How Your Credit Score Affects Your Interest Rate

Image by Tierra Mallorca from Unsplash One of the most important things to check once you decide to start the home-buying process is your credit score. The three major credit bureaus keep track of how you pay for your credit and how much credit you have. Your score fluctuates, sometimes daily, depending on how much you owe and...

Credit Score

Mortgage

+ 1 more

Posted on 08/02/2020

PMI and Down Payments

Image by Charles 🇵🇭 from Unsplash Part of buying a home is researching the market and your finances. Most lenders require you to put at least 20 percent down or pay private mortgage insurance (PMI). Since PMI is a cost that does not lower your interest rate or principal, it’s almost always better to save up that hefty...

PMI

Mortgage

+ 1 more

Posted on 07/26/2020

Common Loan Terms of the Jumbo Mortgage

Photo by Peggy und Marco Lachmann-Anke via Pixabay A jumbo mortgage refers to a high-priced loan, usually meant for a luxury property. And while this loan may have once been reserved for the millionaire investors of the world, it may not be as exclusive as you think. If you're interested in what it takes to apply, it helps...

Mortgage

Jumbo Loan

+ 1 more

Posted on 07/21/2019

Reasons Your Mortgage Application Could Get Rejected

A wise man once said to hope for the best, but plan for the worst. When you’re contemplating buying a house, even before beginning the actual application itself, it’s helpful to consider what could possibly lead to its rejection. This is especially important if you’ll be applying for your home loan at a traditional bank. These are particularly...

Mortgage

Loans

+ 1 more