The terms used in the mortgage industry can be confusing. A mortgage payment looks like one large payment, but it is actually made up of several different parts. The main parts of payments are principal and interest. The amount of your monthly mortgage payment is based on your loan amortization, which is the time it...
Category: Intro to Mortgages
One phrase you’ll see repeatedly if you're buying a home is “annual percentage rate” or APR. But what does that mean?
If you have been finding it very hard to get a mortgage, there are certain things you can do to make the whole mortgage process easier for you.
There’s a reason homebuyers are always hearing that they should get pre-approved before shopping for a home, and yet, many buyers still choose not to get a pre-approval.
With today’s interest rates still incredibly low, refinancing is still a common topic of discussion. Refinancing can be a great way to help save money, but it’s not a great option for everybody.
It’s a common misconception that FHA loans are for first-time homebuyers while conventional mortgages are for seasoned homebuyers, but that’s not necessarily the case.
It's easy to forget about the cost of closing on a home. And more often than not, buyers are surprised by how expensive closing costs can be. It's important to be aware of what closing costs are so you can make educated decisions about your mortgage.
A reverse mortgage is a home loan program for homeowners 62 years of age or older that allows the homeowner to tap into their home equity.
If you’re new to the homebuying process, chances are you’re wondering what the term “government backed mortgage” really means. A government backed mortgage is not a guarantee that you will be approved just because the federal government is backing the loan.
If you’re in the process of purchasing or refinancing a home, chances are you’ve come across the term mortgage points.