Applying for a home loan? As a mortgage borrower, you will have two rates — your mortgage rate and your Annual Percentage Rate, or APR.
What is the difference between the two? Your mortgage rate is the base rate you'll be charged to borrow the... (Read More)
Is there anything holding you back from buying a home? In the latest Housing Opportunities and Market Experience survey by the National Association of Realtors, non-homeowners were asked about the barriers preventing them from purchasing a home... (Read More)
Ready to buy your first home? Your first step is to visit a mortgage lender to see how much house you can afford. But be prepared for the paperwork that comes with it. Here are the documents you'll be asked to provide as part of the loan application... (Read More)
When purchasing a home, your mortgage pre-approval is based on your current financial situation. That's why once you are pre-approved, you should avoid making big changes to your finances. Here are several things you'll want to avoid doing while... (Read More)
Think you need a huge down payment in order to buy a home? Then you're in for some good news.
The "need" for big down payments is a myth in today's lending environment. Truth is, programs offered by three federal agencies are helping borrowers... (Read More)
Curious about what type of information you'll need to provide about yourself if you're applying for a mortgage? Here's what we'll need from you (and a co-borrower if you have one) to get started on your loan application:
—Social Security Number... (Read More)
Think that you need a 20 percent downpayment to purchase a home? Many prospective home buyers buy into this myth, studies show. Yet research shows that among those who take out a mortgage to purchase a home, the median downpayment is about 10... (Read More)
Do you have a fire extinguisher? If you don't, it's time to add it to your shopping list. Every homeowner should have one on each floor or area of their home and know how to use it.
Fire extinguishers are life savers. Make sure to purchase one... (Read More)
Homeowner and renter insurance plans are designed to protect you in the event of a disaster such as a fire. But with all the items in an average household, it's imperative that you document your belongings so that you can file an accurate and timely... (Read More)
Whether you're buying or refinancing, you have a number of choices. One of those is your loan term. While the overwhelming majority of home buyers and home owners elect to go with the 30-year mortgage, you may be wondering if a 15-year home loan... (Read More)