A major step in the homebuying process is paying the down...

Prospective homebuyers and current homeowners know that a...

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...

Getting preapproved for a mortgage is an important part of...

A major aspect of financing a home is choosing the “term”...

Mortgage points can be a confusing topic, especially if...

Recasting mortgage payments is a little-known gem when it comes to homeowner finances. It’s often viewed as a method to lower monthly payments without extending the length of your loan term. But what exactly is mortgage recasting? Are there any disadvantages to it? What about my interest rates? Will my overall loan balance increase or decrease? Here’s a...

If you’re interested in purchasing property, you might be wondering, “how long does it take to buy a house?” Home buying is a lengthy process even when everything goes smoothly, and can easily become longer and more complicated with every potential hiccup. To help you better prepare for the process and save time, here are some key tips...

The U.S. Department of Veterans Affairs has helped countless veterans finance their home ownership goals. While you have the choice of a conventional loan offered by other mortgage lenders, there are some significant benefits to VA loans. Here are some of the most important advantages to consider: No Down Payment The most famous benefit of VA loans is...

A loan from the U.S. Department of Veteran Affairs can be an excellent choice for financing a home purchase. While VA benefits are generally reserved for veterans, there are a few exceptions with mortgage programs. Here are some other ways you could be eligible for a VA loan: Active Duty Fortunately, you don't have to have served in...

Image by pasja1000 from Pixabay Most homeowners have a mortgage against their house, and homebuyers who purchase existing homes usually secure a traditional mortgage before closing. When building a new house, however, you’re likely to need a construction loan before getting a home mortgage. Here’s a breakdown of each, including how they’re used in the new home building...