Tag: Mortgage

Posted on 09/22/2024

How much should you spend on a down payment on a house?

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

Home Financing

Down Payment

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Posted on 04/23/2023

The who, what & why of servicing a loan

Mortgage servicers are companies responsible for the...

Loan Servicing

Mortgage Lender

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Posted on 10/02/2022

Mortgage rates: A brief guide to common payment options

30-year mortgage rates are the norm among mortgage rates. Most options for monthly payments involve a fixed interest rate, while there are a few that may offer an adjustable rate mortgage for homebuyers searching for interest flexibility. However, some homeowners may want to repay their mortgage lenders faster than originally planned, while others may need more flexibility in...

30 Year Mortgage

Home Loans

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Posted on 08/14/2022

Term of a mortgage: Understanding the basics

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

Adjustable Rate Mortgage

Fixed Rate Mortgage

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Posted on 05/01/2022

15-year fixed mortgages: A quick guide

Prospective homebuyers and current homeowners know that a mortgage is likely to go hand-in-hand with your home, unless another arrangement has been made. However, there are many options available for those monthly mortgage payments, most commonly through 30-year fixed rate mortgages and 15-year fixed rate mortgages. Most know about the 30-year option, but what about the 15-year fixed...

15 Year Mortgage

Fixed Rate Mortgage

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Posted on 11/14/2021

5 Ways Sellers Can Reduce Their Risk When Offering Financing

Seller financing is an excellent option for some property buyers and sellers. However, no matter the type of financing the seller offers, they are taking on a sizable amount of risk. Underwriting and supplementing a mortgage means dealing with the consequences if the buyer defaults on the loan. This is one reason many sellers hesitate to offer financing....

Financing

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Posted on 08/30/2020

Do I qualify for a conventional mortgage?

Photo by TheDigitalWay via Pixabay Looking to buy your first home? Unless you have a couple hundred thousand in the bank, a rich family member or a winning lottery ticket, you’re going to have to borrow money. TV ads suggest it’s as easy as clicking your phone, and in some cases it might be, but you should know...

Mortgage

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Posted on 11/17/2019

Prequalified vs Preapproved: Tips On Securing a Mortgage Before Buying a Home

If you’re a first-time homebuyer, odds are you’ve thrown the words “prequalified” and “preapproved” interchangeably. However, when it comes to home loans, there are some very important differences between the two. For buyers hoping to purchase a home with a few missteps and misunderstandings as possible, it’s vital to understand the procedures involved in acquiring financing for a home....

Mortgage

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