Smart homebuyers know that mortgage rates and terms can vary widely among lenders. While your credit score and history will influence what rates and terms you’re offered, there’s a wide range of flexibility, which means shopping around for a pre-approval makes sense. At the same time, it’s important to minimize credit inquiries to protect your credit rating.
Whether you’ve never heard the phrase ‘home equity’ before or you have a little familiarity, here are the ins and out of what it means and how this asset can help your financial outlook.
Last week’s economic reporting included readings on construction spending and labor sector readings on jobs and unemployment. Weekly reports on mortgage rates and jobless claims were also released.
When delving into the realities of home ownership, there can be many factors involved that make it difficult to determine what you need to know and what can wait until later. If you happen to be a first-time buyer who’s looking for the best tips for purchasing a home, look no further than the following three pointers to set you on the right path.
Potential homeowners need to understand the different types of loans available. This is a major financial decision, and it is important to evaluate the benefits and drawbacks of each option.
If you’re ready to buy a home, getting approved for a mortgage is a critical step that you can’t skip or rush. So how can you ensure your mortgage gets approved quickly and without any hassles? Here’s what you need to know.
There is a lot of terminologies involved in the mortgage application process, and one common term people come across is a mortgage point. What exactly is a mortgage point, and how might impact the price of the loan?
Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices and the National Association of Realtors(R) released its monthly report on pending home sales. Weekly reports on mortgage rates and jobless claims were also released.
Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, mortgage insurance may still be needed, even if it’s not typically required by your lender.
When shopping for a mortgage, it is important to take closing costs into account. Let’s take a look at some major mistakes that could result in borrowers paying more than they need to in closing costs.
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