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Informational Articles
- 15-Year, 30-Year, or a Biweekly Mortgage? -
Lenders offer a wide array of loan types in varying lengths--including 15, 20, 30 and even 40-year mortgages.
- All About Adjustable-Rate Mortgages -
Adjustable-rate mortgages (ARMs) differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan.
- Closing Costs -
The bundle of fees associated with the buying or selling of a home are called closing costs.
- Getting Your Finances in Order -
A crucial step in starting your search for a new home is having a clear idea of your financial situation.
- How Mortgage Loans Work -
A traditional fixed-rate mortgage payment consist of two parts: (1) interest on the loan and (2) payment towards the principal, or unpaid balance of the loan.
- How Much Can You Afford? -
Your budget can affect everything from the neighborhoods where you look, to the size of the house, and even what type of financing you choose.
- Leveraging Your Money -
Leverage allows you to use a small down payment and financing to purchase a larger investment.
- Refinancing -
Refinancing your home can be an excellent way to bring down your monthly mortgage payment, raise cash, or consolidate debts with high interest rates.
- Saving for the Down Payment -
Saving funds for a down payment should be part of an overall program to get your finances in order prior to shopping for a home.
- Understanding Different Types of Loans -
From traditional mortgages to adjustable-rate and hybrid loans, there are financing packages designed to meet the needs of virtually anyone.
- When Should You Pay Points on a Loan? -
Homebuyers often have the option of choosing a loan with a lower interest rate by paying points.
- Your Credit History -
Virtually all lenders will want to see a copy of your credit report.
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