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Fixed Rate vs Adjustable Rate Mortgages

You are ready to apply for a mortgage. Your question? Should you take out a fixed-rate loan or an adjustable rate? As with most mortgage questions, there is no one…

Buying Down an Interest Rate with Points

As a savvy consumer, you should always be looking for ways to shave some money from your monthly budget. Even small adjustments can add up to significant savings over the…

Down Payment Assistance Programs

For those at the low-to-moderate-income level, the most substantial barrier to homeownership are the closing costs and a down payment associated with obtaining a mortgage loan. Because of this, most…

Compare Two Mortgage Loans

When purchasing a home the mortgage you choose and the options you choose with it will have significant impact on how much your home costs you in the long run.…

Using Home Equity for a Major Purchase

When making a major purchase, using a home equity loan or line of credit is an alternative to financing offers often provided by a seller or manufacturer. In such cases,…

Qualifying for a Mortgage

Qualifying for a mortgage loan today is no easy task. However, it is also far from an impossible one. Mortgage lenders and banks today only want to lend mortgage money…

Should You Refinance Into a Shorter Term Mortgage?

When mortgage rates are high — and in December 2022, the rate for a 30-year mortgage loan was at 6.27 percent, while the 15-year fixed-rate mortgage loan was at 5.52…