Another factor to consider is how long you plan to stay in your new home. If you anticipate a significant change in your financial situation or plan to sell your home within a few years, you might want to explore other options. Adjustable-Rate Mortgage Loans (ARM) ...
One the show today I’m breaking down the differences between the different mortgage options and helping you decide which is best for you. Should you go for a conventional loan or would you be better with an FHA loan? And now much mortgage do I need before I am required to move into ...
The primary advantage of a fixed-rate loan is the certainty of knowing your payment amount will not change. However, this certainty may come with the trade-off of slightly higher interest rates. Who Are They Best For? Fixed-rate mortgage loans are an excellent choice for homebuyers who valu...
Getting a mortgage involves a lot of upfront money — and not just your down payment. It's common for lenders to charge an application fee, an underwriting fee and an origination fee, which are typically bundled together as lender fees. The origination fee covers the cost of processing your...
Today’s buyers are fortunate to have access to a wide variety of loan options. Below, you can explore the most popular types of home loans to see which one might be best for you. At the end of the day, you want an affordable mortgage payment and interest rate. How you get there is...
A low-down-payment mortgage can put you on the fast track to homeownership if you lack the funds to make a bigger payment, and there are several options available.
Is an FHA mortgage loan right for me? Are you unable to afford a large down payment, and do you have less-than-stellar credit? If so, an FHA loan may be for you. If you have a credit score of 580 or higher, you can get an FHA loan with a down payment as low as 3.5%. But...
Dayzia E., 1st time home buyer, down payment assistance, best mortgage lender Jerry is an awesome lender! He was able to help us find options that were way better than what we thought was possible for us. Jerry was one of my Boy Scout leaders and put in countless hours to provid ...
You should get a fixed-rate loan if you’re looking for more stability with your monthly mortgage payment. A fixed-rate mortgage makes it easier to budget for your house payment. Also, if interest rates are low, you can lock in a great rate and save yourself some money over time. ...
MMAs are offered primarily by banks and credit unions of all sizes, and can be used for short-term or long-term savings. Some examples of common uses are: Emergency savings. Money you're putting away for a large purchase, such as a car or house down payment. Money that's not currently...