Mortgage lending is yet another industry that has undergone massive change by the internet. Online lenders advertise fast and easy transactions while traditional lenders offer more personal service. Regardless of which option you choose, it’s...
Mortgage lending is yet another industry that has undergone massive change by the internet. Online lenders advertise fast and easy transactions while traditional lenders offer more personal service. Regardless of which option you choose, it’s...
In the often-confusing world of finance, the Consumer Financial Protection Bureau (CFPB) is a valuable source of free information for homebuyers and others making a major purchase or investment. Created by Congress following the 2008...
When buying your first house, the terms and conditions of the mortgage process can be confusing. Here’s a primer on two such terms: points and the origination fee. Origination fee. This is the cost that...
Homebuyers must make two large payments when purchasing a house. One is the earnest money paid upon execution of the sales contract. The second is the down payment to the lender at closing. What are...
Shopping for a home also means shopping for a mortgage. If this is all new to you, the multitude of mortgage types might be confusing. Here’s what you need to know. Fixed-rate mortgage. The fixed-rate...
Each month you send off a hefty chunk of money to your mortgage company. If you’re like most people, it represents 25 percent to 30 percent of your income. That payment is split into as...
Buying a first home is a rite of passage. After crunching the numbers, receiving preapproval for a mortgage and finding a trustworthy agent, you’re ready to go house hunting. To make the adventure less daunting,...
Accumulating down payment money for a house is important, but can be challenging, especially for millennials bogged down in massive student loan debt. But don’t despair. Help is available through down payment assistance programs —...
The financial world hangs on the mere hint of a possible interest rate increase by the Federal Reserve. But what about rank-and-file consumers? What does the Federal Reserve do, and how does it affect what...
When applying for a mortgage, one of the first decisions a buyer must make is whether to lock in an interest rate on a mortgage. It’s somewhat of a gamble, but can be less stressful...
