One phrase you’ll see repeatedly if you're buying a home is “annual percentage rate” or APR. But what does that mean?
Category: Intro to Mortgages
Typically, the higher the risk, the higher the interest rate. But you aren’t the only factor a lender uses to assess the risk.
A VA loan is a home loan that is guaranteed by the United States Department of Veteran Affairs. The loan is designed to help make home ownership possible for those who are currently serving or have served in the military.
Having your mortgage application denied is probably a lot more common than you think. The truth is, there are a wide variety of reasons as to why you might not get approved.
We all know that building home equity is good, but why? How is home equity helpful? Before we get into why you want to build equity in your home, we need to learn what home equity is.
In 1935, the U.S. Department of Agriculture released a loan program intended to help populate more rural areas. Fast forward to 2019, the USDA loan is still a great way to help finance a home in these rural areas.
One of the most common confusions in the home buying process is the difference between private mortgage insurance and mortgage insurance premium. So what's the difference?
A reverse mortgage is a home loan program for homeowners 62 years of age or older that allows the homeowner to tap into their home equity.
An annual percentage rate (APR) is the amount you’ll pay in interest plus extra fees. Essentially, this amounts to the annual price for borrowing money from your lender.
You may think the words pre-qualification and pre-approval can be used interchangeably, but the fact of the matter is these words...