If you’re new to the homebuying process, chances are you’re wondering what the term “government backed mortgage” really means. A government backed mortgage is not a guarantee that you will be approved just because the federal government is backing the loan.
Mortgage & Industry Blog
Having a great credit score will provide you with better mortgage options, but what happens after you acquire a mortgage? How does a mortgage affect your credit score?
If you’re in the process of purchasing or refinancing a home, chances are you’ve come across the term mortgage points.
Although a 20% down payment is recommended, it’s not necessarily required. There are options to put down much less, but it may not necessarily be the best decision for you.
If you’ve been researching the home buying process you’ve probably stumbled upon the term origination fee. Mortgage origination fees are upfront costs that must be paid to the lender in exchange for originating your mortgage.
And although title transfers may seem simple, they can actually become quite complicated if there are unresolved liens or claims on the property. This makes title searches important for both buyers and sellers.
If you need to take out a loan, you’re going to have to pay back that loan with interest. Interest is paid in exchange for the convenience of borrowing money. It’s sort of like the price on borrowing money...
Ever since the Federal Reserve slashed short term rated and pushed money into the mortgage market, interest rates have begun to stabilize at extraordinary low numbers. These low interest rates are making it a fantastic time to refinance...