Many prospective homebuyers face a big hurdle: the down payment.
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Whether you’ve been living with family or renting with roommates, becoming a homeowner is a huge stepping stone in anyone’s life.
You may be wondering how important credit utilization rate is in determining your credit score. The short answer? Very.
Private mortgage insurance, commonly abbreviated as PMI, is a monthly payment that protects lender against a loan foreclosure.
Points are used to pay for a reduced interest rate on a home loan. Each point correlates to one percent of the loan amount.
The annual percentage rate gets a lot of borrowers confused when shopping for a loan.
An adjustable-rate mortgage (ARM) is a loan program made up of two parts: a fixed rate period, and a series of rate adjustment periods.
A fixed-rate mortgage is one of the most common type of home loans because it’s the least risky for the borrower.
Determining how much home you can afford takes some number crunching.
