For homeowners, equity is like an extra bank account.
Many prospective homebuyers face a big hurdle: the down payment.
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.
The Federal Housing Finance Agency (FHFA) sets a baseline loan limit across the country.
A fixed-rate mortgage is one of the most common type of home loans because it’s the least risky for the borrower.
