When it comes to getting a home loan, many borrowers focus on getting a low interest rate. That makes sense because snagging a lower interest rate means that it ultimately costs you less to borrow money. However, high or low isn’t the only thing related to the interest rate that you’ll want to consider when …
How Does Refinancing Work?
If you have a mortgage and a mailbox, then you’ve probably received at least one offer inviting you to consider refinancing. Frankly, you’ve probably received way more than one, so it’s only natural to wonder, “How does refinancing work?” It’s fairly simple.
The Difference Between Prequalification and Preapproval
In the world of home loans, what is the difference between prequalification and preapproval? Yes, these two terms sound similar, and they are sometimes even used interchangeably. However, they actually have distinct meanings and come with their own sets of pros and cons. So if you’re hoping to buy a home soon, you’ll need to …