You may be eager to carve out a little more wiggle room in your budget. You may have a desire to spend your hard-earned dollars elsewhere. Or, you may simply be a naturally thrifty soul who enjoys saving money wherever you can. Whatever your reason, knowing how to lower mortgage payments can certainly come in …
How Much to Offer on a House
Television’s longest-running game show, “The Price is Right” has been challenging contestants to win a turn on its stage by coming as close as possible to the perfect price without going over since its debut in September 1972. In that time, numerous strategies have emerged, but the show endures because the task remains challenging. For …
The Steps to Buy a House
You’re poised to make the leap: After years of renting, you’ve decided that it’s time to become a homeowner. How do you do it? Familiarizing yourself with the steps to buy a house before you actually make your move can help you avoid expensive missteps.
When Is Buying a House Better Than Renting?
If you’re caught in a heavy downpour or planning to spend some serious time beneath the strong sun, an umbrella is a handy thing to have. On the other hand, it can be fairly useless, if not downright dangerous, when there are high winds or lightning bolts in the forecast. In a similar fashion, both …
What Is a Fixed-Rate Mortgage?
You know that you want a mortgage with a low interest rate. After all, snagging a lower interest rate will save you money over the life of your loan. However, when it comes to a fixed rate, you’re not as confident of your move. If it’s not broken, does it need to be fixed? What …
How Do VA Loans Work?
If you heard about a home loan that offered 100-percent financing and competitive terms with relaxed standards for qualifying, no requirement for mortgage insurance, and limits on closing costs, would you be interested in learning more? Offered as part of the U.S. Department of Veterans Affairs’ home loan program, VA home loans are known for …
What Is an Adjustable-Rate Mortgage?
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 …