Tag: Mortgage

A loan from the U.S. Department of Veteran Affairs can be an excellent choice for financing a home purchase. While VA benefits are generally reserved for veterans, there are a few exceptions with mortgage programs. Here are some other ways you could be eligible for a VA loan: Active Duty Fortunately, you don't have to have served in...

Active Duty

Eligibility

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Posted on 11/19/2023

What is APR? Mortgage terms to know

When searching for a mortgage, many homeowners might...

APR

Annual Percentage Rate

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Posted on 03/19/2023

Veteran Mortgage Relief Guide: Key Terms & Details

The U.S. government has multiple options available for military veterans who may be facing foreclosure. Through the Department of Veterans Affairs, borrowers can get financial relief through means such as forbearance, deferment, refinancing and more. However, there are some crucial details to be aware of. Here are some of the most important things to know about current veteran...

Mortgage

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Posted on 11/27/2022

Mortgage prepayment penalty: What it is & why you should care

Mortgage lenders make money primarily through interest...

Prepayment Penalty

Prepayment Penalties

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Posted on 11/20/2022

How mortgage works: 3 Important questions answered

Getting a mortgage is a major part of the homebuying...

Home Mortgage

Monthly Mortgage Payments

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Posted on 05/01/2022

Understanding Seller Financing

In real estate transactions, homebuyers have to obtain some kind of financing. Typically, this additional monetary support comes from a third party institution like a bank or mortgage lender. However, sometimes the seller may also offer financing directly. There are many options available depending on the specific need and situation. Here is a basic overview of seller financing...

Financing

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Posted on 01/02/2022

Buying Your a Home for the First Time? Be Sure to Check Off These 4 Items Before Shopping

Excited to shop for your first home? Before you schedule showings and attending open houses, there are a few steps you should take to prepare. 1. Check Your Credit Score If you're like most first-time homebuyers, you'll need to take out a mortgage in order to pay for your home. Before you apply for any kind of home...

Agent

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Posted on 12/05/2021

Construction Loans vs. Traditional Home Mortgages

Image by pasja1000 from Pixabay Most homeowners have a mortgage against their house, and homebuyers who purchase existing homes usually secure a traditional mortgage before closing. When building a new house, however, you’re likely to need a construction loan before getting a home mortgage. Here’s a breakdown of each, including how they’re used in the new home building...

Construction Loan

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Posted on 03/21/2021

What are Prepayment Penalties?

Photo by Steve Buissinne via Pixabay Most are familiar with the key components of a mortgage: how much you're borrowing, what your interest rate is, how many years you'll be paying your mortgage back. There are many, however, who do not understand some of the finer details, including what prepayment penalties are and how they may affect you...

Mortgage

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