4 Other Ways to Save Without Refinancing
Mortgage interest rates are at historic lows and homeowners can take advantage of great savings by refinancing into those lower rates. But what if you’ve already…
Mortgage payments and costs
Separate the components of a mortgage bill, compare interest costs, and understand what extra payments change over the life of a loan.
Start with your question
- What is inside the monthly bill?What Fees Are Included in My Monthly Mortgage Payment?
- Can my PMI end?How Do I Get Rid of Private Mortgage Insurance?
- What would extra principal change?5 Strategies for Paying Your Mortgage Off Early
5 Strategies for Paying Your Mortgage Off Early
Whether you want to save on interest payments, avoid debt in retirement or just feel the thrill of complete ownership, there are plenty of reasons to pay off your…
5 Ways to Save Money on Your Mortgage
Mortgage interest rates have been near rock-bottom lows for many years but are likely to increase over the next few years. Even though you can no longer count on…
6 Facts about Private Mortgage Insurance
Understand who conventional PMI protects, how its cost affects the payment, and why cancellation differs from FHA mortgage insurance.
Benefits to Mortgage Debt
In order to buy a house, most Americans take on a mortgage loan. While debt is usually to be avoided if possible, when it comes to a mortgage there may actually be…
Everything You Need To Know About Prepayment Penalties
Although they are not nearly as common today, some mortgage loans do come with a prepayment penalty. Home loan borrowers should be aware of them before signing their…
How Do I Get Rid of Private Mortgage Insurance?
Distinguish a PMI cancellation request from automatic termination. Check original-value milestones, loan scope, and the servicer evidence required.
How Long Should You Keep Your Mortgage Papers?
The time of year is often a time for decluttering and organizing the home for a fresh start. As you sort through your file cabinet and see how much room all your…
How to Cancel FHA Mortgage Insurance
Mortgage loans made by the Federal Housing Administration can be a huge help to homebuyers without a large down payment. FHA loans require down payments of as little…
PMI or a Larger Down Payment: Four Considerations
Compare the monthly cost of conventional PMI with the cash needed for a larger down payment. Include reserves and the applicable cancellation conditions.
Should I Make a Biweekly Mortgage Payment?
Many homeowners are eager to pay off or pay down their mortgages in order to save themselves money in interest charges. Many lenders have even anticipated this…
Should I Pay Mortgage Points?
If you are buying a home or refinancing, you have probably heard about “mortgage points.” This form of pre-paid interest can save you thousands of dollars over the…
Should I Pay Mortgage Taxes and Insurance on My Own?
When you buy a home or refinance, your lender will talk about setting up an “escrow” account. They may also refer to the charges in that account at “impounds.” If you…
Should I Pay Off My Mortgage Before Retirement?
As you near retirement, you may be anxious to completely pay off your mortgage and be debt-free before your traditional income stops. In most cases, this is the best…
Should I Pay Off My Mortgage with My 401(k)?
The COVID-19 crisis has left millions of Americans unemployed and uncertain of how to make their mortgage payments and other debt obligations. In response to the need…
Should I Prepay My Mortgage?
The main benefit of paying off your mortgage early is the savings. Even by cutting off just a few years from your home loan, you can save thousands of dollars in…
Understanding Mortgage-related Insurance
When you buy a home with a mortgage, you will be required to pay all sorts of insurance, including homeowner’s insurance, title insurance and private mortgage…
What Are Closing Costs?
Separate mortgage fees, prepaid items, and cash to close. Learn which Loan Estimate figures to compare and calculate five-year borrowing cost for two offers.
What Are Mortgage Points?
If you have ever checked out the current status of mortgage interest rates, you may have seen the average points listed next to the rates. What are these points and…
What Fees Are Included in My Monthly Mortgage Payment?
You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you…
Why a Mortgage is Good Debt
In today’s coronavirus-crisis economy, many Americans may be regretting taking on debt in the past or facing new debt to cover expenses during unemployment. And yet…
Why does Buying a Home require so much Insurance?
When you are ready to buy a home, you will hear about a lot of different types of insurance: homeowners’ insurance, private mortgage insurance, title insurance, etc.…
Why NOT to Pay Off Your Mortgage Early
Your mortgage payment is likely the biggest one you make each month. The thought of getting rid of that payment sooner and saving on some of the interest payments can…
Will My Mortgage Payment Increase Over Time?
If you are about to become a first-time homeowner, you may be wondering if your monthly mortgage payment will stay the same or if it will ever go up. The answer…