Mortgage Lingo 101
As a first-time home buyer, you will hear lots of words that you may not be familiar with. Just like every industry, the real estate market has its own lingo, and it…
Mortgage articles — page 11
Browse mortgage explanations by topic, or use the complete alphabetical article list.
New FICO “Resilience” Credit Score Could Help Borrowers
As the U.S. economy reels from record-high unemployment and continued COVID-19 shutdowns, the Fair Isaac Corp. (FICO), a global analytics company and producer of the…
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.
Questions to Ask Your Mortgage Lender
Buying a home or refinancing usually involves taking out the biggest loan of your life. It's important to make sure you understand everything that goes into that…
Should I Buy, Build, or Renovate as a First-Time Home Buyer?
Today’s housing market faces the lowest level of inventory in over 20 years, according to the National Association of Realtors. That supply is even tighter among the…
Should I Get a Conventional or FHA Loan?
Work through FHA and conventional loan questions about down payment, credit, mortgage insurance, and the costs in comparable written offers.
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…