Down Payment Money: Where Should You Save It
Where Should You Save Your Down Payment Money? Saving for an initial deposit or down payment money on a house takes time. And while building your credit, you have many options to keep your down payment money safe—some methods can even be profitable over time. You may be excited to ...
Mortgage Refinancing Cost: How Much is it in Total?
Some homeowners refinance their mortgages when lenders' interest rates reach record lows; you might wonder if it’s worth it. Although refinancing would reduce expenses for the homeowner, the process also includes one-time fees (mortgage refinancing cost) known as closing costs. These costs are paid out of pocket at closing or ...
What’s the Lowest Mortgage Amount You Can Get?
What's the Lowest Mortgage Loan Amount You Can Get? Finding a small mortgage home loan can be a daunting task. Many lending institutions disclose the maximum available mortgage amount but not their minimum credits, so it may take some research to find the right loan. While comparing financing companies, you ...
Top 5 Factors Mortgage Lenders Consider
The housing market has depreciated since the housing crisis, and lending institutions are scrutinizing mortgage applications. Lenders consider various credentials and factors before deciding whether to grant a loan to a potential candidate. Read more to learn these five factors that mortgage lenders consider. Factors that mortgage lenders consider 1. ...
Fixed Interest Rate (FIR): All You Need To Know About It
What Is a Fixed Interest Rate (FIR)? A fixed interest rate (FIR) is a constant rate charged on liabilities, such as mortgages or home loans. It can be applied to the entire loan term or for part of the term, but it remains unchanged for a specific period. A mortgage ...
What is Veterans Affairs or VA loan?
What is a Veterans Affairs loan (VA Loan)? A Veterans Affairs loan (VA Loan) is a type of home mortgage available through the program established by the United States Division of Veterans Affairs (VA) (formerly the Veterans Administration). The VA loans assist veterans, military personnel, and their surviving spouses in ...
