Homebuyers must make two large payments when purchasing a house. One is the earnest money paid upon execution of the sales contract. The second is the down payment to the lender at closing. What are...
Homebuyers must make two large payments when purchasing a house. One is the earnest money paid upon execution of the sales contract. The second is the down payment to the lender at closing. What are...
Shopping for a home also means shopping for a mortgage. If this is all new to you, the multitude of mortgage types might be confusing. Here’s what you need to know. Fixed-rate mortgage. The fixed-rate...
Each month you send off a hefty chunk of money to your mortgage company. If you’re like most people, it represents 25 percent to 30 percent of your income. That payment is split into as...
Buying a first home is a rite of passage. After crunching the numbers, receiving preapproval for a mortgage and finding a trustworthy agent, you’re ready to go house hunting. To make the adventure less daunting,...
Accumulating down payment money for a house is important, but can be challenging, especially for millennials bogged down in massive student loan debt. But don’t despair. Help is available through down payment assistance programs —...
The financial world hangs on the mere hint of a possible interest rate increase by the Federal Reserve. But what about rank-and-file consumers? What does the Federal Reserve do, and how does it affect what...
When applying for a mortgage, one of the first decisions a buyer must make is whether to lock in an interest rate on a mortgage. It’s somewhat of a gamble, but can be less stressful...
If you’re in the market for a home with a hefty price tag — we’re talking a half-million dollars or more — it would be a good idea to study up on what’s known in...
Buyers who put less than 20 percent down on a home might find themselves with a higher-than-expected monthly payment. The extra money, which often takes first-time homebuyers by surprise, is for private mortgage insurance. What...
You’ve sacrificed, scrimped and saved for the down payment on your first home. But have you saved for the whole new world of expenses that comes with home ownership? If not, you could get blindsided...
