When planning to build a custom home, buyers have their choice of two types of construction loans. The traditional type involves two closings, one for the construction phase and one for the permanent mortgage. The...
When planning to build a custom home, buyers have their choice of two types of construction loans. The traditional type involves two closings, one for the construction phase and one for the permanent mortgage. The...
When buying a home and applying for a mortgage, a good credit score is critical. A home can be purchased with less than stellar credit, but often at interest rates and terms that aren’t to...
Ever wonder how long you should keep important documents such as old tax returns, mortgage documents, and home appliance receipts? Here’s a list of what to keep and when it’s safe to shred. Tax records....
When buying your first house, the terms and conditions of the mortgage process can be confusing. Here’s a primer on two such terms: points and the origination fee. Origination fee. This is the cost that...
The Baby Boom generation is carrying more mortgage debt into retirement than any generation before it, bucking conventional wisdom that you shouldn’t enter retirement until you’re debt-free. Who’s right? What’s the best path for you?...
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...
Mortgage lending is yet another industry that has undergone massive change by the internet. Online lenders advertise fast and easy transactions while traditional lenders offer more personal service. Regardless of which option you choose, it’s...
Despite the mortgage-lending reforms that followed the 2008 economic crash, it’s your job as a consumer to be on guard against questionable lenders — especially if you have damaged credit and shaky finances. Here’s how...
The financial crisis of 2008 started with shoddy mortgage-lending practices. Congress answered this problem with the 2010 Dodd-Frank Act, which was designed, among other things, to tighten mortgage lending standards and disclosures, keeping consumers better...
If you haven’t bought a home in recent years, the paperwork you’ll be confronted with will look a little different this time around. That’s because of new regulations put in place following the 2008 financial...
