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Stories

How to Spot an Unreasonable Appraisal
A home appraisal can influence whether a purchase closes, how much a lender will approve, and whether a refinance makes financial sense. The appraiser’s…
How Inflation Shapes Mortgage Rates And Monthly Payments
Inflation affects home financing in two connected ways. It can push borrowing costs higher as lenders and investors demand compensation for reduced purchasing…
How to refinance your mortgage after a rate hike
A rise in mortgage rates can make refinancing seem pointless, especially if your existing loan has a lower interest rate. However, refinancing is not always…
What is a non-qualified mortgage and when would you need one?
A non-qualified mortgage, often called a non-QM loan, is a home loan that does not meet every standard established for a qualified mortgage. Qualified…
How to Qualify for a First-Time Homebuyer Grant in Your State
A first-time homebuyer grant can reduce the cash needed to purchase a home by helping with a down payment, closing costs, or other approved expenses. These…
Prepaid And Escrow Costs At Mortgage Closing
Mortgage closing costs include more than the down payment and lender fees. Buyers may also see charges for property taxes, homeowners insurance, mortgage…
How to Use a 401(k) for a Home Down Payment
A 401(k) can help bridge the gap between your savings and the cash needed to buy a home, but the withdrawal method determines whether you face income taxes, an…
Construction Loans and Their Conversion to Mortgages
Building a home involves a different kind of financing than buying an existing property. A construction loan provides funds in stages as work progresses,…
Getting a Mortgage After a Recent Credit Card Default
A recent credit card default can make home financing more difficult, but it does not automatically end your chances of qualifying for a mortgage. Lenders…
Biweekly Mortgage Payments: Benefits, Costs, and Key Considerations
A biweekly mortgage payment plan divides your regular monthly payment into two smaller payments made every two weeks. Because a year contains 52 weeks, this…