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Stories

How to Avoid Mortgage Fraud and Predatory Lending
Buying a home or refinancing a mortgage involves large sums of money, complex paperwork, and decisions that can affect your finances for decades. That…
Understanding Appraisal Independence In Mortgage Lending
A home valuation can shape how much a lender is willing to lend, whether mortgage insurance is required, and whether a purchase or refinance reaches closing.…
How to Choose Between a Down Payment Gift and a Family Loan
Saving for a down payment can be one of the hardest parts of buying a home. When family members are willing to help, the money may make homeownership possible…
What Mortgage Insurance Premium Means on an FHA Loan
Mortgage insurance premium, commonly called MIP, is a required cost for most borrowers who use a Federal Housing Administration loan. It allows lenders to…
How to Calculate Your Break-Even Point on a Refinance
Refinancing can lower your interest rate, reduce your monthly payment, change your loan term, or convert an adjustable-rate mortgage into a fixed-rate loan.…
Buying a Home After Bankruptcy: A Practical Mortgage Guide
A past bankruptcy does not permanently prevent you from becoming a homeowner. It does, however, change the mortgage process. Lenders will examine the type of…
How to Use a Family Pledge or Guarantor Loan
A family pledge or guarantor arrangement can help a borrower qualify for a mortgage when a small deposit, limited credit history, or uneven income creates a…
Fixed And Variable Rate Mortgages Explained In Detail
Choosing a mortgage rate affects the size of your monthly payment, the total interest you pay, and how easily you can plan your household budget. The two…
How to Estimate Property Taxes Before You Buy
Property taxes can change the true cost of homeownership by hundreds of dollars per month. A home that fits your mortgage payment target may become…
Reverse Mortgages: How They Work and Who They Fit
A reverse mortgage is a type of home loan designed primarily for homeowners age 62 and older. Instead of making monthly payments to a lender, the borrower…