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Stories

How to Avoid Private Mortgage Insurance With a Piggyback Loan
Private mortgage insurance can add a significant monthly cost when your down payment is less than 20% of a home’s purchase price. Although PMI protects the…
What mortgage forbearance means for struggling homeowners
Mortgage forbearance is a temporary arrangement that allows a homeowner to pause or reduce mortgage payments because of financial hardship. It can provide…
How to prepare for a mortgage closing day
Mortgage closing day is the point when your home purchase becomes official. You sign the loan documents, transfer the required funds, and receive ownership of…
How a Job Change Can Affect Your Mortgage Approval
Changing jobs while buying a home can create uncertainty at the exact moment your lender is reviewing income, employment history, and financial stability. A…
How to Shop for a Mortgage Without Hurting Your Credit Score
Shopping for a home loan should help you find a competitive interest rate, reasonable closing costs, and a payment that fits your budget. It should not force…
What Is a Balloon Mortgage and Is It Risky?
A balloon mortgage is a home loan with monthly payments that do not fully repay the balance by the end of the loan term. After making scheduled payments for a…
How a co-signer or co-borrower can help with a mortgage
Buying a home can be difficult when your income, credit history, or debt-to-income ratio does not meet a lender’s standards on its own. Adding another person…
Understanding loan-to-value ratio and why it matters
Loan-to-value ratio, commonly called LTV, is one of the central measurements used in mortgage lending. It compares the amount you want to borrow with the value…
Should you buy a home before or after a major life change?
Buying a home is a significant financial decision at any point, but timing becomes especially important when marriage, divorce, a new baby, relocation, career…
How to Negotiate Seller Concessions on Closing Costs
Buying a home involves more than the down payment and monthly mortgage payment. Loan origination charges, appraisal fees, title services, prepaid taxes,…