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If you're looking to finance a home, it's essential to understand which loan type best meets your individual needs. For most homebuyers, the conventional loan is by far the most popular mortgage option. Unlike other mortgage types, such as FHA, USDA, or VA loans,...

As you start searching for the perfect home, you'll likely hear that you need to be prequalified or preapproved for a mortgage before you can purchase a property. Prequalification and preapproval are types of mortgage approvals and refer to the steps a lender takes to...

Since purchasing a home is such a significant financial commitment, certain precautions are put in place to protect buyers and give them more peace of mind. One of these precautions is a warranty deed, an important legal document often used in real estate transactions...

Is owning a second home one of your financial goals? Whether you're dreaming of your very own getaway in your favorite destination or looking for a way to earn some extra income, there are several reasons you may want a second home. If the decision to purchase a...

In addition to your down payment, there are other costs that you will incur as you purchase a home. Your closing costs, for example, are expenses you should be prepared for before you buy a house. Closing costs are paid during your real estate closing, the final step...

Buying a home, especially for the first time, can feel like a complicated process. If you are new to residential lending and looking to secure a loan for an upcoming home purchase, you may encounter some mortgage jargon that is unfamiliar to you. Though it may seem...

Homeownership is a significant milestone, and there are several steps homebuyers must take before they're handed the keys to their dream home. Of course, the exact timeline of the home buying process can vary and depends on your unique financial situation and how long...

When financing your home, one of the most important things you'll need to consider is the length of your mortgage term. Your mortgage term is the number of years you'll have to pay off your mortgage, with most terms lasting somewhere between 15 and 30 years.  The...

One of the most crucial steps of the home-buying process is to evaluate just how much of a monthly mortgage payment you can afford.  First-time homebuyers may be surprised to learn that their monthly mortgage payment might not just cover paying back their mortgage...

Purchasing your first home is a momentous achievement and has long been considered a staple of the American dream. There are several benefits to owning your own home: saving money on monthly rent, building your credit, and tax benefits are just a few. However, while...

If you are looking to buy a home, you will likely need to apply for a mortgage first. While many financing options are available for homebuyers, nearly all lenders require borrowers to meet specific criteria before agreeing to loan the money needed to purchase a home....

Your credit score, also called your FICO score, indicates how likely you are to repay your debt. Most mortgage companies will look at this score to determine your interest rates and to see what product types are available to you. But don’t fret –– even if your credit...