Mortgage - Buying your first home?
Home Financing, Mortgage advice and information.
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8 critical questions your Loan Estimate will answer
Borrowers are receiving a new form called a Loan Estimate after they apply for a mortgage. It explains the key terms, from interest rates to closing costs, and insures you're getting the home loan your lender promised.
October 2nd 2015
How to tell if mortgage points are worth the cost
Paying points to get a lower interest rate is almost always a losing proposition because most homeowners don’t keep their loans long enough to recoup the up-front costs. Are you an exception to the rule?
October 1st 2015
How much house can you afford?
It's a seller's market again. But you don't want to wind up house poor, saddled with mortgage payments that gobble up too much of your paycheck. Here's how to find the price range that's right for you.
September 28th 2015
4 smart moves to challenge a home appraisal
A low home appraisal causes a home sale to fall through about 9% of the time. Be smart about challenging an appraisal you think misses the mark.
September 25th 2015
The 7 biggest mortgage mistakes to avoid
Dodging these pitfalls will make you a happier home buyer now and more satisfied home owner down the road. You'll know that you got the best possible mortgage and won't be overwhelmed by unexpected costs.
September 23rd 2015
7 smart moves for buying a foreclosure
Deals on foreclosures are still out there. But they're not as easy to find as they were a few years ago and you still need to avoid all of the costly pitfalls that can turn any repossessed home into a burden, not a bargain.
September 22nd 2015
Get your paperwork ready before applying for a mortgage
Here's a checklist of what you'll need and it's extensive — W2s, pay stubs, bank statements, tax returns, brokerage statements and more. It's never too early to start a file and fill it up.
September 21st 2015
What you need to know about mortgage insurance
if you don't make a 20% down payment you'll be required to carry private mortgage insurance, or PMI, Although you're the one who must pay monthly premiums for this coverage, it protects the lender, not you.
September 20th 2015
4 smart moves for buying a short sale
Although the number of short sales has fallen, they remain plentiful in some states, and you can still find some serious bargains — the major reason any buyer messes with the arduous short-sale process.
September 15th 2015
Should you lend your kids money to buy a home?
Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.
September 13th 2015