Mortgage - Buying your first home?

Mortgage Advice

• 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 ensures you're getting the home loan your lender promised.

  November 2nd 2016

• 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?

  November 1st 2016

• How much house can you afford?

  How much house can you afford? If that's on your mind, you're in good company. Mortgage rates are near record lows, making it a good time to purchase.

  October 28th 2016

• Will I be happy in a condo?

  Before you dive into condo living, you have to make sure it's truly what you want. Use these 9 questions to make sure you'll be happy in a condo.

  October 27th 2016

• 4 smart moves to challenge a home appraisal

  A low estimate causes about 1 in every 10 home sales to fall through each month, agents report. Here's what to do when an appraisal of your home's value seems to miss the mark.

  October 25th 2016

• Get your paperwork ready before applying for a mortgage

  Here's a checklist of what you'll need and it's extensive — W-2s, pay stubs, bank statements, tax returns, brokerage statements and more. It's never too early to start a file and fill it up.

  October 21st 2016

• What you need to know about private 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.

  October 20th 2016

• 7 mortgage fears that sideline homebuyers

  Would you like to buy a home but worry that you'd never qualify for a mortgage? It's time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

  October 14th 2016

• 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.

  October 13th 2016

• How to buy a condo with confidence

  It's not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

  October 10th 2016