Mortgage Archives | Interest.com

A lien on property that secures the promise to repay a loan. A security agreement between the lender and the buyer in which the property is collateral for the loan. The mortgage gives the lender the right to collect payment on the loan and to foreclose if the loan obligations are not met. Source: HUD

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How Much House Can You Afford?

October 19, 2020

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

Debt-to-income ratio, Down payment, Interest rate

Lending Your Child Money to Buy a Home

June 13, 2019

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.

Credit report, Default, Mortgage

3 free ways to pay your mortgage faster

June 4, 2019 Julia Taylor

Paying extra on your mortgage can shave years off your home loan and save tens of thousands of dollars in interest charges. Here's how to get all of the benefits of paying off your mortgage more quickly without wasting hundreds of dollars a year on an accelerated payment plan.

Checking account, Home equity loan, Interest rate

What You Should Keep In Mind When Buying a Condo

August 27, 2018

If you're in the market for a condo, picking a unit that will be easy to resell down the road is a critical consideration. You need to consider the location, layout and amenities that will appeal to potential buyers when you're ready to move on.

Condominium, Homeowners association, Mortgage