Everything You Need To Know About Credit Reports
A consumer’s credit report is a synthesis of the consumer’s credit accounts, payment histories, accounts referred to collections, inquiries into a consumer’s credit file and public financial records, like bankruptcies.
Which Home Lender Institution is Best for You?
Here are some key concepts to keep in mind when deciding where to get your mortgage.
What Is A Home Appraisal?
Mortgage lenders will require your property to be appraised before approving your loan. An appraisal is a report that sets forth an opinion or estimate of the fair market value of the property. The report is used by lenders to determine how much they are willing to lend against the property.
Understanding Closing Costs
Closing costs are the customary expenses one can expect when completing a residential lending transaction.
Decoding Mortgage Jargon
There are four main types of mortgage loans. Here's what you need to know before deciding which is best for you.
Read This Before Getting Preapproved for a Mortgage
Here's what you need to know about getting pre-approved for a mortgage before kicking off the home buying process.
How to Save for the Down Payment on Your First Home
Here are some ways homeownership may be in reach for millennials, while keeping the avocado toast on the table.
Who Are Fannie Mae & Freddie Mac?
When researching home financing it is likely that you will encounter information about Fannie Mae and/or Freddie Mac. Here's what their role is in the housing market and what it means to you, a prospective homebuyer or a current homeowner.
Your Down Payment Explained
A down payment is the personal cash contribution that a borrower makes in a purchase transaction. While programs exist for down payments as low as 3% for one-unit primary residences, the best loan terms available for primary residences come with down payments of at least 20%.
How Lenders Consider Additional Properties
If you own additional properties to the one you are buying or refinancing, there's some important implications for how your lender will qualify your loan.