Mortgage Insurance Has varieties Most homebuyers hear the term “mortgage insurance” and assume it refers to one simple fee attached to a home loan. In reality, mortgage insurance comes in several different forms, and understanding the differences can save buyers thousands of dollars over the life...

Have less-than-optimal credit? That doesn't necessarily mean you have to put your dreams of homeownership on pause. There are several factors that mortgage lenders consider when you apply for a loan, and there are even options available specifically for those with poor credit. Read on to learn...

A lien is a property right someone else has on your property and gives the lienholder legal power to take your property as compensation if you default on your payments or break the contract terms. A mortgage is the most common type of property lien. If you don't pay back the home loan, the lender...

If you're applying for a home loan within the next few months and considering taking out a loan or applying for new credit before then, you'll want to get the facts. Quick Overview: Why Your Credit Score Matters in Home Loan Approval Lenders use your credit score as a sort of barometer...

An interest-only mortgage starts with payments that only pay down the mortgage interest. Generally, this makes your monthly payments lower than a typical mortgage payment. Benefits Interest-only loans give you time to increase your income. Are you expecting an income increase in the next few years?...

When it comes down to it, what is the best -- FHA loans or VA loans? This article will help you understand and make an informed decision on which loan is best for you. FHA Loans An FHA loan is a US Federal Housing Administration mortgage insured by the government and provided by an FHA-approved...

Read on to learn what a mortgage deduction is, how much you can reduce from your taxable income, and how you can take advantage of this tax incentive. About Mortgage Interest Deduction The mortgage interest deduction is part of your itemized tax deductions, and it subtracts any interest you've paid...

If you're thinking about buying a home, then you've probably heard the terms Prequalified And Pre-approved: What's the Difference? Both terms refer to the initial steps taken to determine whether you're a strong applicant for a home loan and how much. But there's a difference between...

Ever wonder why it's essential to keep your debt in check when applying for a mortgage or what debt matters to your approval? This article will help you answer these fundamental questions so that you're in a great position to get approved for a home loan. All About Debt-To-Income Ratio...

Let's take a look at everything you need to know about refinancing an investment property. Let's take a look at everything you need to know about refinancing an investment property. Why Refinance Your Investment Property? Owning a second property comes with costs, and some may feel that these...

If you're considering buying a home, you might wonder how much is required as a down payment. Here is a quick run-down of the requirements of the down payment per loan type. Do You Need To Put 20% Down On A House? You'll often hear the down payment expressed as a percentage. For example, a 20%...

Have you been asked to cosign by someone looking to get a home loan approval? You may be wondering why they would ask or how this affects you. This article will help you to understand both of these points. Why Were You Asked To Cosign? These are the top reasons that home loan applicants seek a...