During the homebuying process, mortgage lenders may use the term "escrow" from time to time. Lenders can use the word "escrow" in several different contexts. However, they typically refer to escrow as … [Read more...]

PITI is an acronym for the four components of a mortgage payment: Principal, Interest, Taxes, and Insurance. When evaluating a homebuyer's maximum mortgage loan eligibility, lenders consider these … [Read more...]

Defining Adjustable-Rate Mortgages (ARMs) An adjustable-rate mortgage (ARM) refers to any mortgage loan where the interest rate changes over the loan's lifetime. This type of mortgage loan is also … [Read more...]

When purchasing a home, many homeowners end up with Private Mortgage Insurance (PMI) added to their mortgage. While this is frustrating and adds to monthly costs, it is usually unavoidable under the … [Read more...]

Many mortgage myths are floating around, partly because mortgages can be complex and confusing. There are many different types of mortgages available to different borrowers around the U.S., depending … [Read more...]

If you plan to buy a home in the upcoming months, there are some things you should avoid that could negatively impact your FICO score. This is important because a lower FICO score could result in … [Read more...]

Most people choose to get a mortgage when buying a home. Over time, though, the interest expense with the mortgage causes homeowners to consider paying their home loan off early to save money. So … [Read more...]

An FHA 203(k) home loan is backed by the U.S. Federal Housing Administration and allows a borrower to take out a loan for two purposes; home improvements and home purchases, if the home will be the … [Read more...]

Finding the right mortgage product can be difficult, especially if you’re a first-time buyer. In fact, it’s easy to become disillusioned with the idea of buying a property, or thinking you’ll never be … [Read more...]

According to a CNBC report published on January 7th, 2019, buydown mortgages may begin to increase as mortgage interest rates in the U.S. go up. Although it’s been an uncommon buying strategy over the … [Read more...]