The Importance of a Good Credit Score
Household debt is at an all-time high, so it’s no surprise that many inquiries about mortgage loans revolve around the minimum credit score one requires to take advantage of any given program. Yet the importance of having a good credit score while shopping for a house stretches beyond whether you can get approved for the […]
Tips for Securing a Favorable Debt Service Mortgage Rate
Finding a good debt service mortgage rate early on in the homeownership process may have a big impact on your financial situation. Whether you’re an experienced investor or a first-time buyer, knowing how to deal with the intricacies of mortgage rates may save you a lot of money over the course of your loan. These […]
The Anatomy of a Mortgage Payment
If you’re a first-time home buyer, you might be surprised to learn that the price of the home you select isn’t the only factor in that all-important monthly payment amount. Your monthly payment will ultimately be a combination of several types of payments. Here is everything you need to know about how your monthly payment […]
Understanding Mortgage Interest Rates
If you take out a $250,000 home loan, you won’t pay back $250,000 exactly. Instead, you’ll pay $250,000 plus interest. The amount of interest you repay is expressed as a percentage, known as your mortgage rate. Interest is the reason why home loans are available at all; they create a mechanism for lenders to profit […]
