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Which is better: a mortgage payment or a rent payment? Depending on who you ask, some say it’s a waste of money to rent when you could buy. Others insist it’s cheaper to make rent payments than mortgage payments in the long run. While both options have pros and cons, there are three major benefits

Buying a home for the first time can be exciting — but it also means doing your homework. Learn about how to prevent ripoffs when you’re buying your first home

“Should I take a 30-year or 15-year home mortgage?” This is a question many first-time homebuyers ask. The answer to that question is not a simple one, as it depends on each individual’s needs and situation. We’ll go over these two common mortgage types below to provide some clarity and help you make a decision.

Here’s a glossary of mortgage terms and related phrases to help you decipher the process. List of Common Mortgage Terms and Definitions Adjustable-Rate An adjustable-rate mortgage is one of the two most common mortgage types. Its interest rate changes after a predetermined fixed period (such as one year, three years and so on). It’s known

When you apply for a mortgage, lenders will look at many different factors, including your credit score, debt-to-income ratio, loan-to-value ratio (loan amount versus the value/purchase price of the property), and savings history. If you’re applying for a home loan, it’s a good idea to try to raise your credit score in preparation. Here are