Category: First-Time Homebuyer

“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.

Which is better: a mortgage payment or a rent payment? Many will argue that it’s a waste of money to rent when you could be making house payments instead. Others will say it’s cheaper to rent than to make mortgage payments. There are pros and cons to both, but here are three major benefits that

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