- Places Where It Pays Off to Commute in 2019
Deciding where the best place is for you to live involves balancing a number of factors, including the ease of your commute. Not only does getting to and from work take up a lot of time, but it can also heavily affect your budget. Proximity to the city center, where many people work, is often… read more…
- Where Rich Millennials Are Moving in 2019
A number of factors can influence your decision to move to a new place, including where your peers are headed. While some older generations like rich retirees and rich Gen Xers are moving to Florida, wealthy millennials are still seeking out sunny locales, but in other states. Moving and taking out a mortgage in a… read more…
- The Best 55+ Active Retirement Communities
Finding an active retirement communities for adults age 55 years can be difficult, but once you find the right one, it can be a good place to spend your latter years. The best active retirement communities offer world-class amenities like luxury golf courses and indoor pools, along with plenty of opportunities to socialize with your… read more…
- How Mortgage Insurance Premiums (MIPs) Work
Mortgage insurance premiums (MIPs) pay for insurance to protect mortgage lenders against the risk that borrowers won’t pay them back. MIPs add to a borrower’s costs, but they allow you buy a house with a lower down payment than the… read more…
- The Best Cities for Living the American Dream in 2019
Living the American Dream can mean different things to different people when it comes to their material situation. For some, it might mean a white picket fence. For others, it might mean a gilded penthouse high above a big city. Generally, though, most people agree that the American Dream is about living a full and… read more…
- What Is Mortgage Fraud?
Mortgage fraud occurs when a potential homebuyer or mortgage lender provides false information or omits certain details in order to complete a mortgage transaction. As a homebuyer, you may encounter predatory lenders who want to scam you. And if you’re… read more…
- A Guide to Commercial Real Estate Loans
A commercial real estate loan, also known as a business mortgage, is a loan for property used for commercial purposes. The collateral for the mortgage can partially be the building itself, whether that’s an office, retail space, apartment building, warehouse or other development.… read more…
- What Is a Quitclaim Deed and How Does It Work?
A quitclaim deed sometimes referred to as a non-warranty deed is a document used to transfer interest in a property. Common terms utilized alongside quitclaim deeds are “grantor” and “grantee.” In this context, the grantor is the one transferring the ownership… read more…
- How Mortgage Points Work and When to Pay Them
Mortgage points are fees that you pay your mortgage lender upfront in order to reduce the interest rate on your loan and, in turn, your monthly payments. A single mortgage point equals 1% of your mortgage amount. So if you… read more…
- What Is a Short Sale?
A short sale occurs when you sell your home for less than what you still owe on your mortgage. It can prevent you from seeing your home foreclosed and undergoing bankruptcy. However, your mortgage lender must approve the short sale.… read more…
- Everything You Need to Know about the Secondary Mortgage Market
When you finance a home with a mortgage loan, you and your lender do business on the primary mortgage market. But there is a secondary market by which the lender recoups the entirety of the funds it lent you by going through outside investors. These investors drive interest rates and underwriting standards to an even… read more…
- What Is the VA Funding Fee for 2024?
A VA loan could be a great financing option for a veteran looking to become a homeowner. These loans often give active and former service members the opportunity to buy homes without making a down payment or paying for mortgage… read more…
- What Is a Jumbo Loan?
A jumbo loan is a type of mortgage designed to finance high-value homes that require loans above the standard conforming loan limits. These limits are regulated by the Federal Housing Finance Agency (FHFA). They vary by location, but for most of the U.S., the 2025 limit currently stands at $806,500 for one-unit homes. Jumbo loans are not… read more…
- How Do Bond Loans Work?
Low- and middle-income families who want to buy homes may be able to get a bond loan. State and local authorities issue bond loans to subsidize the cost of becoming a homeowner for those who meet certain income requirements, either… read more…
- What Is Private Mortgage Insurance (PMI)?
Scrounging up the money for a standard 20% down payment on a home can be a challenge for some. If you fall short of this prespecified amount, you will likely encounter private mortgage insurance, or PMI. PMI is there to… read more…
- Choosing a Mortgage Term: 15-Year vs. 30-Year
Choosing a mortgage is an integral part of the home buying process. Opting for a 15-year mortgage term instead of the traditional 30-year term seems like a smart move, right? Not necessarily. Going with a shorter mortgage term does have… read more…
- How to Refinance a Mortgage
When you refinance a mortgage, you take out a new loan to pay off the old one. This time, you aim for a lower interest rate and better terms. However, refinancing a mortgage can be a risky process. It’s important… read more…
- Your Mortgage Preapproval Checklist
To get preapproved for a mortgage, you’ll need a few documents detailing your income, assets and debt obligations. This helps banks and other mortgagees determine exactly how much they’re willing to lend you. Getting mortgage preapproval also helps you understand… read more…
- What Is a Subprime Mortgage, and Who Should Get One?
A subprime mortgage is a type of home loan issued to borrowers with low credit scores (often below 640 or 600, depending on the lender). Because the borrower is a higher credit risk, a subprime mortgage comes with a higher… read more…
- Where Singles Have the Highest Homeownership Rate – 2019 Edition
Saving for a home can take years, which sometimes makes the idea of switching from renting to buying a daunting one even if you have some help. But if you’re on your own, buying a home can be even more challenging. Not only do you need to have enough money to make a down payment… read more…
- How to Buy a Foreclosed Home
Buying a foreclosed home is one-way potential homeowners can save a bit of money. This is because a foreclosed home is likely to be selling for cheaper than other homes on the market, so you may be able to get… read more…
- What You Should Know About Fannie Mae Loans
When you’re buying a home, there are multiple ways that you can go about paying for it. You can secure a mortgage by finding a bank or credit union in your area that offers home loans. There are also plenty… read more…
- What Is a Home Equity Line of Credit (HELOC)?
In a perfect world, you wouldn’t have to borrow any money because you’d always have enough. In reality, there are times when you don’t have the cash for your child’s tuition bill, your own student loan payments or other bills. To get… read more…
- What Is a Mortgage and How Does It Work?
Buying a home can be both an amazing and stressful process at the same time. But tackling the huge expense of a home in one fell swoop is often difficult for an individual or family to handle. That’s where mortgages… read more…
- How to Choose a Mortgage Broker
A mortgage broker is a third party who helps potential homebuyers get the best possible rate when securing a loan to buy a home. Instead of going to each lender for a rate quote yourself, a mortgage broker does the… read more…