For many years, 20% has been the benchmark, and many first-time home buyers believe they should make a very large down payment to buy a home. Buyers still believe it’s a hard and fast rule to get out of Private…
One of the most significant financial decisions most individuals make is purchasing a home, and the mortgage application process heavily relies on your credit score. In the US, credit ratings are used by lenders to assess customers’ historical debt management…
Being a first-time home buyer can be stressful enough without having to listen to the jargon of “pre-qualification” and “pre-approval” from lenders or real estate agents. The two sound alike, but they have different roles in the home-buying process. Knowing…
When you begin the home-buying process, you’ll come across numerous terms such as down payment and monthly mortgage payments. These are definitely critical, but many first-time home buyers will be shocked at the extra costs they are going to need…
One of the decisions you can make when you buy a house is whether to get an adjustable-rate mortgage or a fixed-rate mortgage. This decision really affects how secure you are financially in the long term or how much money…
As you begin to consider purchasing a home, you may think of the cost. The key question is, however, whether the monthly payment and total housing expenses are affordable. What one person can afford as a $300,000 home may be…
Buying your first home is exciting, emotional, and, well, overwhelming. Between scrolling through listings, figuring out monthly payments and trying to understand mortgages, it can feel like you’re learning a new language altogether. One of the biggest questions first-time buyers…
Buying a home is a long-term financial commitment, and the mortgage interest rate affects how expensive that commitment becomes over time. Even after closing on a home, many homeowners continue tracking mortgage rates because lower rates may create opportunities to…