Remember staring up at the board in your high school foreign language class trying to make sense of it all? Well, sometimes understanding your mortgage can feel a little like that. But don’t sweat just yet! With enough info, a little research, and some handy crib notes, these common mortgage terms will be right on the tip of your tongue.
An historic dip in mortgage rates may help give home buyers a leg up in a competitive real estate market. According to a recent article in Forbes, fears over the coronavirus outbreak and its economic impact have sparked the most dramatic stock market since the 2008.
Many new homebuyers jump into the home buying process without first checking their credit scores, which can lead to sticker shock or disappointment when trying to qualify for a mortgage.
Buying a new home requires many decisions, both big and small. One (hopefully) small item with a big impact is mortgage interest rates—what you’ll be paying to borrow money for a home loan.
A mortgage, a loan provided by a mortgage lender or a bank is an important tool for buying a house, allowing you to become a homeowner without necessarily making a large down payment.
