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17 Questions Every First-Time Homebuyer Should Ask a Mortgage Lender
Feel confident. Get clear answers. Make smart decisions. Buying your first home is exciting… and a lot to take in. With so many moving parts, it’s easy to feel unsure about what to ask a lender — or what the answers even mean. This guide gives you the exact questions...
What is a mortgage?
A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...
How raising the prime rate makes mortgage rates go down
I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...