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This article explores the topic of mortgage payments, specifically concerning when they are due and the potential consequences of missing a mortgage payment. Is a mortgage due on the first? Mortgage payments are usually due on the first of the…
When getting a home loan, one of the crucial questions most people have is – do I have mortgage insurance? This is an important question because this can determine how much you will be put aside each month for mortgage…
From day to day or sometimes even from hour to hour, interest rates are constantly fluctuating depending on the current market trends and federal funds rate. That’s why a lot of people are wondering – how long can you lock…
Due to the fast-paced lifestyle, many new homeowners are looking for a swift and easy yet secure way of paying their monthly mortgage installments. This made many of those who had recently bought their homes wonder how to pay down…
Although there are many different ways of meeting your mortgage monthly installments, paying them online is the easiest option for most borrowers. However, since a VA loan is available through the U.S. Department of Veterans Affairs, many people wonder how…
Nowadays, we’re used to doing everything from the comfort of our homes. When it comes to finances, it can be a bit confusing. If you’re a Guaranteed Rate client, you probably want to know how to pay a Guaranteed Rate…
When looking for professional help to get the best loan program, you might find yourself interested in hiring a mortgage broker. But do you need to pay mortgage brokers, and can someone else pay for their services? If you are…
When you’re looking to buy a house, there are many things you need to consider. After all, buying real estate isn’t as easy as it might seem. Answer all the questions, such as: ”do sellers not like FHA loans” to…
The VA loan is a popular mortgage option for eligible military members, veterans, and their surviving spouses. This government-backed loan offers competitive interest rates and requires little to no down payment. One key component of the VA loan process is the appraisal. An…
Paying off your mortgage early can be an enticing goal. As you make extra payments each month and see your loan balance creep lower and lower, the promise of debt freedom and outright home ownership can seem very appealing. Can you pay money off your mortgage? Yes,…
Buying a new home is an exciting yet stressful process. Once you’ve found the perfect house and your mortgage has been approved, you still need to pay the closing costs to finalize the purchase. These fees typically range from 2-5% of the home’s price…
For many homebuyers, obtaining an FHA loan is an attractive option due to their low down payment requirements and flexibility. However, FHA loans come with strict guidelines, including the requirement of an appraisal to determine the property’s value. While appraisals give the lender confidence…
A mortgage appraisal is an assessment of the current market value of a property. It is conducted by a licensed real estate appraiser on behalf of the mortgage lender when a buyer is seeking a mortgage loan to purchase a home. The appraiser will physically inspect the interior…
Mortgage brokers are licensed professionals who help people get mortgages. They work with banks and other lenders to find the best deals for their clients. They can save you a lot, but how much is a mortgage broker paid? And…
Getting mortgage insurance is an extensive process. Even if you own a property, you’ll still have to pay for hazard insurance. For new homeowners, we’ll answer the “Is hazard insurance mortgage insurance?” question right here. Hazard insurance is a part…
Although it seems pretty straightforward to apply for a mortgage at the surface level, the mortgage application process can be tricky and tedious. If you have gotten this far, then you probably have one question on your mind: how to…
One of the best-known insurance policies new homeowners have to pay is mortgage insurance premium (MIP). So, how is mortgage insurance premium paid, and what does it represent? Mortgage insurance premium is paid at closing and annually for as long…
During a close on a mortgage loan, you may hear the words ‘closing costs’ and ‘mortgage points.’ Since both are payments provided after the closing, you may wonder – are mortgage points closing costs? These two could be confused, but…
The question of homeownership is not always straightforward. That is why many people under the mortgage agreement wonder whether they have a deed if they have a mortgage. Let’s break it down. Do you have a deed if you have…
Escrow accounts are already a norm in real estate transactions, protecting both the buyer and the seller in every home buying process. But does escrow pay property tax for the homeowner after buying a home? Escrow pays the property tax…
Escrow accounts are commonly used in real estate transactions to ensure maximum protection for both the buyers and the sellers throughout the process. But does escrow pay home insurance once the deal is closed? Yes, an escrow pays for your…
Completing the last payment of your mortgage is always a cause to celebrate. It officially declares that property yours after years of hard work and keeping up with payments. So how to discharge a mortgage? Here are steps on how…
When you are buying a home, one of the biggest upfront costs you will encounter are closing costs. Closing costs refer to the various fees charged by lenders, attorneys, and other third parties to process, underwrite, and close the mortgage loan and real estate transaction. These costs…
