Thirty-year fixed rate mortgages are the most popular type of mortgage in the United States, and it’s easy to see why. With an interest rate set at a fixed rate, you don’t have to worry about sudden changes in your monthly payments or the risk that rates will rise so high that you can no … Read more
There are many types of mortgages, but the adjustable rate mortgage (ARM) can be one of the most complexes to understand. An ARM includes an interest rate and payment schedule that are both subject to change during the life of the loan, which can make it tricky to budget and manage if you’re not prepared … Read more
Conventional mortgages have always been the most popular form of a home loan, as they typically come with the lowest interest rates and the least stringent underwriting requirements. However, since the start of the recession in 2008, FHA loans have grown in popularity due to their low down payments and flexible lending standards. So what … Read more
If you’re looking to buy a home in the near future, chances are you’ve heard the term FHA mortgage floating around. But what exactly does it mean? FHA loans are mortgages provided by lenders, but that is backed by the Federal Housing Administration and insured by the U.S. government. This means that even if you … Read more
There are many misconceptions about what exactly VA mortgages are and how they differ from conventional loans. You may be one of the many people who think that you can’t get a mortgage with VA or FHA loans because you own your home already, but that couldn’t be further from the truth! What exactly are … Read more
The VA home loan aims to support the US government’s retiring and active service members to buy homes without paying a down payment or other mortgage-associated costs. The VA loans are rated as loans with the lowest fixed interest rates in the market for the last five years. Qualifying for a VA loan requires you … Read more