An adjustable-rate mortgage (ARM) is a mortgage whose interest rate changes over time. It’s different from a fixed-interest mortgage, where the rate stays constant for all 15-30 years of the loan term. Learn what to expect from an ARM and how to decide if it’s right for you.
Getting a mortgage can feel overwhelming. You have seemingly endless loan options, all of which read like a foreign language. If you’ve never taken out a mortgage before, or if you need a refresher, start with this overview of the types of mortgages to help you understand your loan options.
Homebuyers face closing costs that add up to thousands of dollars. However, you can ask the seller to cover the closing costs, freeing up your cash and giving you some financial breathing room. Learn how to get a seller to pay closing costs when buying a home, and when to ask for such a concession.
The decision to buy a house is one of the most consequential financial decisions you’ll ever make. The high cost of real estate only raises the stakes. It pays to find the best mortgage rates and loan terms and lowest overall monthly payment. Start your search with the best mortgage lenders around.
Buying a house requires a substantial down payment, but the balance of existing debts also affects your budget and the cost of borrowing. So how do you choose between paying off your debts and savings for a down payment? Consider these factors when deciding how to prioritize your savings.