With a cash-out refinance, you can pull cash from your home’s equity – imagine it like a bank account that you can use to pay off other debtors, renovate your home, or purchase something you’ve always dreamed of (boat, 2nd [...]
FHA mortgages just got a price cut. Beginning March 20th, 2023, mortgage insurance premiums will be lower on most FHA loans, making payments more affordable and qualifying easier. Learn how the FHA mortgage insurance reduction makes financing more affordable! What [...]
What kind of loans are available for veterans? Veterans Administration loans, commonly called VA Loans, are typically the most popular type of home loan for veterans. There are many benefits to this type of loan, and it is available to [...]
If you have student debt, then homebuying is not off the table for you! The Maryland SmartBuy 3.0 Program helps homebuyers with student debt finance a home. The program works to assist homebuyers to pay off their student debt while [...]
What type of loan is best for first-time buyers? Finding the best home loan may seem overwhelming to many first-time home buyers. Fortunately, there are a variety of options available to first-time home buyers that make homeownership more accessible. Typically, the [...]
What is a mortgage buydown? A mortgage rate buydown, or ‘buydown’ for short, is when a borrower pays more money upfront to secure a more manageable, lower interest rate for the first few year(s) of their mortgage. Furthermore, a borrower [...]
If you are thinking about purchasing a home, the first step in the process is getting pre-approved. Pre-approval will help you understand how much house you can afford and will differentiate you from other home buyers when it comes time [...]
What is a Fixed-Rate Mortgage? A fixed-rate mortgage simply means the home loan has a set rate for the entire term of the loan. The most common fixed-rate mortgages are 15-year and 30-year loans, and while both of their interest [...]
Interest rates can drastically affect the cost of your mortgage. Buying down your mortgage rate is an effective way to save money on your monthly payments and reduce the amount of interest you pay over the life of the loan. [...]
What a mortgage loan is? In order to understand government-backed loans, it’s important to understand a mortgage loan. A mortgage loan is a secured type of loan for buying a house. Therefore, a financial institution lends money to a borrower [...]
