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What is APR (Annual Percentage Rate) And How Does it Impact Homebuying?

January 31, 2022 annual percentage rate apr, apr calculation, apr works, borrow money, card issuers, carry a balance, cash advance apr, cash advances, cost of borrowing, credit cards apr, credit products, credit score, fixed apr, Interest Rates, life of the loan, penalty apr, prime rate, purchase apr, variable apr

You may have heard of the term “annual percentage rate (APR)” but might not understand exactly what it means.  But just like other important mortgage terms like rate lock, it’s important to understand APR from top to bottom because it affects how much you pay for your mortgage over the long term.  We’ll cover some […]

How to Buy a House With No Money Down in 2022

January 3, 2022 buy a house, buying a home, credit scores, department of agriculture, department of veterans affairs, fha loans, home loans, house with no money, income limits, Interest Rates, loan amount, moderate income, mortgage insurance premiums, mortgage lenders, payment mortgages, primary residence, require a down payment, rural area, service members

Not parting with a chunk of change in the form of a down payment to buy a house — sounds like a dream, right? If you get the chance to put no money down for a home, you might feel as if you have the best of both worlds: a dream home without  your wallet […]

Buying a House in 2022: A Step-By-Step Guide

November 20, 2021 buying a home, conventional loan, credit card, credit reporting, credit scores, fha loans, home appraiser, home buyers, home buying process, home inspection, home inspector, home loan, homeowners insurance, Interest Rates, monthly payments, mortgage payments, perfect home, purchase price, real estate agents

We know that buying a home can seem like a daunting and emotional task. After all, you want to make sure every detail fits the bill: the neighborhood, commute and possibly school districts. You may even want to make sure you’re close to your favorite grocery store. In short, everything needs to match up to […]

When Does a Mortgage Pre-approval Expire?

October 31, 2021 apply for a mortgage, bank statements, buy a home, buy a house, check your credit, credit card, credit report, credit score, home buyers, home loan, Interest Rates, loan amounts, mortgage lender, offer on a home, pay stubs, pre approval letter, shop for a home, tax returns, terms and conditions

Can you think of one of the earliest and most important steps involved in getting a mortgage? If you guessed getting a mortgage pre-approval, you’re right. You may think that getting a pre-approval involves mounds of paperwork and a deep inquiry into your financial situation. However, you might be surprised at how quickly you can […]

How do the Fed’s Interest Rate Changes Affect Mortgage Rates?

November 6, 2017 Educational, Fed, Federal Reserve, Financial Planning, Interest Rates

Dollar Bill - How the Fed's Interest Rate Changes Affect You - The Morty Blog

At the end of September, the Fed chose to raise the target Federal Funds Rate. Another rate increase is expected before the end of the year. And chances are good that we can expect additional rate increases in 2019. That’s important news, though not many people understand exactly what a rate increase means or how […]

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Morty is a licensed mortgage broker. NMLS ID # 1429243. NMLS Consumer Access. All loans originated by Morty are funded by third party lenders. Morty, Inc. is authorized to do business as “Morty” in certain states. Morty is an equal housing lender.

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