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 APR basics to help you understand the answer to … [Read more...] about What is APR (Annual Percentage Rate) And How Does it Impact Homebuying?
Interest Rates
What is APR (Annual Percentage Rate) And How Does it Impact Homebuying?
How to Buy a House With No Money Down in 2022
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 taking a pounding. But is it as good as it sounds or is it too good to be true? In this guide we’ll break … [Read more...] about How to Buy a House With No Money Down in 2022
Buying a House in 2022: A Step-By-Step Guide
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 your habits and lifestyle. When you embark on the journey of … [Read more...] about Buying a House in 2022: A Step-By-Step Guide
When Does a Mortgage Pre-approval Expire?
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 get pre-approved for a home loan, especially … [Read more...] about When Does a Mortgage Pre-approval Expire?
How do the Fed’s Interest Rate Changes Affect Mortgage Rates?
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 it relates to their day-to-day lives. If you’re a person … [Read more...] about How do the Fed’s Interest Rate Changes Affect Mortgage Rates?
