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What is Cash-Out Refinancing and When is it a Good Option?

December 20, 2021 cash out refinance works, cash out refinancing, credit cards, credit score, equity in your home, equity lines of credit, higher interest rate, home equity lines, home equity loans, home loan, loan terms, lump sum, mortgage lender, mortgage loan, mortgage rate, mortgage refinance, personal loan, real estate, refinance calculator, student loans

What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage with a cash-out refinance means you might get to check off all the boxes on your […]

How Much Down Payment to Buy a House?

November 29, 2021 20 down payment, buy a home, buy a house, closing costs, conventional loans, department of veterans affairs, fha loans, home loan, loan amount, loan programs, minimum down payment, monthly mortgage payment, mortgage loan, payment amount, payment loan, payment requirements, private mortgage insurance pmi, put 20, real estate

When you want to buy a home, you may not know all the details involved, including how much of a down payment you need.  When it comes to mastering a task, such as learning to ride a bike or learning about investments, someone may have taught you.  It’s the same with buying a house, so […]

How to Refinance a Mortgage Step by Step

November 5, 2021 adjustable rate mortgage arm, adjustable rate mortgages, break even point, cash out refinance, closing costs, credit cards, credit score, equity in your home, fixed rates, loan amount, monthly payments, monthly savings, mortgage loan, products and services, refinance calculator, refinance options, refinance rates, refinancing your mortgage

You may have noticed that mortgage rates have gone down compared to when you bought your home years ago.  Or maybe you’d like to change your loan term. Maybe you’d like to switch to a 15-year mortgage from a 30-year mortgage. On the other hand, you may have a 15-year mortgage as your existing mortgage […]

How Much of Your Income Should You Spend on Your Mortgage?

October 13, 2021 28/36 rule, afford to spend, buy a home, debt including, debt payments, debt to income ratio, fha loan, financial decisions, front end ratio, interest rate, lenders typically, monthly mortgage payment, mortgage calculation, mortgage lender, mortgage loan, principal interest taxes and insurance, real estate, rule of thumb, student loans

What percentage of income should go to mortgage payments?  It’s a good question, particularly when you’re ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle.  Morty can help you determine what you can comfortably afford to spend […]

What Credit Score is Required to Buy a House?

October 12, 2021 apply for a mortgage, buy a home, buy a house, conventional loan, Credit History, credit reports, credit scores, debt to income ratio, fha loan, good credit score, higher credit score, improve your credit score, insured by the federal housing administration, loan types, mortgage loan, mortgage rates, qualifying for a mortgage, usda loan, va loan

When you’re getting ready to buy a house, your lender will want to see your credit score, a three-digit number that represents how well you pay back debt.  Before you apply for a mortgage, keep in mind that your credit score represents one of the most important aspects of qualifying for a mortgage, but it’s […]

How to Calculate Your Mortgage Payment

October 7, 2021 20 down payment, buying a home, closing costs, credit cards, credit score, debt to income ratio, fixed rate mortgage, home loan, home price, loan amount, loan term, monthly mortgage payment, mortgage calculator, mortgage lender, mortgage loan, number of years, payment calculator, principal and interest, real estate

When shopping for your mortgage or refinancing your mortgage, one of your top-of-mind questions probably sounds a lot like: “What will my monthly mortgage payment be, and how will it fit into my budget?”  Your loan amount, principal, interest, term and more play into your monthly payment amount. You will want to feel comfortable making […]

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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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