Feb 15, 2023 | Real Estate, Real Estate Finance
By Erik Gunther Feb 8, 2023 (Realtor.com) Whether you’re buying a fixer-upper or just want to modernize the kitchen of a dated home before you move in, a FHA 203(k) loan insured by the Federal Housing Administration (FHA) could be the solution to...
Jan 31, 2023 | Real Estate, Real Estate Finance
By Daniel Bortz Jan 29, 2023 (KLH49/iStock) What is a foreclosure? When a homeowner doesn’t pay their mortgage for an extended period of time, a lender will take possession of the home—which means the current owner must move out. Foreclosure is a scary...
Jan 20, 2023 | Real Estate, Real Estate Finance
By Lisa Marie Conklin Jan 19, 2023 (Getty Images) If you have a fixed-rate mortgage, your payment is the same amount every month and never changes no matter how much the interest rates fluctuate. While there’s some comfort to that, wouldn’t it be amazing to...
Jan 10, 2023 | Real Estate, Real Estate Finance
By Lisa Marie Conklin Jan 10, 2023 (Getty Images) Many homebuyers today are losing sleep over steeply rising interest rates, which have more or less doubled over the past year and reached their highest level in two decades. Now hovering in the mid-6 % range,...
Jan 6, 2023 | Real Estate, Real Estate Finance
By Daniel Bortz Dec 5, 2022 (Getty Images) An interest-only mortgage is a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. Most interest-only...
Dec 30, 2022 | Real Estate, Real Estate Finance
By Audrey Ference Nov 28, 2022 (pawel.gaul/iStock) The annual percentage rate, or APR, is how much you’ll pay in interest and other fees when borrowing money (e.g., when you get a mortgage loan or a credit card). APR can also be considered the...