What Are Discount Points? If you’ve ever applied for a mortgage, you’ve probably heard the term “discount points”, but you may not be familiar with what they are. Discount points are basically extra fees paid at closing in exchange for a lower interest rate over the life of the mortgage. [...] read more
The outstanding principal balance of a mortgage is simply the total amount of money it would take to pay off the loan in full. How much this amount is depends on how much was originally borrowed, how much has been paid down, and what the annual interest rate is. Loan [...] read more
One of the Most Important Qualifying Factors When Purchasing a Home Your income is one of your most important qualifications when it comes to getting a mortgage to buy a home.Lenders usually like to get their money back, so they want to make sure you have adequate income to keep [...] read more
Buying a house means spending a lot of money Many people are not able to bear this cost on their own, that why they need mortgages. But getting a mortgage is not as easy or stress-free as it sounds. There are stringent rules to follow and some important questions to [...] read more
Paying off your mortgage faster doesn’t have to be a financially painful experience. It’s possible to shave years and tens of thousands of dollars in interest off your mortgage without having to break the budget. In this article, I’d like to show you a few budget-friendly strategies and the big [...] read more
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