Buying a home is a major life decision for anyone. Learn more about the home buying process through our guides and tips to make sure you find the right home for you, choose the best mortgage and financing, and avoid surprises throughout the process.
While finding the right loan for your home purchase can feel overwhelming, a conventional mortgage offers most buyers the clearest path to homeownership. By combining flexibility with competitive rates, a conventional loan is often the most appealing choice for those ready to buy. In this guide, we’ll help you unravel the ins and outs of…
Lenders will nearly always review your credit when you apply for a mortgage. That’s because they want to know what kind of a risk they’re taking in lending to you. A better credit score can lead to lower mortgage rates and better loan offers, which may lower your monthly payment and save you thousands of…
If the home-buying process is a marathon, then closing is the marathon’s final mile — but with hurdles between you and the finish. The good news? The finish line is indeed within sight. And armed with a bit of knowledge, you’ll easily leap those final hurdles on the way to being a homeowner. How long…
With home prices and interest rates remaining high, more home buyers are looking for ways to lower their monthly mortgage payments. That’s where adjustable-rate mortgages (ARMs) come in. A 5/1 ARM and a 5/6 ARM both start with a fixed interest rate for the first five years, followed by periodic adjustments. But what happens after…
Buying a home is an exciting journey, and the right preparation can help you avoid surprises — like realizing a home is out of reach after you’ve fallen in love with it. That’s where mortgage preapproval comes in. For buyers who aren’t familiar with the importance of preapproval, this part of buying a home might…
For many aspiring homeowners, especially those eager to become first-time buyers, the dream of owning a home can feel just out of reach. Until a generous gift changes everything, that is. Whether a family member wants to help you build your future or you’re considering asking for support, gift money for a down payment can…
If you’ve felt stressed while buying a home, you’re not alone. A 2023 Redfin survey found that most people find home buying to be more stressful than other common high-anxiety experiences like dating, potty training a toddler, and even getting into college. It’s easy to understand why buying a home ranks so high on the…
Thinking about tapping into your home equity to fund renovations, invest in a business, or pay off debt? Many homeowners are exploring these options as home values rise. This trend has led to a significant increase in home equity financing. According to TransUnion, HELOC originations surged 41% and home equity loans rose 29% in the…
Buying a home in a high-interest-rate environment requires careful planning and strategic decision-making. Despite these challenges, there are effective strategies to navigate this market and achieve your homeownership goals. Whether you’re considering adjustable-rate mortgages, shorter-term fixed-rate loans, or exploring other financial options, understanding how to manage in this environment can make all the difference. Anyone…
For some prospective homebuyers, rising interest rates might make it feel like the dream of homeownership is slipping away. The good news is that even in a high-rate environment, you have multiple strategies to help you lower your interest rate or the total cost of your loan. One such strategy is the mortgage buydown. Mortgage…
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