What Is an Acceleration Clause, and How Can It Affect Homeowners When Triggered?
If you miss a single mortgage payment, very few lenders will take action (besides maybe a late fee). But if you’re more than a few months behind, they might eventually begin trying to claim the equity...
View ArticleCottage-Style Homes: What You Need To Know
We live in an era when space is at a premium. So these days, many aspiring home buyers have started considering a new option: investing in a smaller home. Due to their relative affordability and...
View ArticleHow and When It Makes Sense To Buy a House With Cash
When you’re ready to buy a home, there are many questions you’ll need to answer. One of them is how you’ll pay for your upcoming purchase. For most aspiring home buyers, there are two popular ways to...
View ArticleBuilder’s Risk Insurance: What It Is & How It Works
Building a home can be a lengthy, expensive and risky process. And if something were to go wrong during the construction process, the developer might be on the hook for quite a bit of money. Anyone...
View ArticleBuying an Old House vs. a New House: The Pros and Cons
Buying your first home is an exciting milestone, but it can be intimidating. There are so many decisions to make. You have to decide where you want to live, how much you want to spend and what type of...
View ArticleCan I Make Principal-Only Payments On My Mortgage?
If you currently have a mortgage, you might find yourself looking for ways to pay down your principal as fast as possible. With many mortgages, paying down the principal balance early can help you...
View ArticleDo the Appliances Come With the House?
Functioning, modern appliances can add a tremendous amount of value to your home. The sum value of all appliances can be worth several thousand dollars. So, getting the appliances included with your...
View ArticleCan You Buy a Foreclosed Home With an FHA Loan?
In the United States, there are many different paths to homeownership. One of the most common ways to buy a home – especially if you can’t make a huge down payment – is with help from the Federal...
View ArticleCan You Use a VA Loan for a Second Home?
A Department of Veterans Affairs (VA) loan is one of the best ways active or veteran military service members can secure a mortgage. With a VA loan, veterans can get the money they need and not have to...
View ArticleWhat Is a Fixed-Rate Mortgage and How Does It Work?
Unless you have the resources to buy a home with cash, applying for a mortgage is the usual way most aspiring buyers purchase homes that would otherwise be out of reach. For most home buyers, taking...
View ArticleWhat Is a Split-Level House?
When you’re home shopping, there’s a lot to consider – and see. If you’re the “dinner, then dessert” type, your priority will likely be to confirm that the homes you’re interested in have good...
View ArticleShould I Lock My Mortgage Rate Today?
If you’re considering applying for a mortgage, there are several factors you’ll need to keep in mind. In addition to your mortgage term, closing costs, and other variables, you’ll also need to be...
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