The most common home loan, by far, is the 30-year fixed-rate mortgage. It spreads out the principal and interest in an amortized pattern over three decades, allowing for manageable payments. It’s a good solid loan structure beloved by lenders and borrower
Long-term mortgage interest rates have more than doubled in the past year and hit 14-year highs as of September 2022. If you bought a home in recent years with an adjustable-rate mortgage (ARM), it probably made a lot of sense at the time and helped you s
Assume you're a senior thinking about taking out a reverse mortgage loan to access the equity in your home. In that case, you're likely to have a lot of questions, especially if this is your first time considering this option. It stands to reason, given t
A reverse mortgage is an excellent way to use the equity in your home to supplement your income, set up a "rainy day fund," or achieve a variety of other financial goals. These products are designed for seniors who have paid off the majority of their mort
The Federal Reserve’s September interest rate hike marks the fifth straight increase in 2022. What does that mean for the mortgage world? Fed Rate Hikes The Federal Reserve is in charge of maintaining a healthy level of inflation and employment in the U.S
In today’s competitive housing market, it is smart to look at all the possible avenues for becoming a homeowner. Especially if you are a first-time buyer or have less-than-perfect credit, it can be difficult to break into the market. One option you could