What the Names Zillow, Redfin, and Trulia Mean

Nowadays, just about everyone looking to buy or sell real estate begins their search online. And a small handful of websites seem to be dominating the home buying space, including oddly-named real estate tech companies. I use these websites all the time when researching real estate, but never actually knew the details behind their names.… Read More »What the Names Zillow, Redfin, and Trulia Mean

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Source: thetruthaboutmortgage.com

Fixed-Rate Mortgages vs. ARMs: Which to Choose?

Mongoose vs. Cobra. Coyote vs. Roadrunner. Pirate vs. Ninja?  And finally, “fixed-rate mortgage vs. adjustable-rate mortgage.”  Yes, we’re talking about the greatest rivalries of all time. So what’s better, the boring old fixed-rate mortgage or the more provocative and often controversial adjustable-rate mortgage (ARM)? Fixed-Rate Mortgage vs. Adjustable-Rate Mortgage During the housing boom in the… Read More »Fixed-Rate Mortgages vs. ARMs: Which to Choose?

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Source: thetruthaboutmortgage.com

Why Are Mortgage Payments Mostly Interest?

Mortgage Q&A: “Why are mortgage payments mostly interest?” Here’s an interesting mortgage question – pun sadly intended because I couldn’t help it. Lots of folks are obsessed with how much interest is paid on a mortgage, often citing the total interest paid over 30 years. This counters the argument that mortgages are the cheapest debt… Read More »Why Are Mortgage Payments Mostly Interest?

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Source: thetruthaboutmortgage.com

Why Are Mortgages Cheaper Than Rent?

Mortgage Q&A: “Why are mortgages cheaper than rent?” Today we’ll discuss why mortgages often appear to be less expensive than a monthly rent payment, despite allowing you to build precious home equity. For example, you might be shopping mortgage rates and see a sample loan amount of $240,000, along with a hypothetical interest rate. Let’s… Read More »Why Are Mortgages Cheaper Than Rent?

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Source: thetruthaboutmortgage.com

Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate

Conventional wisdom would lead us to believe that consumers go with the mortgage lender that offers the lowest interest rate. After all, who can resist a discount? But this appears to not be the case… In fact, it’s the least common reason why a borrower selects a particular home loan lender, which is pretty shocking… Read More »Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate

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Source: thetruthaboutmortgage.com

What Is Lender-Paid Mortgage Insurance? First Of All, You Still Pay For It

Mortgage Q&A: “What is lender-paid mortgage insurance?” Several years back, a rule went into effect that made mortgage insurance permanent on most FHA loans for the entire life of the loan. Ouch! Before this game-changer, FHA loans were the cat’s meow because of the low mortgage rates offered, coupled with mortgage insurance premiums that were… Read More »What Is Lender-Paid Mortgage Insurance? First Of All, You Still Pay For It

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Source: thetruthaboutmortgage.com

Renting vs. Buying a Home: 55 Pros and Cons

It’s time for yet another mortgage match-up, so without further ado, here’s a biggie: “Renting vs. buying a home.” Or a townhouse for that matter… This is certainly an intimidating question, and one that’s difficult to sum up in one post, but I’ll do my best to cover as many pros and cons for each… Read More »Renting vs. Buying a Home: 55 Pros and Cons

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Source: thetruthaboutmortgage.com

How to Lower Your Mortgage Rate Without Refinancing

Here’s an interesting one. Is it possible to snag a lower mortgage rate without refinancing? While it’s not all that difficult to refinance a home loan, it does take a bit of time and energy, and you generally need to qualify for the thing. Not everyone qualifies for a mortgage for one reason or another,… Read More »How to Lower Your Mortgage Rate Without Refinancing

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Source: thetruthaboutmortgage.com

21 Mortgage Questions You Should Know the Answer To

I thought it would be helpful to create a post that answers a lot of top “mortgage questions” that prospective and existing homeowners tend to ask in one convenient place. You should know the answers to all of these questions if you’re serious about getting a mortgage and ready to buy a home. Additionally, you… Read More »21 Mortgage Questions You Should Know the Answer To

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Source: thetruthaboutmortgage.com

Dude, Where’s My Low Mortgage Rate?

A Common Mortgage Rate Tale You’ve been shopping mortgage rates and finally found a lender you like. The loan officer asks if you want to lock in your rate and you say huh? They explain that you can lock in your interest rate today so it won’t change, or you can float and take your… Read More »Dude, Where’s My Low Mortgage Rate?

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