Tag: Mortgage

How Does a Balloon Mortgage Work?
Posted on 11/25/2019
How Does a Balloon Mortgage Work?
Image by Jojje from Shutterstock Many people own homes through a mortgage agreement. Traditional mortgages are primarily fully amortized or gradually paid off with regular payments over the lifetime of the loan. Each payment contributes to both the principal and the interest. A balloon mortgage is a short-term home loan with fixed-rate monthly payments that only take care...
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Commonly Asked Questions About FHA Home Loans
Posted on 11/20/2019
Commonly Asked Questions About FHA Home Loans
If you’ve been considering taking the next step toward homeownership, you’ve likely heard about FHA loans. Offered by the Federal Housing Administration (hence, “FHA”), these loans are great for a number of people hoping to purchase a home but who don’t have a large down payment saved. There are many misconceptions about FHA loans since they’re often advertised by...
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FHA, VA and USDA Loans and How They Differ from Conventional Mortgages
Posted on 10/09/2019
FHA, VA and USDA Loans and How They Differ from Conventional Mortgages
Photo by Alexander Stein via Pixabay When it comes to a mortgage, most of us think of the same standard product; the 15 or 30 year conventional mortgage offered by banks and lenders. This is not the only mortgage option you have, though. Depending on your personal history and circumstances you may qualify for an attractive mortgage with...
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Understanding Your Mortgage: Prepayment Penalties
Posted on 09/16/2019
Understanding Your Mortgage: Prepayment Penalties
Photo by Steve Buissinne via Pixabay Most are familiar with the key components of a mortgage: how much you're borrowing, what your interest rate is, how many years you'll be paying your mortgage back. There are many, however, who do not understand some of the finer details, including what prepayment penalties are and how they may affect you...
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Are you Eligible for a VA Home Loan?
Posted on 07/15/2019
Are you Eligible for a VA Home Loan?
Do you dream of buying a home? If your answer is yes, then VA home loan can make it a reality. A VA home loan differs from the traditional mortgage home loan. It is essential to know if you are eligible to apply for a VA home loan and how it can help you purchase your own home....
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