Posts with tag 'Closing'

We're hearing lots of chatter about mortgage rates these days. Will they continue to rise? By how much? Should I buy now to avoid higher rates? 

These are all valid questions, and, unfortunately, there's no crystal ball. However, if you've found a home you like, your mortgage lender might be able to help. 

Most lenders offer mortgage-rate locks for consumers who want to protect themselves against future mortgage rate increases. The conditions of rate locks vary from lender to lender, so here are some questions to help you learn everything you need to know before signing. 

What is a mortgage-rate lock? 

Mortgage rates go up and down, but the process of getting a mortgag...

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Home buyers, especially first-time buyers, often start the process believing myths about how the market works. Sometimes, those myths can take you down the wrong path. What follows are six myths I often hear from prospective buyers that you should let go of right now.

You must have a 20% down payment.

Many of us grew up hearing this, because for a long time, it was a good rule of thumb. However, lenders have long since stopped requiring 20 percent down. For sure, if you've got a sizable down payment ready, it will save you money. Not only will you pay less interest over the life of your mortgage, but 20 percent down can usually keep you from having to buy p...

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