Adjustable Rate Mortgages (ARMs) are attractive to many homebuyers for one reason: lower payments in the first years of the loan. Typically, an ARM will have a low introductory rate, sometimes called a "teaser" rate.

While there seem to be hundreds of different mortgages available, they all fall into a few basic categories. Some may fit your needs well, while other programs may be unwise or unattainable. It’s important to realize that the best product de  more...

Your personal situation will determine the best kind of loan for you.  more...

Unless you can afford to pay cash (in which case you’ll be a very popular buyer!), you’re going to have to finance your home purchase. Navigating the loan process is easier if you understand some basic terminology.   more...

Thirty-year fixed rate loans are what most people think of when they hear the word "mortgage." Fixed rate loans are also referred to as "fully-amortized" loans. One of the aspects that buyers like about fixed rate loans is that the payments stay the same for the life of the load.  more...

Being prepared with the necessary documentation will expedite the mortgage loan process. Here’s a checklist, so you don’t forget what you’ll need to efficiently move the loan process along.  more...

Once you have selected the type of loan you prefer and qualify for, the lender will ask you to complete a loan application, which will require a great deal of personal and financial information, including the following  more...

An accurate and complete application is a perfect start in the mortgage process and will help set the tone for a smooth, efficient and hassle-free experience. Please be prepared with the following information at the time of your mortgage application  more...

When your loan is submitted for underwriting, it goes directly into the hands of an underwriter whose job is to determine your "creditworthiness" or your ability to repay the loan. An underwriter takes into consideration the following aspects when deciding whether or not to approve your loan.  more...

There are four main sources from which you can obtain a home loan  more...

Your monthly mortgage payment is made up of several components. This housing expense is commonly referred to as "PITI" or principal, interest, taxes and insurance. PMI (see below) and homeowner’s association dues may also make up a portion of your total payment.  more...

In addition to the right to view your credit report and know your FICO score, you also are protected by RESPA, the Real Estate Settlement Procedures Act passed by Congress. RESPA requires your lender to provide you with a "Good Faith Estimate of S  more...