Getting the Best Mortgage Rate

For many of us, buying a home is the pinnacle of adulting. There’s just something about owning property that makes most of us feel accomplished – and with good reason! It takes time, effort and preparation to finally get those keys in our hands.  And speaking of preparation, one essential step to owning a home...

If you’re shopping for a home loan, you’re probably familiar with the concept of mortgage rates. You probably also know that even a small change to that number can change the amount you pay in interest over the life of a loan by tens of thousands of dollars.  But you may not have heard of...

When comparing different mortgages, one of the most important variables you will need to consider is the interest rate. Over a 30-year mortgage, a single percentage point change in your interest rate could cost or save you thousands of dollars. Many people assume that whatever interest rate their lender offers them is an interest rate...

Once you start considering buying a home, the obvious next step is researching and creating a plan. And you quickly find one phrase that seems to proliferate in your search results like a financial-jargon bacteria: interest rate.  Interest rates are one of the most important aspects of the mortgage process. They can have a huge...

If you’re in the process of taking out a mortgage or just want to know everything there is to know about the home buying process, you’ll want to get familiar with basis points.  Basis points can impact your mortgage rate, which will impact how much interest you pay over the life of your loan.  We’ll...

For most home buyers, the lower their monthly mortgage payments, the more house they can afford. But your monthly mortgage payments won’t only be based on the cost of your home loan. The loan’s mortgage interest rate will play a direct role in the size of your monthly payment.  To get the lowest monthly payment...

Have you ever wondered whether you should buy mortgage points? If this is your first time buying a home, we wouldn’t be surprised if you were asking yourself what a mortgage point is.   Mortgage points (aka mortgage discount points) are one of several tools buyers can use to decrease the total cost of owning a...

Prospective home buyers may assume that finding a mortgage lender is all about getting the lowest interest rate. While mortgage interest rates vary by lender and should be a major consideration, there are many other factors, too.  Learning how to choose a mortgage lender requires understanding how lenders make decisions regarding mortgage applications.  In this...

Thinking about buying a home and getting a mortgage to pay for it? Then you need a crash course in debt-to-income (DTI) ratio. Lenders use your DTI to determine if you’ll be able to afford your monthly mortgage payments. That’s why knowing this powerful percentage can help you get a mortgage. What Is Your Debt-to-Income...

Mortgage rates are often very volatile, and changes in mortgage rates can have a major effect on the home buying process. For example, it would be a major bummer if interest rates set by the Federal Reserve shot up during closing, making payments for your dream home suddenly less affordable. Luckily, you can lock in...