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Conventional Mortgage


What Is a Fannie Mae HomePath® Property: Is It Right for You?

The Fannie Mae HomePath® program is a great way to buy a home at a more affordable price than you might find on the open market. Getting a mortgage through HomePath® could save you thousands of dollars on your down payment and closing costs. In this guide, you’ll learn everything you need to know about...

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What Is a 15-Year Fixed Mortgage?

Mortgages come in a variety of proverbial flavors. There are short-term mortgages, long-term mortgages, mortgages with variable rates and mortgages with fixed rates. The varieties are endless – and as anyone who has spent time in an ice cream shop knows – it can be challenging to decide on the flavor you want. If you’re...

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15-Year vs. 30-Year Mortgage: How To Choose

Buying a home comes with a lot of decisions, from the property you choose to the type of mortgage. You also have choices about the length of the loan. While most loan terms are 30 years in length, 15-year mortgages are also available and offer some advantages for homeowners.  To help you make the best...

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Second Mortgage vs. Home Equity Loan

One of the primary reasons people strive to become homeowners is so they can increase their personal wealth over time. Rather than hand over rent to a landlord every month, homeownership helps ensure that at least a portion of your monthly mortgage payment is returned to you as equity. Watching your equity grow over time...

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A Complete Guide to Short-Term Mortgages

When you’re shopping for a mortgage, you’ll quickly discover that the 30-year fixed-rate mortgage is the go-to for most home buyers. But maybe you’re not interested in a long-term commitment with a mortgage.  A short-term mortgage is a home loan with a shorter repayment period than a traditional 30-year mortgage. These loans are typically used...

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What Is a Joint Mortgage? Everything You Need to Know

Are you considering buying a home with someone else? If so, you’re going to want to know about joint mortgages. A joint mortgage is when two or more people borrow money from a lender to purchase a home. This article will explain everything you need to know about joint mortgages. We’ll cover how they work,...

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What Is a Portfolio Loan and How Does It Work?

If you’re a potential home buyer, chances are you’re interested in getting a mortgage. And chances are the mortgage you’ll get is a “conventional” mortgage – one that conforms to the standards set by Freddie Mac and Fannie Mae.  But if you wouldn’t call your financial situation “conventional,” you might be looking for other mortgage...

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What are the Different Types of Renovation Mortgage Loans?

When you can’t afford a home in the neighborhood of your dreams, a fixer-upper can give you the chance to renovate a home anywhere and turn it into the house of your dreams. And because fixer-uppers likely need repairs, they’re usually easier on the wallet. Yes, it all sounds perfect until you realize how much...

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What Is a Graduated Payment Mortgage (GPM)?

Even if it’s not your first time buying a home, it may be hard to meet the income requirements to cover your mortgage payment. Lucky for you, you don’t necessarily have to commit to those big payments right away if you can get a graduated payment mortgage (GPM). A GPM is a loan where payments...

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10-Year Fixed Mortgages over 30-Year: Which Is Better?

Whether you’re looking to take the leap into buying your first home or looking to upsize from your current property, you’ll probably need a mortgage to purchase the home. There are lots of different variables to consider as you apply for a mortgage. Your income, debts, savings and career plans should all factor into the decision....

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A Simple Timeline of the Home Buying Process

Does it ever feel like everyone knows how to buy a house – except you? Well, looks can be deceiving. And, fortunately for you, home buying follows a standard set of steps to help you on your home buying journey. And your good fortune doesn’t end there. We’ll outline the basics of the home buying...

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CEMA Mortgage: What You Should Know

For most homeowners and home buyers, CEMA may look like another acronym floating around in the alphabet soup that is real estate lingo. If you’re not a New Yorker, you may have never heard of CEMA because it’s only available to New York homeowners and home buyers. If you are a New Yorker, whether you’ve...

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