Mortgage Points Vs. Lender Credits: What are They?
When you’re looking to secure a mortgage or refinance an existing home loan, two phrases you’re likely to come across are mortgage points and lender credits—both present interesting ways to…
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What Happens After My Mortgage is Paid Off?
For many homeowners, that magical day when you finally make your last mortgage payment is something everyone dreams of. It’s a true milestone that brings a sense of pride and…
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My Mortgage was Declined, What Can I Do Next?
The home buying process can have a lot of ups and downs. One minute you’re ecstatic about getting an accepted offer; the next, you face complications with the deal. One…
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Worried About Rising Mortgage Rates?
The Federal Reserve recently began raising interest rates to clamp down on inflation. The average 30-year fixed-rate mortgage is now above 5%, the highest it’s been since 2011 and representing…
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UltraFICO – A New Credit Score Method
If you’re currently in the market for a new home, odds are you know what a credit score is. This vital number plays a crucial part in the mortgage application…
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Getting a Mortgage for a Condo or Co-op in New York City
Many people dream of homeownership, especially in New York City. However, unless you have piles of money, you will need a home loan to achieve it. It can seem like…
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A Guide to Private Mortgage Insurance (PMI) and How to Get Rid of It
While a 20% down payment on a New York City home purchase is recommended, it is not always required. You can secure a loan with a down payment of less…
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Fixed Rate vs. Adjustable Rate Mortgage Loans
Whether you’re looking to buy a new home or remodel an existing one, you will need a loan. Homebuyers had only three mortgage loan types to consider in earlier times.…
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Refinancing Your Mortgage, Benefits and Downsides
If you’re a homeowner with a mortgage, you may have heard of the advantages of refinancing. The benefits are far-ranging and include the chance to reduce your interest rate, lower…
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Should You Pay for Mortgage Discount Points?
Mortgage points are upfront interest a buyer pays at closing. One point equals 1% of the original loan balance. For example, if you choose to pay two points on an…
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