Mortgage Article Library

Learn what a mortgage is, how payments and amortization work, which loan types fit common situations, and how to shop smarter before you apply

Learn how home equity works and compare loans, HELOCs, and cash-out refinancing. Then decide when tapping equity supports your goals.

Getting a mortgage is an important step when you need to buy a home, as few people can afford to pay for a house entirely in cash.

When purchasing a home, a mortgage is almost always an inevitability. To ensure the best outcome, it’s important to plan ahead and make a decision that meets your financial and personal needs.

So, you’re in the market for a house? You’ve probably been reading up on all there is to know about taking out a mortgage. The basics are pretty straightforward: once you put in a down payment, a mortgage loan covers the remaining cost of a home, which you’ll need to pay back over x number of years.

FHA mortgage loans are an attractive option for first-time homebuyers. If you’re looking for your first home and don’t have 20% of the home purchase price for a conventional loan down payment, FHA loans backed by the U.S. government can offer between 3.5% and 10% down payments.

Own a home and in need of a loan? One of the most convenient ways to secure the large amount of cash you need to fund that renovation, medical bill, or college tuition is to take out a second mortgage on your home.

The time has finally come. You’ve worked hard, you’ve saved up some money and you’re finally ready to put down some roots. It’s time for you to realize your dreams of becoming a homeowner.

To first-time home buyers, the mortgage application process may seem like a whole new world, with different terms and rules to learn, and so many decisions to make. Home buyers not selling a home tend to have smaller down payments, and less-established credit histories. On the other hand, they may qualify for government programs to help them get into a home.

In 2026, home equity loans (HEL) remain a popular way to access cash at lower rates than credit cards (avg. 8% vs 21%). Borrowers can typically access up to 85% of their home's value. Interest is tax-deductible only when used for home improvements.

Refinancing your home loan can save you a lot of money in the long run. However, there are some things to be aware of. In this article, I'm going to unpack what you need to know about refinancing your home so you can get started right away.

As mortgage lenders are raising the bar on their requirements for borrowers, getting a mortgage becomes harder and harder. Now is the time for homebuyers and those looking to refinance to be smarter about shopping for a new loan.

If you want to buy a new home, but have a low credit rating or don’t have a lot of cash, you may consider applying for a Federal Government-backed loan. FHA Loan helps borrowers to secure mortgages from authorized lenders for as low as a 3.5% down payment.

​Your mortgage has been approved, you’ve made your down payment and paid all closing costs, and you’re ready to move into your new home. But your biggest cost is still ahead of you: your monthly mortgage payments. So, what exactly are these payments, and what can you do to make sure they cost you as little as possible?

You might be considering refinancing your mortgage. Before agreeing to a new deal at the lowest rate, it is worth calculating whether you can save more with a no-closing-cost refinance.

If you are an armed forces veteran and are planning to apply for a mortgage on a new home or refinance an existing loan, you might be eligible to secure favorable terms from your lender.

Buying a house is an exciting time, but it isn’t a stress-free process. Part of the process is getting approved for a mortgage to help pay for the home. My wife and I recently went through this experience when we were moving from Florida to Indiana.

The more you understand about your home and the mortgage you pay, the easier it will be to sort through your finances and have realistic expectations for your current situation.

Bad credit may seem like it stands between you and a new home purchase. Fortunately, there are ways to get a mortgage even with bad credit.

Applying for a mortgage involves a lot of confusing numbers, but it's actually the words around those numbers that you should be focused on. Learning and understanding common mortgage terms can make the application process a lot easier.

Unless you're one of the lucky few that can purchase a home for cash, you're likely to need some kind of a loan to realize your dream of home ownership. Broadly, a mortgage refers to the specific type of loan that’s used for home purchase. There are many types of mortgage terms you’ll want to know for a variety of circumstances, though many people are looking for conventional home loans.

If you judge the housing market solely by recent headlines, you might conclude the "American Dream" of homeownership has flatlined.

You've served your country, earned your Certificate of Eligibility (COE), and are finally ready to buy a home. But when you sit down with your real estate agent, you hear a disheartening warning: Sellers in this market prefer conventional loans or cash. A VA offer might get pushed to the bottom of the pile.

Refinancing typically costs 3% to 6% of your loan, often $9,000 or more on an average mortgage, and most of that goes to fees you can actually shop around for or negotiate down. Whether it's worth it comes down to how long you'll stay in the home versus your break-even point.

Student loans don't disqualify you from getting a mortgage, but how your lender calculates your qualifying payment can vary significantly by loan program. Comparing programs like Fannie Mae, FHA, and VA loans, and getting pre-approved early, can make the difference between approval and denial.

A low mortgage rate can feel like a thing of the past, unless you can take over one that already exists. That’s the appeal of an assumable mortgage. Instead of applying for a brand new loan at today’s rates, a buyer may be able to step into the seller’s existing mortgage, including its lower interest rate and remaining loan terms.

Zero-down home loans let you finance 100% of a home's purchase price, but closing costs, higher interest, and cash reserve requirements still apply. Choose the right loan type for your situation and make sure you can cover the costs that come after closing.

Home equity loans work best for one‑time, fixed costs and stable payments, while HELOCs fit phased or uncertain expenses but add payment and rate risk if you overspend or rates rise.

Your income tells only part of the story. Use this home affordability calculator to combine your salary, monthly debts, and down payment savings to estimate how much home you can realistically afford.

Understanding mortgage points can be the difference between paying thousands more or less in interest over your loan's lifetime.

From 20% down payments to government loan programs, multiple strategies can eliminate PMI.

Understanding balloon mortgage options helps you evaluate unique financing structures with lower initial payments.

Understanding fixed vs adjustable rate mortgage options helps you choose the right financing for your home purchase.

When buying a home with less than 20% down, you'll likely encounter mortgage insurance—a cost that protects your lender but adds to your monthly payment.

Buying your first home is an exciting milestone but can also feel overwhelming. Buyers must navigate mortgage options, find the right property, manage closing logistics, and coordinate moving in.

Your debt-to-income ratio plays an important role in determining whether you qualify for a mortgage and what terms you'll receive.

Having bad credit doesn't mean you can't buy a home.

Understanding mortgage refinancing helps you secure the right funding for your future financial goals.

Buying your first home is one of life's biggest financial decisions—and it's surprisingly easy to make costly mistakes.

Serving your country takes sacrifice, so the government rightfully established several benefit programs to recognize your dedication.

Choosing the right mortgage lender is one of the most important financial decisions you'll make as a homebuyer.

Buying your first house is a major life milestone and financial transaction.

Even a 1% rate difference can translate into tens of thousands of dollars over the life of a loan. For example, on a $400,000 30-year mortgage, moving from 6.5% to 7.5% can mean roughly $95K–$100K in additional interest, depending on fees and exact loan terms.

Navigating the home-buying process can feel overwhelming, especially for first-time home buyers.

Getting a mortgage can feel overwhelming, especially if you're buying your first home.

A second mortgage can be a powerful financial tool when you need to access your home's equity for major expenses.

Also known as “prefab” or prefabricated homes, manufactured homes are built in factories. Unlike traditional homes, which are constructed on-site with a permanent foundation, manufactured homes are put together on a temporary chassis and then transported to the site where they are installed.

Knowing what to look for when buying a house means matching the right property type, size, and budget to your actual life — not following a one-size-fits-all checklis

Investment property loans cost more and require stronger credit, bigger down payments, and solid reserves, but they can build long‑term wealth if you buy conservatively and stress‑test cash flow.

In 2026, mortgage rates remain one of the most important factors in the cost of buying or refinancing a home. Even a 0.5% difference in rate can mean paying or saving tens of thousands of dollars over the life of your loan. That’s why understanding how to get a lower mortgage rate is key to smart home financing.

Buying your first home can feel overwhelming. Finding the perfect home, putting together a down payment, and getting approved for a mortgage - it’s a lot of work and the financial burden adds up quickly. The good news is that first time buyers have special programs designed just for them. We’ll explain everything you need to know about how to qualify for them.