mortgage terms

Tenancy in Common: A Guide to Smartly Co-Own a Property

Tenancy in common allows co-owning property with shared rights and responsibilities. Discover its workings, pros, cons, and differences from joint...

8 mins read Feb 11, 2025
Tenancy in common

Mortgage Commitment Letter: How to Get One?

You'll go over a lot of documents related to your home loan and the purchase of your new home. The mortgage commitment letter is one of these necessary...

5 mins read Feb 10, 2025
What is a mortgage commiment letter

Should You Consider Paying Off Your Mortgage Early?

Paying off your mortgage early can result in significant interest savings over the life of the loan. However, there are some pitfalls that you should...

6 mins read Feb 10, 2025
Benefits of paying of mortgage early

APR vs Interest Rate: What Is the Difference?

Discover the differences between APR and interest rate and their impact on borrowing costs. Make informed financial decisions with a clear understanding of these...

3 mins read Feb 10, 2025
Decoding APR vs Interest Rate_ Understanding True Borrowing Costs

How to Get Rid of PMI? Everything You Need to Know

To get rid of PMI, you typically need to reach an 80% loan-to-value (LTV) ratio. Once you reach the ratio, you can request PMI...

7 mins read Feb 10, 2025
How to get rid of pmi

Conditional Approval: What Is It and What Are Its Benefits?

Conditionally approved means that the mortgage approval is almost done but would require additional documents to grant the...

6 mins read Feb 10, 2025
Conditionl approval

What Is a Gift Letter for Mortgage Down Payment?

A gift letter for a mortgage is used by a lender to verify the source of the borrowers initial down payment...

5 mins read Feb 10, 2025
What is a gift letter for mortgage

What Is the Average Mortgage Payment in the U.S. in 2024?

The average mortgage payment is the amount a homeowner pays each month to their lender to repay the loan used to purchase their...

5 mins read Feb 10, 2025
What is average mortgage payment

What Is a No-Closing-Cost Mortgage and Is It Worth It?

No-closing-cost mortgage allows you to avoid paying closing costs upfront. You can either roll them into the mortgage or pay higher...

5 mins read Feb 09, 2025
What is a no closing cost mortgage

What Are Mortgage Points and Are They Worth It?

Interest rates have skyrocketed to 6.32% in Q4 2024! But mortgage points can be your solution. These points are upfront fees to reduce your interest rates. Each mortgage point is equal to 1% of the loan...

3 mins read Feb 07, 2025
What is mortgage points