Know Your Interest Rates: A Crash Course
There are several different types of interest rates when it comes to mortgages. The two most common types are fixed and adjustable. They mean exactly what they are defined as. A fixed interest rate is locked in for the life of the loan. However, if...
Major Decision: Is a VA Loan Right for You?
Did you know that since 2001, there have been over 2.77* million United States troops deployed to Afghanistan and Iraq? The U.S. government created a military VA loan program in 1944 to aid returning troops to purchase a home. The result was the VA loan....
USDA: What does it stand for and how can it help you to become a homeowner?
USDA loans were started in the 1990’s by the U.S. Department of Agriculture. The loan program is gear towards rural development and making homeownership a reality for low and moderate income families living in rural areas. “Providing affordable homeownership opportunities promotes prosperity, which in turn...
The Sooner You Know Where Your Mortgage Interest Rate Comes From, the Better
As you probably know from fooling around with a mortgage calculator, the interest rate on your mortgage loan is critically important. If the interest rate on a 30-year, $290,000 mortgage loan decreased from four percent to three percent, it would result in a savings of...