Mortgages

Starting in 2020, the VA loan limit has been eliminated for most qualifying veterans. Read on for exceptions and to find out if you qualify.

Trina Thomas

Looking for the best reverse mortgage companies? Our top picks include FAR, AAG and Liberty Reverse, based on verified customer review data.

Kathryn Parkman

Eminent domain is the power of a city, state or federal government to take ownership of your property for public use. Read about how it works.

Emily Moore

Ginnie Mae is a government-owned company that makes it easier for lenders to give affordable home loans to underserved communities.

Jennifer Schurman

Mortgage underwriting is the process of reviewing a potential homebuyer’s finances. Read our guide to understand the process and timeline.

Jennifer Schurman

Warranty deeds and quitclaim deeds are both deeds used to transfer ownership of property, but a warranty deed comes with certain legal guarantees.

Jennifer Schurman

If you want to lower your monthly mortgage payment and save money on interest, a mortgage recast, or reamortization, may be right for you.

Jennifer Schurman

A bridge loan is a short-term loan that’s often used for real estate. Read more if you’re interested in this type of gap financing.

Sandy Baker

If you know anything about mortgages, you’ve probably heard a lot of talk about building equity. Read more about what this means and its importance.

Jennifer Schurman

In the market to purchase a home? Find out how much house you can afford using our mortgage calculator and comprehensive guide to mortgage payments.

Kathryn Parkman

A mortgage loan modification is a change to the original terms of your home loan. Read about how it works, how to get one and more.

Jennifer Schurman

An FHA streamline loan is a simplified way to refinance. Learn more about the guidelines, pros and cons and more to see if it's right for you.

Jennifer Schurman

“Clear to close” means you have the lender’s approval to schedule a closing date. Learn more about how to get cleared to close and what happens after.

Jennifer Schurman

A mortgage loan originator is the entity that distributes your initial home loan funds. Learn more about an MLO’s function and fees.

Jennifer Schurman

Looking for the best mortgage lender? Our top picks include New American Funding, Cardinal Financial, AmeriSave and Rocket. Compare rates and reviews.

Kathryn Parkman

A defeasance clause states that a borrower becomes the owner of the property once they’ve finished paying off a mortgage. What does it mean for you?

Jennifer Schurman

More than 1,100 Americans reflect on the various aspects of owning a home vs. renting. Read more to see what people think about the value of both.

ConsumerAffairs Research Team

Seller concessions in a mortgage are incentives the seller uses to entice the buyer, like paying a portion of closing costs. Learn how they work.

Jennifer Schurman

Paying biweekly on your mortgage early on can shorten the repayment term on your home loan. Learn how this works and the pros and cons.

Jennifer Schurman

An assumable mortgage is one you can take over from the original borrower, keeping the rates and terms. Learn how it works, types and considerations.

Jennifer Schurman

Mortgage-backed securities are investment bonds backed by home loans. Learn more about how they work, the types and considerations.

Jennifer Schurman

A guaranteed loan is a mortgage option for borrowers with poor or no credit history. Learn how they work, the types and considerations.

Taylor Sansano

A down payment is a cash payment you make upfront on a home in order to secure it and reduce your principal. Learn how it works and the pros and cons.

Jennifer Schurman

An HFA loan is designed for buyers with low to moderate incomes. Learn about how it works, the eligibility requirements and considerations.

Jennifer Schurman

Cash out-refinance and home equity loans have some similarities, but there are several key differences, including how they work and requirements.

Bradley Schnitzer

Wondering if you should put in an offer over the list price? It may be necessary in a seller’s market, where the supply of available houses is low.

Jennifer Schurman

Wondering if refinancing affects your credit? It can reduce your score temporarily, but you should be OK as long as you pay on time.

Jennifer Schurman

The number of parties involved is one of the main differences between a mortgage and a deed of trust. Find out the other key differences.

Bradley Schnitzer

Being a first-time homebuyer can provide you with a multitude of benefits, from loans and grants to down payment assistance programs and more.

Jennifer Schurman

Facts and statistics on the fastest-growing cities in the United States by population number growth and population percent growth.

Jon Bortin

Do you feel like you spend too much on homeownership? You’re not alone. Check out homeowner perspectives on housing expenses and affordability.

ConsumerAffairs Research Team

Wondering how long underwriting takes? It can take from a few days to a couple of months — check out our timeline to understand what you can expect.

Jennifer Schurman

A no-doc mortgage is a home loan that doesn’t require traditional income verification from the lender. Learn how it works and the pros and cons.

Jennifer Schurman

Closing costs on a refi typically range from 2% to 6% of the purchase price. Use our guide to calculate your costs and learn about the fees.

Jennifer Schurman

Eligibility requirements are the main distinction between FHA loans and USDA loans. Find out more about the key differences between these loan types.

Bradley Schnitzer

Wondering what the best time of year to buy a house is? Use our guide to learn more about the process and seasonal considerations.

Josh Richner

From finding a lender and getting preapproved to designing the home of your dreams, learn how to buy a new-construction home in five simple steps.

Jennifer Schurman

Refinancing your mortgage is a way to lower your payments or cash in on the home equity you’ve built up. Here’s how to refinance in eight steps.

Kathryn Parkman

Getting preapproved for a mortgage is a first step toward homeownership and shows sellers you’re serious. We break the process down step by step.

Diana Flowers

Steps to choose a lender, according to a loan officer: Consider mortgage options, get pre-qualified, compare offers and ask the right questions.

Kathryn Parkman

Looking to buy a home with a bad credit loan? Read our guide to learn about mortgage options and find out which one is best for you.

Bradley Schnitzer

Interested in buying a FSBO house? From preapproval to closing, we’ve got tips on how to buy a home for sale by owner in five simple steps.

Brandi Marcene

Looking to buy a house this year? ConsumerAffairs has 12 steps to help you land your dream home in 2021. See our guide for more information.

Brandi Marcene

Buying a condo is different from buying a house. From co-ops to home loans, we’re breaking down everything you need to know about buying a condo.

Emily Moore

An appraisal waiver can save a homebuyer time and money. Learn how skipping out on the appraisal works and what to consider if you waive it.

Josh Richner

VA loans are 0%-down mortgages for military members. Read our guide to learn how they work, pros, cons and how they compare with other home loans.

Jessica Render

A title search is a thorough review of documents related to a property’s ownership. Read our guide to see how it fits in the homebuying process.

Jennifer Schurman

How do USDA loan programs work? Read about USDA’s eligibility requirements and compare the pros and cons of USDA loans before you apply.

Michele Lerner

A wraparound mortgage is an alternative form of home financing that can help buyers with poor credit. Learn how it works and what to consider.

Josh Richner

Mortgage amortization offers a payoff option with predictable, fixed monthly payments. Read about how it works and the pros and cons.

Jennifer Schurman

Conditional approval means you’re likely to be approved for a loan, as long as you meet certain criteria. Learn about how it works and the benefits.

Jennifer Schurman

An appraisal contingency protects a homebuyer if the house is worth less than expected. Learn how it works and read about other common contingencies.

Jennifer Schurman

Jumbo loans are mortgages that exceed the conforming loan limit. Learn how jumbo loans work, if your eligible and how they compare to other loans.

Michele Lerner

Loans backed by the federal housing administration can be easier to qualify for. What they are, how they work and the pros + cons of FHA loans.

Jessica Render

Subprime mortgages help those with lower credit scores purchase a home, but they have higher rates. Learn how they work and the different types.

Bradley Schnitzer

Earnest money, also called a “good-faith deposit,” is an upfront payment the buyer puts down before closing. It shows they’re serious about an offer.

Diana Flowers

A piggyback loan is a small home equity loan you can take out alongside your mortgage. Learn how it works, the types available and what to consider.

Bradley Schnitzer

A Closing Disclosure is a document that outlines the finalized terms of your mortgage. Read our guide to see where it falls in the homebuying process.

Jennifer Schurman

A reverse mortgage can help you tap into your home’s equity, but is it worth it? Find out how it works and see the pros and cons with ConsumerAffairs.

Taylor Sansano

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Jennifer Schurman

Equal-opportunity housing means everyone has equal opportunity to be considered when buying or renting property. Read our guide to learn more.

Brandi Marcene

A promissory note is a document showing a borrower’s promise to repay a loan. Learn the differences between a mortgage and this type of document.

Jennifer Schurman

Caveat emptor is a Latin phrase meaning “let the buyer beware.” Learn what it has to do with a mortgage and what to look out for as you buy a home.

Jennifer Schurman

Forbearance is an option to consider if you need mortgage relief. Read more about how this payment pause works and the pros and cons.

Jennifer Schurman

A real estate attorney can help homebuyers through the closing process to make sure they understand the terms. Read more to find out if you need one.

Jennifer Schurman

Real estate comps are recently sold homes that are comparable to a home on the market. Learn how they’re used and how to find them.

Jennifer Schurman

Interest-only mortgages are nonconforming loans that let the borrower pay only on interest for a few years. Learn how they work and the pros and cons.

Bradley Schnitzer

Closing costs are lender processing, property and other fees paid to the lender when you close on a home. Learn how they work and how much they are.

Jennifer Schurman

A mortgage lien is a creditor’s legal claim on a property. Learn about voluntary and involuntary mortgage liens and how they work.

Bradley Schnitzer

Paying off your mortgage early can save you money on your loan. Learn how this process works and the pros and cons of early repayment.

Jennifer Schurman

Preforeclosure typically happens once a borrower misses three mortgage payments. Learn how it works, what it means for you and how to avoid it.

Jennifer Schurman

Is it better to rent or buy a home? We compare the pros and cons of each to help you determine if buying or renting is best for you.

Jennifer Schurman

A land loan is used to purchase property you plan to build a home on. Learn about how they work, the types available and what to consider.

Jennifer Schurman

Title insurance protects homebuyers and lenders from issues that arise in the transfer of property titles. Learn how it works and the different types.

Jennifer Schurman

Are home equity loans a good idea? Learn how home equity loans work, the benefits and disadvantages, home equity loans vs line of credit...

Michele Lerner

In the homebuying process, the mortgagee is the lender and the mortgagor is the borrower. Learn the duties and responsibilities of each.

Jennifer Schurman

Wondering about the differences between mortgage pre-qualification and preapproval? Use our guide to understand how each process works.

Valerie Johnston

Looking for a lower tax payment? If you’re paying interest on a home loan, learn more here about mortgage interest deductions and how they work.

Jennifer Schurman

Thinking about buying a house? Read our guide to learn what affects mortgage qualification and how to increase your chances of approval.

Jennifer Schurman

Wondering how to get rid of PMI on your mortgage? Check out our timeline to understand what you can expect and when you can first request PMI removal.

Jennifer Schurman

Looking to refinance your home but not sure how often it’s possible? Learn about refinance waiting periods and more with ConsumerAffairs.

Bradley Schnitzer

Wondering how long the homebuying process is? It often takes between 30 and 60 days. Check out our timeline to understand what you can expect.

Valerie Johnston

Curious about what you should know when getting a home inspection? Use our checklist to make sure you don't miss anything in the process.

Bradley Schnitzer

Thinking about applying for a home equity loan? Find out if you have the credit history, loan-to-value ratio and debt-to-income ratio to qualify.

Michele Lerner

Is it better to buy a condo or a house? We compare the pros and cons of each option to help you determine which one is best for you.

Jennifer Schurman

Not sure whether to get a 20-year or 30-year mortgage? Use our guide to understand the pros and cons of both mortgage term lengths.

Bradley Schnitzer

Should you buy or sell first? What’s a contingent offer? Get these answers and more in our guide to buying and selling at the same time.

Rosemary Avance, Ph.D.

Read our guide to learn about how a mortgage works, what’s involved in the homebuying process and basic mortgage terms you should know.

Brandi Marcene

Looking for an online mortgage lender? Check out our top picks to compare requirements and customer satisfaction. Find the best lender today.

Kathryn Parkman

Buying your first home? Check out Rocket, Better, New American Funding and more of our top lender picks. Plus, get answers to mortgage questions.

Kathryn Parkman

Want to refinance your mortgage? Compare our top 9 picks for 2021 based on verified reviews. Learn how to find the best mortgage refinance company for you.

Jessica Render

From setting a budget to closing, use our checklist to make buying a home a breeze. Learn more about the steps you should take when house-hunting.

Bradley Schnitzer

Buying a house and need a mortgage? Learn about the pros and cons of an FHA loan to decide if it’s the right type of mortgage for you.

Valerie Johnston

Need a home equity loan? Use our guide to find the best home equity loan lenders, compare loan requirements and fees and read verified customer reviews.

Michele Lerner

It’s important to know the differences between ARMs and fixed-rate mortgages so you choose the right loan for you. Each has benefits and drawbacks.

Brandi Marcene

Want to buy a house? Here’s everything you need to know about getting a mortgage, from the preapproval process to the closing details.

Kathryn Parkman

A score in the mid-700s gets better rates, but you can get approved at as low as 500. Learn more about how credit scores affect mortgage rates.

Amelia York

Check out the current rates for 15-year mortgages. Depending on your situation, loan type and lender, your home loan rates may differ.

Jennifer Schurman

Both mortgage lenders and banks can lend money for a home, but lenders usually offer more options, and banks often have stricter credit requirements.

Valerie Johnston

A 15-year mortgage is a good alternative to a 30-year mortgage if you want to pay your home loan off faster. Learn more with ConsumerAffairs.

Josh Richner

Wondering what determines mortgage interest rates? Check out our guide to learn how market factors and personal finances influence your rate.

Jennifer Schurman

The median down payment on a house is around 12% and increases with buyer age. Read our breakdown and find out minimum down payments by loan type.

Brandi Marcene

Get help with your down payment with a down payment assistance program. Learn more about what they are, how they work and how to apply.

Kathryn Parkman

A mortgage broker is an intermediary who can help you choose the best loan for you. Should you work with a broker or a direct lender?

Valerie Johnston

Conventional and FHA loans are two common types of mortgages for homebuyers. Learn more about the differences between these loans on ConsumerAffairs.

Brandi Marcene

Getting a condo mortgage requires additional steps in underwriting, and some loan programs have specific rules. Read more about condo mortgages here.

Brandi Marcene

A fixed-rate mortgage’s interest rate will never change. This certainty is popular among borrowers — see if it’s the right option for you.

Bradley Schnitzer

Homeownership isn’t out of reach! Compare lenders and read our guide on how to buy a house when your credit score is less than perfect.

Leorah Gavidor

The current 10-year mortgage rates listed here depend on elements like your credit score and the type of property you want to buy.

Josh Richner

Looking to buy a home but not sure where to start with a down payment? Read our guide for tips and advice to help save for a house.

Jennifer Schurman

A blanket mortgage is a type of financing that can help you efficiently procure a loan for multiple properties. Learn about these loans here.

Brandi Marcene

A conventional mortgage is a loan that’s not backed by the government. These loans have more flexibility but stricter qualifying requirements.

Bradley Schnitzer

PITI stands for principal, interest taxes and insurance. Learn how these four little letters make a big impact in your monthly mortgage payment.

Taylor Sansano

Is it a good time to refinance? Compare current refinance rates and learn more about how refinance rates work to decide if you’re ready.

Emily Moore

Check and compare current mortgage rates and get the lowdown on terms and loan types. Plus, find answers to your mortgage questions.

Emily Moore

VA rates are typically lower than conventional loan rates. See today’s rates and learn how to get the best mortgage rates from lenders.

Brandi Marcene

Mortgage brokers act as an intermediary between homebuyers and lenders. You can also choose to work directly with a lender. But which is best?

Emily Moore

VA loans help veterans and active-duty service members purchase homes with 0% down. Find out if you qualify and start the homebuying process today.

Jessica Render

Considering an FHA mortgage loan? See if you qualify by reviewing the FHA loan requirements for down payment, loan limits, credit score and...

Jessica Render

A mortgage is the type of loan you need to purchase or refinance a house. Learn important mortgage terminology and what to expect from the process.

Diana Flowers

Ready to apply for a VA home loan? Here’s what you need to do to get a Certificate of Eligibility from the Department of Veterans Affairs.

Diana Flowers

Can you refinance a VA loan? Yes! Learn how to get cash out or reduce interest rates with an IRRRL. Plus, eligibility requirements and costs.

Emily Moore

A home inspection is part of the mortgage process. Learn about average costs, what home inspectors look for and how to read a home inspection report.

Taylor Sansano

Thinking about getting a mortgage through the U.S. Department of Veterans Affairs? Explore VA home loan benefits to find out if it’s really worth it.

Jessica Render

A second mortgage is a loan taken out against the equity in your home. Learn more about how they work and how you qualify for one.

Sarah Harris

A warranty deed is a legal document between the seller and buyer of a home. Learn more about types of warranty deeds and how they work.

Sarah Harris

With owner financing, a buyer finances the purchase of a home directly with the home’s seller. Learn more about how it works and if it’s a good idea.

Sarah Harris

Average closing costs range from 2% to 5% of the loan amount. Use our guide to calculate closing costs and learn about closing fees.

Amelia York

You can qualify for first-time homebuyer benefits even if you’ve owned a home before. Read the full list of qualifications and homebuyer programs.

Jessica Render

When you can refinance depends on the mortgage type. Learn about timelines for refinancing FHA, VA, USDA, jumbo and conventional home loans.

Diana Flowers

There are many reasons to consider tapping into home equity through a cash-out refinance. Weigh the pros and cons to decide if it’s right for you.

Kathryn Parkman

Yes, you can refinance a reverse mortgage. Read about reverse mortgage refinance benefits to find out if it’s right for you on ConsumerAffairs.

Leorah Gavidor

Learn about four types of reverse mortgage scams and how to avoid them with ConsumerAffairs. Plus, find out where you can get legitimate information.

Leorah Gavidor

Planning to buy a house? Learn what an origination fee on a mortgage is and how much it costs. Plus, find out about other closing expenses.

Leorah Gavidor

A construction loan can help you pay to build a new house or renovate an existing one. Read more about how they work and how to get one.

Leorah Gavidor

Compare the best jumbo loan lenders to get the lowest rate. Learn about jumbo loan down payment options, interest rates, PMI and more. Top picks include ClearPath, Cardinal Financial and AmeriSave.

Emily Moore

There are several ways to pay back a reverse mortgage. While selling the home is fairly common, you also have other options to explore.

Brandi Marcene

An energy-efficient mortgage can help you pay for a home that’s already eco-friendly or finance new green improvements. Learn about programs here.

Brandi Marcene

Which mortgage is right for you? Learn about the different types of home loans and how to choose a mortgage that will fit your needs.

Brandi Marcene

Should you take advantage of your VA benefit, or is the FHA home loan a better deal? Compare the two mortgage options side by side to decide.

Brandi Marcene

Mortgage points are fees paid to a lender to reduce the interest rate you pay on your home loan. But how much do they cost, and are they worth it?

Sarah Harris

You may have heard that 20% is the ideal down payment amount, but that’s not always true. Here’s how down payments work and how much you should pay.

Kathryn Parkman

A title company confirms that a person has the legal right to sell a property. Learn what title companies do and how to choose one.

Taylor Sansano

Escrow is a deed, bond, asset or amount of money that’s held by a third party. Learn about when you need an escrow account and how it works.

Bradley Schnitzer

Want to understand the types of mortgage rates available? Find more about mortgage rate types and discover important things you should know.

Danni White

No-down-payment mortgages can be an appealing path to homeownership. Read the pros and cons, how to qualify and if they’re worth it.

Emily Moore

Government-backed loans can make it easier to qualify for a mortgage and buy a home. Compare your options and see which is right for you.

Bradley Schnitzer

No-closing cost refinances are available, but are they worth it? Read our guide to no-cost refinances to decide which refinance is right for you.

Bradley Schnitzer

Debt-to-income ratio is the portion of your income that goes toward paying debts. DTI affects how much house you can afford. Learn how to calculate.

Diana Flowers

Home appraisals determine the value of a property and are used in homebuying and refinancing. Learn more about what you can expect from an appraisal.

Emily Moore

Adjustable-rate mortgages come with variable interest rates that tend to start low but change over time. How do they work, and when are they worth it?

Emily Moore

Your home loan APR includes more than just an interest rate. Learn more about mortgage rates and how to compare rates and lenders.

Diana Flowers

Mortgage insurance protects lenders from losing money if a borrower defaults on a home loan. Learn when PMI is required and how much it costs.

Trina Thomas

Are you considering a reverse mortgage? Explore your options, such as renting the property or getting a HELOC, before making a decision.

Amelia York

If you are looking to turn your home equity into cash you can use, consider whether a reverse mortgage, HELOC or home equity loan is right for you.

Taylor Sansano

The VA funding fee is between 1.4% and 3.6% of the total loan. The amount is calculated based on loan type, down payment and other factors.

Trina Thomas

VA loan closing costs are typically 3% to 5% of the mortgage amount. Learn about appraisal fees, origination charges and other expenses.

Trina Thomas

VA loans don’t require a down payment, but making one can save on interest. We break down the pros and cons to help you decide to pay or save.

Diana Flowers

With a cash-out refinance, you use home equity to pay off other debts — but should you? We look at pros, cons and the true cost of refinancing.

Bradley Schnitzer

Whether you're buying your first home or you’ve owned for years, there are quite a few deductible expenses, from mortgage interest to property taxes.

Emily Moore

A proprietary reverse mortgage is a type of loan that gives seniors access to higher amounts of their home equity. Learn more about how it works.

Emily Moore

Need an FHA loan? Learn how to apply for an FHA loan. Compare the best FHA loan lenders. Top picks include AmeriSave, Homebridge and JG Wentworth.

Kate Williams, Ph.D.

Our picks for the top USDA lenders are Caliber Home Loans, New American Funding and AmeriSave Mortgage. Compare reviews and features to learn why.

Michele Lerner

What are the requirements for a reverse mortgage? Learn about age limits, ownership criteria and mandatory financial counseling with ConsumerAffairs.

Emma Simon

In the market for a new home? Be sure to check out our guide on the best Dallas mortgage lending companies to help you decide the right company.

Sandi Pope

Looking for a home loan? Read our guide to see a list of the best San Antonio mortgage loan companies. Compare and find the right one for your location.

Sandi Pope

Wanting to secure your dream home? Check out our guide to find the best Houston mortgage companies to compare trends, rates and more.

Sandi Pope

Looking for a new home? Read our guide on the best Tulsa mortgage companies. Compare trends, rates and more to find the right company.

Sandi Pope

Looking to secure your dream home? Read our guide on the best Las Vegas mortgage companies to compare rates, location trends and more.

Sandi Pope

Ready to be a homeowner in Pittsburgh? Check out our guide to see the best mortgage companies and learn what's required, trends and more.

Sandi Pope

Wanting to buy your dream home? Use our guide on the best Los Angeles mortgage companies to compare options and learn what type of loan is best for you.

Sandi Pope

Looking to buy a new home? We compiled a list of the best Austin mortgage lenders. Compare what loans are offered, rates and more.

Sandi Pope

Looking to purchase a home? Read our guide to find the best Chicago mortgage companies. Compare types of home loans, rates and more.

Sandi Pope

Wanting to purchase a new home? We compiled a list of the best Cincinnati mortgage lenders to help you compare loans and learn the requirements to apply.

Sandi Pope

Looking to purchase a home and need a mortgage? Use our list of the best Milwaukee mortgage companies to help you take your first step.

Sandi Pope

Buying a home is a big investment. Use our guide to find the best Denver mortgage lenders. Compare housing trends, loan types and more.

Sandi Pope

Wanting to buy a new home? Read our guide to find the best Indianapolis mortgage companies. Compare loans offered, services and more.

Sandi Pope

Looking to buy a house? Check out our guide to find the best Sacramento mortgage lenders. Learn about rates, trends and how to choose a company.

Sandi Pope

Looking for a way to secure your new home? Read our guide to find the best Atlanta mortgage companies. Compare loan types, learn requirements and trends.

Sandi Pope

Want to buy a house? Compare your options using our guide on the best Kansas City mortgage lenders. Learn the trends and requirements to be prepared.

Sandi Pope

Looking to buy a new home? We created a guide of the best Portland mortgage companies. Compare home loan types and learn trends and requirements.

Sandi Pope

Trying to buy a house? Read this guide to find the best Orlando mortgage lenders and learn the trends to take advantage of the market.

Sandi Pope

Buying a new home? Be sure to check out our guide to find the best Albuquerque mortgage lenders. Compare loan types, trends and requirements.

Sandi Pope