What Types Of Mortgage Lenders Are There, And How Do I Choose The Right One?

Mortgage Basics - 8-minute read

Victoria Araj - August 23, 2023

There are several types of mortgage lenders you can work with when buying a house. From traditional banks to credit unions, discover which one is right for you.

Read More

What Is LIBOR And How Did It Affect My Mortgage Rate?

Mortgage Basics - 4-minute read

Cathie Ericson - August 21, 2023

Until recently, LIBOR was a longstanding benchmark interest rate for adjustable-rate mortgages and other loans. Read to learn about LIBOR and its replacement.

Read More

Mortgage Points: What Are They, And Should You Buy Them?

Mortgage Basics - 6-minute read

Hanna Kielar - August 17, 2023

A mortgage point is a fee you pay to help lower the interest rate on a mortgage. Use our handy guide to learn more about discount points and how they work.

Read More

SOFR: Secured Overnight Financing Rate, Explained

Mortgage Basics - 5-minute read

Kevin Graham - August 16, 2023

The Secured Overnight Financing Rate (SOFR) guides lenders on how much to charge borrowers. Learn how replacing LIBOR with the SOFR system affects mortgage rates.

Read More

Solid Offers Come With A Verified Approval Letter

Mortgage Basics - 2-minute read

Andrew Dehan - August 16, 2023

A Verified Approval Letter shows your offer should be taken seriously. Learn how a VAL can be the advantage that gets your home offer accepted.

Read More

What Are Mortgage Bonds And How Do They Work?

Mortgage Basics - 4-minute read

Victoria Araj - August 14, 2023

Mortgage bonds protect lenders and allow you to invest in affordable real estate. Learn more about how they work and how they affect the real estate market.

Read More

Freddie Mac: What Is The Federal Home Loan Mortgage Corporation (FHLMC)?

Mortgage Basics - 3-minute read

Andrew Dehan - August 04, 2023

Freddie Mac is a government-sponsored agency charged with keeping mortgage markets liquid. Learn more about FHLMC – and how it impacts home buyers and sellers.

Read More

How Long Does Underwriting Take? A Timeline

Mortgage Basics - 10-minute read

Miranda Crace - August 01, 2023

How long does underwriting take? Buyers must wait 30 – 45 days on average for underwriting before they can close. Learn more about the underwriting timeline.

Read More

20-Year Vs. 30-Year Mortgage: How To Decide

Mortgage Basics - 7-minute read

Dan Rafter - July 28, 2023

Think it might be nice to knock an entire decade off your 30-year mortgage? Here’s what you need to know to decide between a 20-year vs. 30-year home loan.

Read More

Federal Reserve Press Release In Plain English – July 2023

Mortgage Basics - 3-minute read

Kevin Graham - July 28, 2023

The Federal Open Market Committee chose to raise the target range for the federal funds rate 0.25% to 5.25% – 5.5%. We break down what it means for you!

Read More

Federal Reserve Press Release In Plain English – June 2023

Mortgage Basics - 3-minute read

Kevin Graham - July 27, 2023

While the Federal Reserve probably isn’t done with rate hikes, they chose to waive the target range for the federal funds rate where it is this time around.

Read More

40% of Americans Say They Would Get An Adjustable-Rate Mortgage

Mortgage Basics - 6-minute read

Katie Ziraldo - July 26, 2023

Of first-time home buyers, 65.4% say they would consider getting a mortgage with an adjustable rate.

Read More

What Is PITI? Its Meaning And What It Stands For

Mortgage Basics - 7-minute read

Andrew Dehan - July 26, 2023

PITI stands for principal, interest, taxes and insurance. Learn why lenders combine these three costs when determining how much house an individual can afford.

Read More

A Guide To Bank Statements For Your Mortgage

Mortgage Basics - 7-minute read

Miranda Crace - July 25, 2023

Analyzing bank statements is an important part of the mortgage underwriting process. Learn more about the bank statements you’ll need to get a home loan.

Read More

What Are Mortgage Servicing Rights?

Mortgage Basics - 4-minute read

Melissa Brock - July 24, 2023

Mortgage servicing rights (MSR) are often transferred to a third-party that takes over the administrative tasks of servicing a mortgage in exchange for a fee.

Read More

What Is Fannie Mae And How Do FNMA Loans Work?

Mortgage Basics - 5-minute read

Kevin Graham - July 24, 2023

The Federal National Mortgage Association (FNMA), or Fannie Mae, purchases and backs mortgage loans for borrowers. Learn more about how Fannie Mae works.

Read More

What Is Manual Underwriting And How Does It Work?

Mortgage Basics - 7-minute read

Victoria Araj - July 24, 2023

Manual underwriting is one of the ways a lender can review your loan application for approval. Learn more about what this means for you and your loan.

Read More

27 Mortgage Terms, Plus What 40% Of Americans Don’t Know About Their Loan

Mortgage Basics - 11-minute read

Hanna Kielar - July 24, 2023

Learn about common mortgage lending terminology and vocabulary. Which Americans are confident with these terms, and how does your knowledge stack up?

Read More