Step-by-Step Guide to Financing for Self-Employed Buyers
A comprehensive guide on how self-employed individuals can secure home financing. Get practical tips to make your dream home a reality.
How Does Rent-to-Own Work?
A rent-to-own property can provide another avenue to homeownership — but it’s not the right option for everyone. Learn the pros and cons of rent-to-own, and in what situations it could be an option worth exploring.
The ABCs of ARMs: How Adjustable-Rate Mortgages Work
“Pre-crisis, a range of other variable-rate loan products were all being offered widely to consumers with little to no advisory,” notes Robert Heck, Vice President of Mortgage at Morty. “Many people have been understandably skeptical of ARMs since then,…
Financial Literacy Resource Roundup
In honor of Financial Literacy Month (and in service of Morty’s mission to make home financing solutions accessible to all), we’ve pulled together some articles that can help, no matter where you are in your homebuying journey. All about…
What is Mortgage Insurance and How Does it Work?
So, what is mortgage insurance — and how do you know if you must pay it? In this article, we’ll look at the definition of mortgage insurance and discuss two types of mortgage insurance: private mortgage insurance (PMI) and…
How to Avoid PMI (Private Mortgage Insurance)
In case you’re worried about possibility of more costs added to your upfront or ongoing expenses, we’ll offer this gentle consideration: Paying PMI isn’t necessarily a bad thing because it can ultimately help you get into your dream home…
What is a Jumbo Loan? Everything You Need to Know About This Type Of Mortgage
When it comes time to shop for your mortgage, a lender might tell you that you need a jumbo loan. But what does that actually mean? In this guide, we’ll answer the question, “What is a jumbo mortgage?” Additionally, …
What is PMI? How Private Mortgage Insurance Works
Coming up with a down payment for a home can make even the most avid saver quake in their boots — it’s a big chunk of change. And if you plunk down less than a 20% down payment, you’ll make…
Unlocking Home Inspection Costs: A Vital Step on Your Homebuying Journey
You did it – you did your research, found a home you love and had your offer accepted! But there are still a number of stops left on your way to closing, including the home inspection. A home inspection…
How to Buy a House With No Money Down in 2022
Not parting with a chunk of change in the form of a down payment to buy a house — sounds like a dream, right? If you get the chance to put no money down for a home, you might…
Debt-to-Income Ratio: What is it and How is it Used by Lenders?
When you are thinking about buying a house, you’re probably envisioning the memories you’ll make in your new home, the great family dinners and nights hanging out with friends. Your thoughts may not initially stray into terms like “debt-to-income…
What is Cash-Out Refinancing and When is it a Good Option?
What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage…
What is Mortgage Forbearance and is it a Good Idea?
Have you ever gotten a bill and immediately wondered how you’ll come up with the money to pay for it? It’s a common situation, especially when you experience financial hardship or an unfortunate job loss. It’s a good rule…
When Does a Mortgage Pre-approval Expire?
Can you think of one of the earliest and most important steps involved in getting a mortgage? If you guessed getting a mortgage pre-approval, you’re right. You may think that getting a pre-approval involves mounds of paperwork and a…
How to Calculate Your Debt-to-Income Ratio (DTI)
When you first embarked on the journey of buying a home, you likely turned to online resources for preliminary insights. Perhaps you pondered the information you’d need to share with a lender or mortgage broker as part of the…
How to Get a Mortgage Pre-Approval
What is a Mortgage Pre-Approval? Getting a mortgage pre-approval from a broker or lender tells you how much you can borrow to purchase a home under certain conditions. Morty can pre-approve you in minutes, provided you meet certain eligibility…
How to Calculate Your Mortgage Payment
What is a Mortgage Payment? At a basic level, you know the definition of a mortgage payment: the amount of money you pay toward your mortgage each month. But you may be wondering, what exactly is included in a…
3 home improvements that can lower your tax bill
General home improvement projects don’t usually help homeowners when tax time rolls around. But there are a few home improvements that entitle homeowners to tax breaks. With a few weeks left in the year, you still have some time…
4 Tips For How to Plan, Budget and Smartly Purchase Your First Home
If buying a home in 2022, or at any point in the near future, is part of your goals it’s best to get started early. Having clarity regarding your finances and the home buying process can ensure you make…
The Rise Of Female Homebuyers
Despite an existing gender pay gap, single women are purchasing nearly double the number of homes than men. According to the National Association of Realtors Home Buyers and Sellers Generational Trends Report (2018), 65% of homebuyers were married, 18%…