Legally, there’s nothing stopping you from getting a mortgage this afternoon and refinancing it tomorrow morning. But just because you can do something doesn’t mean you should. If you’ve only recently joined the ranks of mortgage-paying homeowners, you might…
To help remove any confusion, we’ll cover the difference between a broker vs. lender, the pros and cons of each and how to find the right mortgage company to work with. Finally, we’ll help you determine when you should…
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.
Knowing what loan options are available to you enables you to choose a loan that best fits your needs. We’ll walk through the differences between the major types and categories of mortgage loans.
Homeownership is an enduring component of the American Dream – a benchmark Americans have measured success and well-being against for years. June marks the celebration of National Homeownership Month (NHM), dedicated to honoring those notions and celebrating the ways homeownership benefits families and communities across America.
Being a homebuyer in today’s challenging market is enough to inspire anyone to consider all sorts of financing alternatives on the journey toward buying a home. But in your mortgage search, you may have overlooked HomeReady. Never heard of…
“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,…
Buying another property is a dream for many homeowners. Who wouldn’t want to own an additional home, or even earn income from it? But getting a mortgage for an investment property or second home is more complicated than getting…
While strolling through your neighborhood (or scrolling through online listings), you might see signs on homes that read “pending” or “contingent.” When a home you’ve been eyeing finds itself in either status, you may wonder if it’s now too…
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…
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…
In recent years, women have become a powerful force in homebuying, comprising 19% of homebuyers in the U.S. But this hasn’t always been the case as historically, women and other minority groups have faced systemic discrimination in housing. While…
While flipping through listing statuses online, you may come across the word “contingency” – just one of the many terms and acronyms that come up during the homebuying journey. But whether or not it applies to your homebuying experience,…
You’ve heard the word “condo” or “condominium” before – but what is a condo, exactly? How is a condo different from an apartment? And, what’s the difference between a condo and a townhouse? There are often some misconceptions about…
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…
Few things compare to the fluttery feeling in your stomach the day you close on your home. After all, home loans often require homebuyers to have down payments and closing costs in hand — and those can be some…
What do you think of when you hear the word “home?” Maybe you’re picturing a location, with a community and a neighborhood. Or maybe it’s a plot of land or a physical structure. But no matter what image comes…
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, …
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…
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…