What are the Most Common Mortgage Loan Types?
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.
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,…
Make Sense of a Wild Week
May 6, 2022. Mortgage rates change quickly – and last week was no exception. Read what happened with the market, along with key takeaways from Wednesday’s Fed meeting and what it could mean for you in the long run.
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…
Rates Continue on an Upward Climb
April 4, 2022. We’re talking about affordability, inflation and the spring housing. My priority is to share the info you need to know to make informed homebuying decisions.
What Is a Condo? Everything You Need to Know Before You Buy
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…
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 Townhouse and Is It Right for Me?
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…
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 Credit Score is Required to Buy a House?
When you’re getting ready to buy a house, your lender will want to see your credit score, a three-digit number that represents how well you pay back debt. Before you apply for a mortgage, keep in mind that your…