Author: Regan Hagestad

Before you even think about perusing listings, selecting a real estate agent, setting up a home inspection and moving into your new place, you should first discuss the financial process of buying a house with your lender. According to realtor.com, here are three reasons why securing a lender before embarking upon the whole real estate process is so important. 1.

While interest-only mortgages promise low payments, they aren’t very common these days. It still is possible to get one of these loans, however, and if you’re considering going this route, you need to know what to expect. Here, Forbes explains what an interest-only mortgage is, how it works, and the pros and cons of signing on the dotted line. What

The climate’s current falling mortgage rates have many homeowners wondering whether they should refinance their mortgage right now. Timing a refinance can be tricky, but the time may indeed seem ripe for one, since according to Freddie Mac’s most recent Primary Mortgage Market Survey released Aug. 22, the average 30-year fixed interest rates have fallen to 3.55 percent—the lowest rate

Convinced your credit history is sure to dash your home-buying dreams? Good news: You still can buy a house if you have bad credit. From low credit score mortgages to cash options to down payment strategies, realtor.com explains five ways to buy a home with bad credit. 1. Check your credit report long before meeting with your mortgage lender  

As its name suggests, a bridge loan offers a short-term loan or “bridge” that allows borrowers to purchase new real estate property by using the home they currently own as collateral. Here, realtor.com explains why a bridge loan can be worth considering for borrowers who are trying to buy and sell a home at the same time. What is a bridge loan?

Prepaying a mortgage can be a financially savvy move for some homeowners. For others, however, it just doesn’t make sense. The bottom line: If you don’t have enough money to cushion your savings before you begin paying off your mortgage early, prepaying your home loan may put you in a financial hole if an emergency arises. To help determine whether

Upon borrowing money to purchase a home, one of the documents you will run across is an amortization schedule provided by your mortgage lender. The amortization schedule, in essence, outlines your loan payments each month and helps keep you on track. Here, realtor.com explains exactly what an amortization schedule is and why it’s important. What is an amortization schedule? When you

Buying a home is one of the largest financial decisions you’ll ever make in your life. So, it makes sense that you’d want to know what all of your money is going toward, right? It’s important to understand the full costs of homeownership by knowing what’s coming and creating a comprehensive budget that accounts for the entire package. Here, realtor.com

  When borrowing money to purchase a home, the annual percentage rate (APR) consists of the interest and other charges (such as closing costs, points, origination fees and private mortgage insurance) that you’ll pay as part of your monthly mortgage. There also are some costs that usually aren’t calculated into the APR, including the home appraisal, title search and insurance,