If you have an adjustable rate mortgage (ARM) or have thought about getting one, you may wonder how your loan balance is amortized. Designing an amortization schedule is an easy way to see how a mortgage payment is applied to paying down the balance over time. Read More
Mortgages are thought to be home loans used to finance the purchase of a home. The word mortgage has become a generic term used to refer to a loan secured by real property because most mortgages occur as a condition for new loan money. Read More
One of the phrases that you might have heard at one point is “house poor.” This term can seem like a contradiction in some cases, since it’s hard to envision some people actually being poor, based on the homes that they have. Read More
For many consumers, homeownership is still an important financial and life milestone. Buying a home, however, requires a great deal of capital. Most of us can’t pay for a home in cash. Read More
After the housing bubble went “pop” in 2007, it became a lot tougher for the average home buyer to qualify for a mortgage. Read More
