mortgage terms

Deed of trust is a legal instrument in which the buyer transfers the title of the property to a trustee as security against a mortgage. Learn how a deed of trust...

Interest rates have skyrocketed to 6.32% in Q4 2024! But mortgage points can be your solution. These points are upfront fees to reduce your interest rates. Each mortgage point is equal to 1% of the loan...

Mortgage amortization refers to the process of paying off a mortgage loan through a series of regular payments over a fixed period of...

The national average mortgage loan limit in 2023 is $726,200 for a single-unit property. For Alaska and Hawaii, the limit is $1,089,300. The homebuyer’s purchasing power increases with larger loan...

Principal and interest are the two main components of your mortgage repayment structure. Understanding interest and principal is essential for every mortgage borrower. Mortgage payments are the cornerstone of...

Roger and Amber realized early that they couldn’t afford a mortgage loan at the current interest rate of 7.6%. So, they inquired if their seller’s mortgage was assumable. They found out that it was...

In 2024, the US median home price shot up to $426,900, a 4.1% jump from last year. What’s more, 93% of metro areas witnessed an increase in home prices. The result? Homeowners gain equity and can easily...

The average annual payment for a 30-year fixed mortgage is $3,759 at 7.17% interest rate. However, the IRS allows homeowners to take advantage of the mortgage interest deduction. This deduction enables...

Know the reasons for providing an explanation letter for mortgage approval and know how to write one. Use our free...

MBS is a financial tool that allows investors to obtain asset ownership without having to buy or sell mortgages...