Homesmart

Tag: Mortgage

Posted on 05/19/2024
Fixed rate mortgage: Definition & key considerations
To choose the right mortgage loan, it’s important to...
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Posted on 07/30/2023
Home loans: Common repayment options for a 30-year mortgage
30-year mortgage rates are the norm among mortgage rates....
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Posted on 06/11/2023
How mortgage works: A guide to the basics
Getting a mortgage is a major part of the homebuying...
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Posted on 04/02/2023
Your quick guide to 30-year mortgage rates
 Most homebuyers, even those just starting their...
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Posted on 02/26/2023
How long does it take to buy a house? Major factors to consider
If you’re interested in purchasing property, you might be...
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Posted on 01/08/2023
Major Types of Veteran Mortgage Relief
If you have a VA loan, the U.S. government has options in place to assist you in case of financial hardship. There are multiple programs available to help you avoid late payments and foreclosure if your mortgage meets eligibility. Here are the major veteran mortgage relief options to know: Refund Modification A refund modification affects the principal and...
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Posted on 04/12/2020
Mortgage: What are Points?
Photo by Precondo via Pixabay Some mortgage companies offer loans with points. In a nutshell, paying points means paying down the interest rate. One point is equal to 1 percent of the mortgage amount. On a $200,000 mortgage, one point is $2,000. The percentage the interest rate lowers depends on the mortgage company and the market. For example,...
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Posted on 03/15/2020
Understanding Your Mortgage: Prepayment Penalties
Photo by Steve Buissinne via Pixabay Most are familiar with the key components of a mortgage: how much you're borrowing, what your interest rate is, how many years you'll be paying your mortgage back. There are many, however, who do not understand some of the finer details, including what prepayment penalties are and how they may affect you...
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Posted on 01/26/2020
How to Pay off Your Mortgage Fast
Photo by ESB Professional via Shutterstock If the thought of getting a mortgage and being in that much debt is stopping you from buying a home, plan to pay it off. Here’s how you can do it in just five to 10 years. Live well below your means. If you can keep your mortgage payment to below twenty...
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