Bella Mertz Adjustable-rate mortgages (ARMs) can seem complicated, especially 7 year ARMs. But with the right calculator, you can easily estimate your mortgage payments and determine if a 7 year ARM is the right choice for your home loan. What is a 7 Year ARM? A 7 year adjustable-rate mortgage keeps your interest rate fixed for the … Read more
Private mortgage insurance (PMI) is an extra cost many homebuyers with smaller down payments face when getting a mortgage. With an FHA loan, this insurance is called mortgage insurance premiums (MIP). FHA loans require both upfront and annual MIP, adding hundreds per month to your mortgage payment. The good news is you can request to … Read more
Going through a foreclosure can devastate your credit score; according to credit scoring firm FICO, consumers can see their scores plummet by as many as 160 points. It can take years for a VA loan borrowers credit profile to recover fully, but it doesnt mean you have to wait years to buy another home. The … Read more
Whether a major renovation or a remodel, starting a home project can be a huge undertaking. But finding the right financing option can help make the process run more smoothly and hopefully minimize the financial burden. Homeowners today have a number of financing options available, but two popular options are home equity loans and home … Read more
If you’ve found the perfect plot of land in a rural area of Utah and are ready to build your dream home financing the construction project can be a challenge. That’s where USDA construction loans can help. These specialized home loans offered through the U.S. Department of Agriculture allow you to buy land and build … Read more
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. Bankrate has partnerships … Read more
Buying a home is an exciting experience, but it also comes with a lot of fees called closing costs. Closing costs are charges paid to finalize a mortgage loan and transfer ownership of a property. When getting a VA loan, you can expect to pay typical closing costs along with a few fees specific to … Read more
If you’re a veteran or active military service member looking to build your dream home, you may be wondering if you can use your VA home loan benefit to finance new construction The short answer is yes, you can build a home with a VA loan under certain conditions. VA loans are guaranteed by the … Read more
When trying to find solutions for financing your barndominium it is important to look at all your options. There are a number of different options available to you including FHA loans and traditional construction loans. However, if you are a veteran of the Armed Forces, a VA loan is one of your best choices. Knowing … Read more
If you’re looking to finance major home renovations or new construction, you’ll likely need to take out a specialized loan Two common options for funding these projects are construction loans and home equity loans. But which one is the better choice for your needs? I’ve taken an in-depth look at the key differences between construction … Read more