Buying land to build your dream home on can be an exciting prospect. However, land purchases require significant financing and not all loans are created equal. In this comprehensive guide I’ll walk you through the pros, cons and key details of the best loan options to finance a land purchase so you can make an … Read more
Buying a home is an exciting milestone in life. However, the process of getting a mortgage can be daunting especially for first-time homebuyers. If you’re looking to purchase a home in Virginia an FHA loan may be a great option thanks to relatively low down payments and flexible credit requirements. However, FHA loans do come … 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
Private mortgage insurance (PMI) is an extra cost required by most lenders when your down payment is less than 20% of the purchase price. With an FHA loan this insurance is called mortgage insurance premiums (MIP) and is required on all loans. Many borrowers want to know how to get rid of PMI on an … 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
The mortgage penalty calculator helps you estimate the prepayment penalty or charge that would apply if you prepaid your mortgage loan. Prepayment means paying off your mortgage faster than the initially agreed schedule. If youre here, youve probably checked out the mortgage prepayment calculator, which deals comprehensively with how you can save money and pay … Read more
Purchasing a home is an exciting milestone in life. For many veterans a VA home loan can help make homeownership more affordable. VA loans offer valuable benefits like no down payment and flexible credit guidelines. But what if you want to buy a house with someone who isn’t your spouse – like a girlfriend boyfriend, … Read more
Taking out a home equity loan or home equity line of credit (HELOC) can be a great way to access funds for home renovations debt consolidation or other big expenses. However, like any loan, there are costs associated with the process. Closing costs on home equity loans can range from a few hundred to a … Read more
Are you considering buying a foreclosed home? Wondering if it’s possible with an FHA loan? If so, you’re in the right place! Buying a foreclosed home can be financially beneficial because it may allow you to purchase a home at a lower price. Additionally, if you buy a home that needs work and then rehabilitate … Read more
How much youll pay will depend on the type of loan you choose Part of the Series Using a Mortgage Calculator When you buy a home with a mortgage, you dont just pay back the amount you borrowed, known as the principal. You also pay mortgage interest on the loan amount you havent yet repaid. … Read more