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 or building a home is one of the most exciting things you can do in life. For veterans and active-duty service members, VA loans make homeownership more affordable by requiring no down payment and offering competitive interest rates. But did you know that VA loans can also be used to build a custom home … Read more
The Federal Housing Administration (FHA) makes it easier to get a mortgage than other popular types of financing. The catch: Lenient borrowing requirements mean extra FHA closing costs. Closing costs are the fees charged by lenders and third parties to process and finalize your mortgage loan. When getting an FHA loan, these costs typically run … Read more
Building a new home from the ground up can be an exciting yet complicated process. Traditionally, you would need to secure financing for the land purchase, construction loan, and permanent mortgage in separate steps. This requires multiple loan applications, approvals, and closings. However, a revolutionary loan product called the one step construction loan streamlines the … Read more
A survey from ProPrivacy shows that many people (99% of those surveyed) fail to read the fine print when agreeing to terms for a product or service. However, understanding the key terms of a financial product, including a home equity agreement (HEA), can help in responsible management of financial affairs. A HEA provides an alternative … Read more
What happens when a property is being sold as-is and the seller will not do repairs but the home doesn’t meet FHA minimum property standards (MPS)? How does the buyer qualify for an FHA loan? It’s a great question and a situation that happens quite often. It’s worth mentioning that the seller is limiting his … Read more
Reviewed Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors opinions or evaluations. While people take out personal loans for a wide variety of reasons, they do share one common goal—minimizing their borrowing costs. One way to reduce costs is to find personal loans with no … Read more
When you take out a mortgage loan to finance a home purchase, ownership of the loan may change hands multiple times over its lifespan. While you make payments to your loan servicer, they are not necessarily the current owner of the mortgage. It’s important to know who actually owns your home loan in case you … Read more
Purchasing a home comes with myriad upfront costs – inspection fees, appraisal charges, title insurance, and more. These expenses, collectively called closing costs, can range from 2-5% of the total loan amount. For a $300,000 mortgage, you could pay $6,000-$15,000 in closing fees alone. As a buyer, covering these substantial charges can be a major … Read more
You don’t have much choice when it comes to paying taxes. However, you do have options on how to pay them. Writing a check is certainly one way, but in some cases, it may not be the best financial strategy. You may be in a situation where borrowing the money may be a better choice. … Read more