How much can I afford when buying a home? When deciding how much you can afford when buying a home, you’ll have to factor in costs like your income, the sales price, down payment, interest rate, loan term, total monthly debts, closing costs, common expenses and even the state the home is located in. Working [...]

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What can cause your mortgage payment to change? If you’re a new homeowner who worked hard to negotiate the best selling price and rate for your home, you might be alarmed to see your bill suddenly change after paying the same cost for months. While those with an adjustable-rate mortgage or expiring temporary buydown might [...]

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What is a good debt-to-income ratio for a mortgage? If you’re taking the plunge and diving into homeownership, you may wonder what factors mortgage companies use to determine how much you’ll be able to afford. Besides your credit score and job stability, a debt-to-income ratio (DTI) of 36% or less is ideal and a major [...]

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Do lenders charge to run your credit report? Yes, here’s why. When you apply for a mortgage, your lender will check your credit to assess your financial history and determine loan eligibility. But does it cost lenders to pull credit reports? The short answer: Yes, many lenders charge a fee to run your credit report, [...]

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Your guide to buying a beach home: pros, cons and tips Owning a beach home sounds like the ultimate dream—waking up to the sound of waves, stepping onto your balcony with a fresh cup of coffee, and enjoying breathtaking ocean views. But is buying a vacation home a smart financial move? It depends on your [...]

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6 ways family members can help you get a mortgage Can you borrow money to buy a house? Absolutely. Many mortgage lenders accept multiple forms of assistance to finance your purchase. For first-time buyers, this might include using gift funds for a down payment, which can reduce upfront costs. Some borrowers may also consider personal [...]

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Is it still a good time to buy a house? Whether it's a good time to buy a house depends on your circumstances and financial readiness. Consider your job security, down payment savings, credit score and long-term goals. Current market conditions, like interest rates and housing prices in your area, also play a role. To [...]

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