Key takeaways A mortgage pre-approval is an official letter from a lender stating how much you can borrow, possible loan options, and interest rates. Lenders evaluate […]
Key takeaways A pre-qualification is an estimate of how much you might be able to borrow for a home, based on basic financial information you provide. […]
An adjustable-rate mortgage (ARM) is a home loan that starts with a fixed interest rate for a set period—often 5, 7, or 10 years—then adjusts periodically […]
Figuring out how much house you can afford isn’t just about the maximum mortgage a lender approves. While preapproval sets an upper limit, true affordability depends […]
Private mortgage insurance (PMI) is an added monthly cost required on many conventional mortgages when a borrower puts down less than 20%. While PMI helps protect […]
13 housing trends that defined another slow year, including record-high house prices, falling mortgage rates, and a gridlocked market 2025 was a difficult year for the […]