Home, Mortgage, and Personal Finance Articles

Achieving the "American Dream" requires a solid understanding of the complex workings of real estate and personal finance. This collection of articles and resources will help you navigate through confusing aspects of real estate and personal finance and help you make informed decisions about property, mortgages and money. Whether you’re a first-time homebuyer or seasoned homeowner, have a flawless FICO score or live in credit chaos, the information here will help you find answers to your questions and achieve your property and personal finance goals.

The 6 Hidden Costs of Home Ownership
A monthly mortgage is the most obvious home ownership expense. But first-time home buyers often aren't fully aware of the many additional costs of owning a house. Here are six financial factors that prospective home buyers should weigh to budget for the true monthly costs associated with owning a home.

Top Eight First-Time Home Buyer Mistakes
Discover eight mistakes first-time home buyers often make when buying their first house, finding a real estate broker, and obtaining a first mortgage.

Mortgage Guide: Real Estate Tax Deductions and Credits Explained
Whether it's a million-dollar mansion or a lakeside bungalow, Uncle Sam offers many tax incentives on U.S. real estate that can sharply cut property ownership costs. This mortgage guide explains the various real estate tax deductions available to homeowners including points, mortgage expenses, property taxes, and capital gains credits associated with a home sale.

How Your FICO Credit Score Affects Your Mortgage Loan Interest Rate
Humorist Dave Barry once wrote the true measure of a person these days is his or her credit score. That's never been truer than with home mortgage loan rates, which factor heavily on a would-be borrower's credit history and FICO score. This article explains how a person's FICO credit score is calculated, what is considered a good credit score by mortgage lenders, and how your credit score affects the mortgage loan interest rates you can qualify for.

Mortgage Guide: Adjustable Rate Mortgage Loans Explained
Fixed rate and adjustable rate mortgage loans are both used to purchase a home or refinance an existing mortgage, but their terms are quite different. Fixed rate mortgage loan terms are fairly straightforward; ARM loan terms are anything but. This guide explains how adjustable rate mortgages work, describes the benefits and risks of ARM loans, and outlines how to determine if an adjustable rate mortgage is right for you.

Mortgage Guide: Reverse Mortgage Loans Explained
Reverse mortgage loans are an increasingly popular financial tool for older Americans wishing to tap their home equity without the burden of monthly repayments. Senior homeowners are using reverse mortgages to supplement Social Security payments, cover medical expenses, make major home repairs and for general use. This article explains what a reverse mortgage loan is and how a reverse mortgage works. It also provides information on types of reverse mortgage loans and rates, and outlines pros and cons you must consider to avoid potential reverse mortgage pitfalls.

Mortgage Guide: Home Equity Loans and Lines of Credit Explained
Whether you're borrowing money for home improvements, college tuition or debt consolidation, home equity loans and home equity lines of credit (HELOC) offer attractive tax benefits and interest rates compared to most consumer-loan products. Learn how home equity loans and HELOC work, and compare the benefits and drawbacks of fixed rate home equity loans and variable rate home equity lines of credit to determine which is the best option for your financial situation.

Mortgage Guide: VA Home Loans Explained
For more than 25 million Americans, the U.S. Veterans Administration's home-loan program offers mortgages with competitive rates and unique features especially attractive to first-time buyers - including no down payments, little or no closing costs and lenient credit-history requirements. This article offers a primer on VA housing loans, shares information on mortgage application requirements and credit qualification criteria, and provides links to additional VA mortgage resources.

Mortgage Guide: FHA and HUD Home Loans Explained
This article answers the question, "What is an FHA or HUD loan?" and describes various types of FHA or HUD loan programs available to potential homebuyers, including fixed rate, adjustable rate, graduated payment, and reverse mortgages. It also outlines the pros and cons of an FHA home loan compared to a conventional mortgage when considering a home purchase or refinance.

How to Avoid Private Mortgage Insurance (PMI)
Many homebuyers find it difficult to provide a 20% down payment and are forced to pay private mortgage insurance, or PMI, in order to finance a home. Learn how you can avoid private mortgage insurance (PMI) when taking out a mortgage loan, even if you don’t have a 20% down payment for the home purchase.

More Articles

• Federal Reserve Makes Second Rate Cut
• Federal Reserve Slashes Rate to 3.5%
• Will the Fed Lower Interest Rates This Month?
• Debt Reduction Tips To Help Start Off Your New Year

Get low Mortgage Rates for