Letter Of Explanation: Why It’s Important And How To Write One With Your Mortgage Application

Mortgage Basics - 7-minute read

Hanna Kielar - February 22, 2024

A letter of explanation can be important in the mortgage underwriting and application process. Learn when and how you’ll need to create an explanation letter.

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Home Equity Line Of Credit (HELOC): Defined And Explained

Mortgage Basics - 8-minute read

Victoria Araj - February 22, 2024

A home equity line of credit (HELOC) can help you leverage the equity in your home. Learn how they work, their requirements and how to estimate your HELOC.

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A Guide To Loan Estimates (Or “Good Faith Estimates”)

Mortgage Basics - 12-minute read

Kevin Graham - February 22, 2024

A loan estimate provides important information about the mortgage you have applied for including loan terms, costs and more. Read about loan estimates here.

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What Is Fair Market Value (FMV) In Real Estate And How Is It Calculated?

Mortgage Basics - 4-minute read

Lauren Bowling - February 22, 2024

Fair market value (FMV) in real estate is an assessment of a property's worth in an open market. Learn how FMV is calculated and what it's used for.

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Short Sale Vs. Foreclosure: Which Is Better For Buyers?

Mortgage Basics - 7-minute read

Carla Ayers - February 21, 2024

When the real estate market is competitive, you may consider buying a short sale or a foreclosed home. See the differences between short sales and foreclosures.

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How Special-Purpose Credit Programs Can Help Achieve Homeownership

Mortgage Basics - 7-minute read

Kevin Graham - February 19, 2024

Special-purpose credit programs allow borrowers from underserved populations a chance for certain benefits in qualifying for a mortgage. Read on for details!

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10 Tips For How To Get The Best Mortgage Rate Available

Mortgage Basics - 10-minute read

Andrew Dehan - February 19, 2024

With preparation, home buyers can get the lowest mortgage rate available, even as rates rise overall. Read our 10 tips for how to get the best mortgage rate.

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Should I Lock In My Mortgage Rate Today?

Mortgage Basics - 4-minute read

Victoria Araj - February 19, 2024

Since mortgage rates could potentially rise, it may be beneficial to lock in your mortgage rate today. Read here to learn the pros and cons of locking in now.

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What Is A 20-Year Mortgage, And Should You Consider One?

Mortgage Basics - 8-minute read

Sarah Sharkey - February 16, 2024

A 20-year mortgage is a home loan with monthly payments to a lender over a 20-year term. Learn more about 20-year home loans, including their pros and cons.

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How To Find The Right Real Estate Mentor For You

Mortgage Basics - 8-minute read

Patrick Russo - February 16, 2024

Real estate mentors can help investors navigate the real estate industry, from finding properties to closing deals. Learn how to find the right mentor for you.

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Tax Lien Investing: What You Need To Know

Mortgage Basics - 7-minute read

Miranda Crace - February 15, 2024

Interested in investing in tax lien certificates? Read our guide to learn the potential risks and rewards of tax lien investing, plus how to get started.

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How To Calculate Per Diem Interest

Mortgage Basics - 6-minute read

Kevin Graham - February 15, 2024

Borrowers can calculate per diem interest using a simple formula. Learn more about what per diem interest is and how it can be calculated on a mortgage loan.

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How Much Money Can You Get With A HELOC?

Mortgage Basics - 5-minute read

Sam Hawrylack - February 15, 2024

Are you considering a home equity line of credit (HELOC)? Uncover how much money you can expect to borrow with a HELOC, alternative financing options, and more.

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What Is A VA Guaranteed Loan?

Mortgage Basics - 7-minute read

Kevin Graham - February 14, 2024

Eligible veterans, service members and surviving spouses may benefit from a VA-guaranteed loan. Learn more about how it works and eligibility requirements.

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What Are The VA Loan Spouse Requirements?

Mortgage Basics - 4-minute read

Sarah Sharkey - February 14, 2024

A spouse or surviving spouse can qualify for a VA loan under certain conditions. Learn the VA loan spouse requirements and other rules for this type of loan.

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Freddie Mac: What Is The Federal Home Loan Mortgage Corporation (FHLMC)?

Mortgage Basics - 5-minute read

Dan Rafter - February 13, 2024

Freddie Mac is a government-sponsored agency charged with keeping mortgage markets liquid. Learn more about FHLMC – and how it impacts home buyers and sellers.

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What Is The Right Of First Refusal (ROFR) In Real Estate And How Does It Work?

Mortgage Basics - 6-minute read

Scott Steinberg - February 12, 2024

Right of first refusal (ROFR) allows a buyer to submit the first offer when an owner decides to sell. Read on to learn whether ROFR is right for your situation.

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FHA Appraisal And Inspection: Guidelines And What Happens After

Mortgage Basics - 9-minute read

Kevin Graham - February 12, 2024

An FHA loan requires an appraisal to ensure a home meets proper standards. Learn how an FHA appraisal works, how to prepare and what to expect afterwards.

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