When your house is in need of some serious TLC, it can be tough finding room in your budget for renovations and repairs. One way to pay for those projects is by refinancing your home with a Federal Housing Administration-backed 203(k) loan. The FHA provides mortgage insurance on loans originated by lenders, backing them financially…
Understanding mortgages can really help you get a better grasp of the homebuying process. Take a look at these simple definitions to better understand at least part of the mortgage world. –Underwriting: The process that a lender goes through when deciding whether or not to extend credit. There are many determining factors in this decision such…
When the time is right to refinance your mortgage, you’ll probably want to make it as painless as possible. It’s a natural inclination to simply contact your current mortgage holder and take them up on one of the many offers they may have made to you through emails and direct-mail promotions. However, to realize maximum…
