Balloon Mortgages

What is a Balloon Mortgage? The mere mention of the words “balloon mortgage” is enough to make some people’s hair stand on edge. They have likely been burned by one in the past, or at least know someone who has. To most people, balloon mortgages are a dangerous risk to…

Refinancing a Mortgage

If you’ve ever had the pleasure of refinancing a mortgage you’ve learned that there’s nothing fun about it. Mountains of paperwork to fill out and numerous lender fees make it a laborious and costly process. But there are times when refinancing a mortgage is a smart move. With interest rates hovering…

Mortgage Discount Points

If you’ve been shopping around for a mortgage you have undoubtedly heard the term “points” mentioned many times. But if you are like most people, you haven’t the slightest idea what it means. What are Mortgage Discount Points? When people talk about mortgage points, they are usually referring to mortgage…

Mortgage Interest Rates

When shopping around for a mortgage, keep a close eye on mortgage interest rates. The interest rate on your loan will have a major impact on your monthly payment. Even small differences in rates can have a large impact over the life of the loan. Obviously you want to keep…

FHA Loans vs Conventional Loans

Federal Housing Authority (FHA) loans and Conventional loans both refer to different types of home mortgage loans, with conventional loans encompassing all mortgages regulated by the current Fannie Mae (Federal National Mortgage Association) and Freddy Mac (Federal Home Loan Mortgage Corporation) lending limits. There are two main differences between these…