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Mortgages
Let us help you navigate all your homebuying options. From preapproval to refinancing, learn from real mortgage experts how to find a lender and get the best rate.
Mortgages Basics
Follow these 7 steps to financing a home
Personal and external factors affect your rate
Most loans require a 580 to 620 FICO score
Learn the 4 steps to get preapproved
20% down is an outdated metric
Learn the 8 steps to refinance a mortgage
Best of Mortgage
Use our guides to compare top mortgage companies on loan products, interest rates and recent reviews.
Latest Resources
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What is preforeclosure?
5/25/2023If you have received a preforeclosure notice, here’s what you need to know and which foreclosure alternatives can save your house.
Ashley Eneriz
Types of mortgage loans
5/25/2023Which mortgage is right for you? Learn about the different types of home loans and how to choose a mortgage that will fit your needs.
Ashley Eneriz
Best FHA Loan Lenders
5/23/2023Need an FHA loan? Learn how to apply for an FHA loan. Compare the best FHA loan lenders. Top picks include AmeriSave, Homebridge and JG Wentworth.
Ashley Eneriz
What is a HELOC, and how does it work?
5/23/2023If you’ve built up equity in your home, you might be able to cash in with a HELOC. Read about how it works to see if it’s right for you.
Jennifer Schurman
Homebuying checklist
5/22/2023From setting a budget to closing, use our checklist to make buying a home a breeze. Learn more about the steps you should take when house-hunting.
Ashley Eneriz
What credit score is needed to buy a house?
5/20/2023Understand the credit score requirements for buying a house and learn how your credit score impacts your ability to secure a mortgage.
Ashley Eneriz
What is a guaranteed loan?
5/20/2023A guaranteed loan is a mortgage option for borrowers with poor or no credit history. Learn how they work, the types and considerations.
Dr. Megan Hanna
What is an FHA streamline refinance? (2023)
5/20/2023An FHA streamline loan is a simplified way to refinance. Learn more about the guidelines, pros and cons and more to see if it's right for you.
Holly Johnson
How long does underwriting take?
5/19/2023About to start the mortgage process? Here’s how long underwriting can take and what you need to know to close on your home faster.
Jennifer Schurman
What is mortgage underwriting?
5/18/2023Mortgage underwriting is the process of reviewing a potential homebuyer’s finances. Read our guide to understand the process and timeline.
Holly Johnson
What is the average down payment on a house?
5/18/2023Wondering what is a good down payment? It is likely less than you think. Here’s how much you really need to save and put down to buy a house.
Ashley Eneriz
What is equal-opportunity housing?
5/18/2023Learn how to identify real estate companies and landlords that are committed to fair housing practices and why it matters for your next home.
Ashley Eneriz
What is a condo mortgage, and how does it work?
5/18/2023Getting a condo mortgage requires additional steps in underwriting, and some loan programs have specific rules. Read more about condo mortgages here.
Holly Johnson
Home equity loan requirements
5/15/2023If you’re applying for a home equity loan, learn about the qualifications for credit history, loan-to-value ratio and debt-to-income ratio.
Ashley Eneriz
What is a USDA loan, and am I eligible?
5/15/2023How do USDA loan programs work? Read about USDA’s eligibility requirements and compare the pros and cons of USDA loans before you apply.
Ashley Eneriz
Best Mortgage Refinance Companies
5/10/2023Want to refinance your mortgage? Compare our top 9 picks for 2021 based on verified reviews. Learn how to find the best mortgage refinance company for you.
Ashley Eneriz
What is a zero-down mortgage?
5/9/2023Want a zero-down mortgage? Learn more about how to buy a house with no money down and the pros and cons of financing 100% of your home purchase.
Lee Huffman
How to get a mortgage
5/8/2023Want to buy a house? Here’s everything you need to know about how to get a mortgage, from the preapproval process to the closing details. Learn more.
Kathryn Parkman
VA loan credit score requirements in 2023
5/8/2023VA home loans are an affordable mortgage option for qualifying service members. Understand how your credit score affects your VA loan options.
Ashley Eneriz
What is negative equity?
5/8/2023Negative equity occurs when the value of real estate property falls below the outstanding balance on the mortgage used to purchase that property.
Holly Johnson
What does clear to close mean?
5/5/2023“Clear to close” means you have the lender’s approval to schedule a closing date. Learn more about how to get cleared to close and what happens after.
Ashley Eneriz
What is escrow?
5/5/2023Learn what escrow is and how it works before you start shopping for your new home. Escrows protect your money during the homebuying process.
Ashley Eneriz
USDA eligibility maps: what they are and how to use them
5/5/2023USDA eligibility maps help homebuyers find properties that can be financed with a USDA loan. Learn more about the USDA loan map and how to use it.
Holly Johnson
FHA loan requirements in 2023
5/4/2023Considering an FHA mortgage loan? See if you qualify by reviewing the FHA loan requirements for down payments, loan limits and credit scores.
Ashley Eneriz
6 reverse mortgage alternatives
5/3/2023If you’re considering a reverse mortgage, explore alternatives, such as renting the property or getting a HELOC, before making a decision.
Ashley Eneriz
Can you refinance a reverse mortgage?
5/3/2023Yes, you can refinance a reverse mortgage. Read about reverse mortgage refinance benefits to find out if it’s right for you on ConsumerAffairs.
Leorah Gavidor
What is a piggyback loan?
4/28/2023A piggyback loan is a small home equity loan you can take out alongside your mortgage. Learn how it works, the types available and what to consider.
Holly Johnson
How interest rates affect buying power
4/28/2023Wondering how rising mortgage rates affect your loan? Even a 1% increase can limit what you can afford. Learn more about how rates work.
Emily Moore
Best Mortgage Lenders
4/21/2023Looking for the best mortgage lender? Our top picks include New American Funding, Cardinal Financial, AmeriSave and Rocket. Compare rates and reviews.
Kathryn Parkman
Best online mortgage lenders
4/18/2023Looking for an online mortgage lender? Check out our top picks to compare requirements and customer satisfaction. Find the best lender today.
Kathryn Parkman
What is a warranty deed?
4/13/2023Learn about warranty deeds, the legal documents that ensure a property's transfer of ownership is valid, with no liens or encumbrances present.
Ashley Eneriz
Conventional mortgage vs. FHA
4/13/2023Learn the differences between a conventional mortgage and an FHA when it comes to loan requirements, down payments and credit scores.
Ashley Eneriz
What is owner financing and how does it work?
4/13/2023Learn the benefits and risks of owner financing, a real estate financing arrangement where the seller acts as the lender, to see if it's for you.
Ashley Eneriz
How to get preapproved for a mortgage
4/13/2023Buying a home? Getting preapproved for a mortgage is the first step. Discover the benefits of preapproval and how it differs from pre-qualification.
Ashley Eneriz
First-time homebuyer loans and programs
4/13/2023These first-time homebuyer programs make buying a home a reality with special financing and assistance and flexible lending requirements.
Ashley Eneriz
How much house can I afford?
4/13/2023Figure out how much house you can afford with a mortgage calculator and the 28/36 rule. Learn the factors that affect your mortgage eligibility.
Ashley Eneriz
How much to offer on a house
4/7/2023Wondering if you should put in an offer over the list price? It may be necessary in a seller’s market, where the supply of available houses is low.
Jennifer Schurman
First-time homebuyer benefits
4/7/2023Looking to buy your first home? Discover the benefits of being a first-time homebuyer, including down payment assistance and tax credits.
Ashley Eneriz
Best Jumbo Loan Lenders
3/29/2023Compare the best jumbo loan lenders to get the lowest rate. Learn about jumbo loan down payment options, interest rates, PMI and more. Top picks include ClearPath, Cardinal Financial and AmeriSave.
Emily Moore
Best HELOC Lenders
3/28/2023Interested in a home equity line of credit for additional financing? Use our guide to compare and find the best HELOC lenders for you.
Jennifer Schurman
Best USDA Lenders
3/28/2023Our picks for the top USDA lenders are Caliber Home Loans, New American Funding and AmeriSave Mortgage. Compare reviews and features to learn why.
Ashley Eneriz
Best Home Equity Loan Lenders
3/28/2023Need a home equity loan? Use our guide to find the best home equity loan lenders, compare loan requirements and fees and read verified customer reviews.
Lee Huffman
Best VA Loan Lenders
3/28/2023Interested in applying for a VA loan? Read our buyers guide, compare ratings and use consumer reviews to find the best VA loan lenders.
Jessica Render
Best Reverse Mortgage Lenders
3/21/2023Looking for the best reverse mortgage companies? Our top picks include FAR, AAG and Liberty Reverse, based on verified customer review data.
Ashley Eneriz
Best cash-out refinance lenders
3/4/2023If you're interested in accessing your home equity with a cash-out refinance, we'll help you choose the best cash-out refi lender.
Lee Huffman
What is a mortgage?
3/2/2023A mortgage is the type of loan you need to purchase or refinance a house. Learn important mortgage terminology and what to expect from the process.
Diana Flowers
How to use home equity
2/28/2023Considering using your hard-earned equity in your home? You could get a refi, reverse mortgage, home equity loan or HELOC — which is right for you?
Taylor Sansano
How to negotiate your mortgage closing costs
2/10/2023You can’t avoid home closing costs, but you can lower them. While certain closing costs are fixed, you can save on variable ones. Learn more.
Ashley Eneriz
Building a house vs buying
2/10/2023You're ready for a new house. Should you buy it or build it? Here's how to evaluate the pros and cons of each as you plan your move.
Holly Johnson
What is a short sale, and should you buy a home through one?
2/10/2023In a short sale, a property is sold for less than the amount owed on the mortgage. Learn how it works and why you may want to take advantage of one.
Holly Johnson
FHA loan limits in 2023
2/10/2023When you apply for a mortgage backed by the Federal Housing Agency, FHA loan limits place a cap on the amount you can borrow. Learn more.
Dr. Megan Hanna
What is the average U.S. mortgage payment?
2/10/2023The average monthly mortgage payment for U.S. homeowners varies according to different factors. Learn more about what impacts monthly payments.
Gabriel Shabat
Reverse mortgage requirements
2/7/2023What are the requirements for a reverse mortgage? Learn about age limits, ownership criteria and mandatory financial counseling with ConsumerAffairs.
Emma Simon
How to negotiate after a home inspection
2/7/2023Check out these tips for negotiating after a home inspection to help you decide which concessions you should ask for from the seller.
Dr. Megan Hanna
When is the best time to buy a house?
2/6/2023Wondering what the best time of year to buy a house is? Use our guide to learn more about the process and seasonal considerations.
Josh Richner
What is a home equity sharing agreement?
2/4/2023A home equity agreement allows you to cash out some of the equity in your home in exchange for giving the lender an ownership stake in your property.
Ashley Eneriz
Fixed-rate HELOCs: a cross between HELOCs and home equity loans
2/4/2023Not sure whether you want a home equity loan or a home equity line of credit? A fixed-rate HELOC may offer the solution. Learn more now.
Lee Huffman
How to find the history of a property
2/3/2023Does something seem off about a home you are interested in buying? Here are a few easy ways to ensure a house isn't keeping secrets from you.
Gabriel Shabat
5 Ways to Determine House Value
2/3/2023Whether you’re a homeowner, buyer or seller, you need to know how much a home is worth. Here are different ways to determine a home’s value.
Dr. Megan Hanna
How to buy a duplex or a multi-family property
2/3/2023Getting a mortgage to buy a duplex or multi-unit home is possible for buyers who meet guidelines. Learn more about the financing options.
Gabriel Shabat
What is property tax? Everything homebuyers need to know
2/3/2023Learn the basics of property taxes, including how to pay them, what happens if you can't afford them and who's eligible for exemption.
Holly Johnson
The tax benefits of owning a home: must-know deductions and secrets
2/3/2023Homeowners can use several tax breaks, including the home mortgage interest deduction, to lower their tax bills. Learn more with our guide.
Gabriel Shabat
What home improvements are tax deductible?
2/3/2023Capital improvements are permanent structural changes to a property that enhance value, increase useful life or allow for a new use. Learn more.
Jessica Martel
Is buying a house a good investment?
1/27/2023Is buying a house a good investment? Buying a house can be a good investment. Before you buy, consider the pros and cons of homeownership.
Ashley Eneriz
What is home equity?
1/27/2023If you know anything about mortgages, you’ve probably heard a lot of talk about building equity. Read more about what this means and its importance.
Jennifer Schurman
What is a bridge loan?
1/27/2023A bridge loan is a short-term loan that’s often used for real estate. Read more if you’re interested in this type of gap financing.
Sandy Baker
Cash-out refinance vs. home equity loan
1/27/2023Cash out-refinance and home equity loans have some similarities, but there are several key differences, including how they work and requirements.
Bradley Schnitzer
What is nonrecourse debt?
1/27/2023Nonrecourse debt is backed by collateral. If you default the lender can seize the collateral but can't go after other assets. Here's how it works.
Emily Moore
What is mortgage recasting?
1/27/2023If you want to lower your monthly mortgage payment and save money on interest, a mortgage recast, or reamortization, may be right for you.
Jennifer Schurman
What is loan-to-value ratio?
1/27/2023When you apply for a loan, the lender weighs its risk by dividing the amount of the loan by the value of the asset. What’s this mean for a mortgage?
Sarah Goldy-Brown
What is Ginnie Mae?
1/27/2023Ginnie Mae is a government-owned company that makes it easier for lenders to give affordable home loans to underserved communities.
Jennifer Schurman
What is an HFA loan?
1/27/2023An HFA loan is designed for buyers with low to moderate incomes. Learn about how it works, the eligibility requirements and considerations.
Jennifer Schurman
What is an assumable mortgage?
1/27/2023An assumable mortgage is one you can take over from the original borrower, keeping the rates and terms. Learn how it works, types and considerations.
Jennifer Schurman
What is an appraisal waiver?
1/27/2023An appraisal waiver can save a homebuyer time and money. Learn how skipping out on the appraisal works and what to consider if you waive it.
Josh Richner
What is a wraparound mortgage?
1/27/2023A wraparound mortgage is an alternative form of home financing that can help buyers with poor credit. Learn how it works and what to consider.
Josh Richner
What is a title search?
1/27/2023A title search is a thorough review of documents related to a property’s ownership. Read our guide to see how it fits in the homebuying process.
Jennifer Schurman
What is a subprime mortgage?
1/27/2023Subprime mortgages help those with lower credit scores purchase a home, but they have higher rates. Learn how they work and the different types.
Bradley Schnitzer
What is a no-doc mortgage?
1/27/2023A no-doc mortgage is a home loan that doesn’t require traditional income verification from the lender. Learn how it works and the pros and cons.
Jennifer Schurman
What is a mortgage loan modification?
1/27/2023A mortgage loan modification is a change to the original terms of your home loan. Read about how it works, how to get one and more.
Jennifer Schurman
What is a land loan?
1/27/2023A land loan is used to purchase property you plan to build a home on. Learn about how they work, the types available and what to consider.
Jennifer Schurman
What is a defeasance clause?
1/27/2023A defeasance clause states that a borrower becomes the owner of the property once they’ve finished paying off a mortgage. What does it mean for you?
Jennifer Schurman
What is a Closing Disclosure?
1/27/2023A Closing Disclosure is a document that outlines the finalized terms of your mortgage. Read our guide to see where it falls in the homebuying process.
Jennifer Schurman
What does caveat emptor mean?
1/27/2023Caveat emptor is a Latin phrase meaning “let the buyer beware.” Learn what it has to do with a mortgage and what to look out for as you buy a home.
Jennifer Schurman
What does a real estate attorney do?
1/27/2023A real estate attorney can help homebuyers through the closing process to make sure they understand the terms. Read more to find out if you need one.
Jennifer Schurman
What does a mortgage loan originator do?
1/27/2023A mortgage loan originator is the entity that distributes your initial home loan funds. Learn more about an MLO’s function and fees.
Jennifer Schurman
What are seller concessions?
1/27/2023Seller concessions in a mortgage are incentives the seller uses to entice the buyer, like paying a portion of closing costs. Learn how they work.
Jennifer Schurman
What are real estate comps?
1/27/2023Real estate comps are recently sold homes that are comparable to a home on the market. Learn how they’re used and how to find them.
Jennifer Schurman
What are mortgage-backed securities?
1/27/2023Mortgage-backed securities are investment bonds backed by home loans. Learn more about how they work, the types and considerations.
Jennifer Schurman
Warranty deed vs. quitclaim deed
1/27/2023Warranty deeds and quitclaim deeds are both deeds used to transfer ownership of property, but a warranty deed comes with certain legal guarantees.
Jennifer Schurman
Should you make biweekly mortgage payments?
1/27/2023Paying biweekly on your mortgage early on can shorten the repayment term on your home loan. Learn how this works and the pros and cons.
Jennifer Schurman
Renting vs. buying a house
1/27/2023Is it better to rent or buy a home? We compare the pros and cons of each to help you determine if buying or renting is best for you.
Jennifer Schurman
Mortgagor vs. mortgagee
1/27/2023In the homebuying process, the mortgagee is the lender and the mortgagor is the borrower. Learn the duties and responsibilities of each.
Jennifer Schurman
Mortgage vs. deed of trust
1/27/2023The number of parties involved is one of the main differences between a mortgage and a deed of trust. Find out the other key differences.
Bradley Schnitzer
How to get rid of PMI
1/27/2023Wondering how to get rid of PMI on your mortgage? Check out our timeline to understand what you can expect and when you can first request PMI removal.
Jennifer Schurman
How to finance a mobile home
1/27/2023Mobile homes may be less expensive than traditional houses, but they're still investments. Learn how to finance a mobile home now.
Holly Johnson
How to buy a new-construction home
1/27/2023From finding a lender and getting preapproved to designing the home of your dreams, learn how to buy a new-construction home in five simple steps.
Jennifer Schurman
How to buy a house that’s for sale by owner
1/27/2023Interested in buying a FSBO house? From preapproval to closing, we’ve got tips on how to buy a home for sale by owner in five simple steps.
Brandi Marcene
How much does it cost to refinance?
1/27/2023Closing costs on a refi typically range from 2% to 6% of the purchase price. Use our guide to calculate your costs and learn about the fees.
Jennifer Schurman
FHA loans vs. USDA loans: 6 key differences
1/27/2023Eligibility requirements are the main distinction between FHA loans and USDA loans. Find out more about the key differences between these loan types.
Bradley Schnitzer
Does refinancing hurt your credit?
1/27/2023Wondering if refinancing affects your credit? It can reduce your score temporarily, but you should be OK as long as you pay on time.
Jennifer Schurman
Buying a condo vs. a house
1/27/2023Is it better to buy a condo or a house? We compare the pros and cons of each option to help you determine which one is best for you.
Jennifer Schurman
Buyer's market vs. seller's market
1/27/2023Supply and demand, local trends and other economic indicators determine whether you’re in a buyer’s or a seller’s market. Here's what to look for.
ConsumerAffairs Research Team
Current VA mortgage rates
1/27/2023VA rates are typically lower than conventional loan rates. See today’s rates and learn how to get the best mortgage rates from lenders.
Brandi Marcene
What is title insurance?
1/27/2023Title insurance protects homebuyers and lenders from issues that arise in the transfer of property titles. Learn how it works and the different types.
Jennifer Schurman
What is a mortgage lien?
1/27/2023A mortgage lien is a creditor’s legal claim on a property. Learn about voluntary and involuntary mortgage liens and how they work.
Bradley Schnitzer
What is a promissory note?
1/27/2023A promissory note is a document showing a borrower’s promise to repay a loan. Learn the differences between a mortgage and this type of document.
Jennifer Schurman
What are closing costs?
1/27/2023Closing costs are lender processing, property and other fees paid to the lender when you close on a home. Learn how they work and how much they are.
Jennifer Schurman
Should you pay off your mortgage early?
1/27/2023Paying off your mortgage early can save you money on your loan. Learn how this process works and the pros and cons of early repayment.
Jennifer Schurman
What is a conditional loan approval?
1/27/2023Conditional approval means you’re likely to be approved for a loan, as long as you meet certain criteria. Learn about how it works and the benefits.
Jennifer Schurman
What is a down payment on a home?
1/27/2023A down payment is a cash payment you make upfront on a home in order to secure it and reduce your principal. Learn how it works and the pros and cons.
Jennifer Schurman
What is amortization?
1/27/2023Mortgage amortization offers a payoff option with predictable, fixed monthly payments. Read about how it works and the pros and cons.
Jennifer Schurman
What is an appraisal contingency?
1/27/2023An appraisal contingency protects a homebuyer if the house is worth less than expected. Learn how it works and read about other common contingencies.
Jennifer Schurman
Home inspection checklist
1/27/2023Curious about what you should know when getting a home inspection? Use our checklist to make sure you don't miss anything in the process.
Bradley Schnitzer
Is mortgage interest deductible?
1/27/2023Looking for a lower tax payment? If you’re paying interest on a home loan, learn more here about mortgage interest deductions and how they work.
Jennifer Schurman
How does a mortgage work?
1/27/2023Read our guide to learn about how a mortgage works, what’s involved in the homebuying process and basic mortgage terms you should know.
Brandi Marcene
How to buy a house with bad credit
1/27/2023Looking to buy a home with a bad credit loan? Read our guide to learn about mortgage options and find out which one is best for you.
Bradley Schnitzer
What is a balloon mortgage?
1/27/2023waiting on cassidy to do preedit checks and write a meta description so here's some placeholder text so I can request the URL in the meantime.
Jennifer Schurman
How often can you refinance your home?
1/27/2023Looking to refinance your home but not sure how often it’s possible? Learn about refinance waiting periods and more with ConsumerAffairs.
Bradley Schnitzer
How to choose a mortgage lender
1/27/2023Steps to choose a lender, according to a loan officer: Consider mortgage options, get pre-qualified, compare offers and ask the right questions.
Kathryn Parkman
20-year vs. 30-year mortgage: Which is best for you?
1/27/2023Not sure whether to get a 20-year or 30-year mortgage? Use our guide to understand the pros and cons of both mortgage term lengths.
Bradley Schnitzer
What is a jumbo loan and am I eligible?
1/27/2023Jumbo loans are mortgages that exceed the conforming loan limit. Learn how jumbo loans work, if your eligible and how they compare to other loans.
Michele Lerner
How to get a home equity loan with bad credit
1/26/2023To get a home equity loan with bad credit, you’ll need to jump through more qualifying hoops and pay a higher rate. Learn more here.
Lee Huffman
VA loan requirements
1/26/2023VA loans help veterans and active-duty service members purchase homes with 0% down. Find out if you qualify and start the homebuying process today.
Jessica Render
How to qualify for a mortgage
1/26/2023Thinking about buying a house? Read our guide to learn what affects mortgage qualification and how to increase your chances of approval.
Jennifer Schurman
How long does it take to buy a house?
1/26/2023Wondering how long the homebuying process is? It often takes between 30 and 60 days. Check out our timeline to understand what you can expect.
Valerie Johnston
How to save money for a house
1/26/2023Looking to buy a home but not sure where to start with a down payment? Read our guide for tips and advice to help save for a house.
Jennifer Schurman
What are interest-only mortgages and how do they work?
1/26/2023Interest-only mortgages are nonconforming loans that let the borrower pay only on interest for a few years. Learn how they work and the pros and cons.
Bradley Schnitzer
Mortgage broker vs. lender
1/26/2023A mortgage broker is an intermediary who can help you choose the best loan for you. Should you work with a broker or a direct lender?
Valerie Johnston
Mortgage lender vs. bank
1/26/2023Both mortgage lenders and banks can lend money for a home, but lenders usually offer more options, and banks often have stricter credit requirements.
Valerie Johnston
Current 10-year mortgage rates
1/26/2023The current 10-year mortgage rates listed here depend on elements like your credit score and the type of property you want to buy.
Josh Richner
How to get down payment assistance
1/26/2023Get help with your down payment with a down payment assistance program. Learn more about what they are, how they work and how to apply.
Kathryn Parkman
What is a mortgage broker?
1/26/2023Mortgage brokers act as an intermediary between homebuyers and lenders. You can also choose to work directly with a lender. But which is best?
Emily Moore
What is a good debt-to-income ratio for a mortgage?
1/26/2023Debt-to-income ratio is the portion of your income that goes toward paying debts. DTI affects how much house you can afford. Learn how to calculate.
Diana Flowers
What is a home appraisal and how do they work?
1/26/2023Home appraisals determine the value of a property and are used in homebuying and refinancing. Learn more about what you can expect from an appraisal.
Emily Moore
What is an adjustable-rate mortgage and how do they work?
1/26/2023Adjustable-rate mortgages come with variable interest rates that tend to start low but change over time. How do they work, and when are they worth it?
Emily Moore
Mortgage APR vs. interest rate
1/26/2023Your home loan APR includes more than just an interest rate. Learn more about mortgage rates and how to compare rates and lenders.
Diana Flowers
How to buy a house
1/26/2023Looking to buy a house this year? ConsumerAffairs has 12 steps to help you land your dream home in 2021. See our guide for more information.
Brandi Marcene
What is mortgage forbearance?
1/26/2023Forbearance is an option to consider if you need mortgage relief. Read more about how this payment pause works and the pros and cons.
Jennifer Schurman
What is mortgage insurance?
1/26/2023Mortgage insurance protects lenders from losing money if a borrower defaults on a home loan. Learn when PMI is required and how much it costs.
Trina Thomas
ARM vs. fixed-rate mortgages
1/26/2023It’s important to know the differences between ARMs and fixed-rate mortgages so you choose the right loan for you. Each has benefits and drawbacks.
Brandi Marcene
15-year vs. 30-year mortgage
1/26/2023A 15-year mortgage is a good alternative to a 30-year mortgage if you want to pay your home loan off faster. Learn more with ConsumerAffairs.
Josh Richner
Best bad credit home loans
1/26/2023Homeownership isn’t out of reach! Compare lenders and read our guide on how to buy a house when your credit score is less than perfect.
Leorah Gavidor
Best mortgage lenders for first-time buyers
1/26/2023Buying your first home? Check out Rocket, Better, New American Funding and more of our top lender picks. Plus, get answers to mortgage questions.
Kathryn Parkman
How do construction loans work?
1/26/2023A construction loan can help you pay to build a new house or renovate an existing one. Read more about how they work and how to get one.
Leorah Gavidor
What is an origination fee?
1/26/2023Planning to buy a house? Learn what an origination fee on a mortgage is and how much it costs. Plus, find out about other closing expenses.
Leorah Gavidor
Mortgage pre-qualification vs. preapproval
1/26/2023Wondering about the differences between mortgage pre-qualification and preapproval? Use our guide to understand how each process works.
Valerie Johnston
How to sell and buy a house at the same time
1/26/2023Should you buy or sell first? What’s a contingent offer? Get these answers and more in our guide to buying and selling at the same time.
Rosemary Avance, Ph.D.
Types of mortgage rates
1/26/2023Want to understand the types of mortgage rates available? Find more about mortgage rate types and discover important things you should know.
Danni White
How are mortgage rates determined?
1/26/2023Wondering what determines mortgage interest rates? Check out our guide to learn how market factors and personal finances influence your rate.
Jennifer Schurman
What is a conventional mortgage?
1/26/2023A conventional mortgage is a loan that’s not backed by the government. These loans have more flexibility but stricter qualifying requirements.
Bradley Schnitzer
What is a fixed-rate mortgage?
1/26/2023A fixed-rate mortgage’s interest rate will never change. This certainty is popular among borrowers — see if it’s the right option for you.
Bradley Schnitzer
Pros and cons of an FHA Loan
1/26/2023Buying a house and need a mortgage? Learn about the pros and cons of an FHA loan to decide if it’s the right type of mortgage for you.
Valerie Johnston
What is a blanket mortgage?
1/26/2023A blanket mortgage is a type of financing that can help you efficiently procure a loan for multiple properties. Learn about these loans here.
Brandi Marcene
What is an energy-efficient mortgage?
1/26/2023An energy-efficient mortgage can help you pay for a home that’s already eco-friendly or finance new green improvements. Learn about programs here.
Brandi Marcene
Refinance rates today
1/26/2023Is it a good time to refinance? Compare current refinance rates and learn more about how refinance rates work to decide if you’re ready.
Emily Moore
Current mortgage rates
1/26/2023Check and compare current mortgage rates and get the lowdown on terms and loan types. Plus, find answers to your mortgage questions.
Emily Moore
How to buy a house with no money down
1/26/2023No-down-payment mortgages can be an appealing path to homeownership. Read the pros and cons, how to qualify and if they’re worth it.
Emily Moore
How to buy a condo
1/26/2023Buying a condo is different from buying a house. From co-ops to home loans, we’re breaking down everything you need to know about buying a condo.
Emily Moore
What are mortgage points?
1/26/2023Mortgage points are fees paid to a lender to reduce the interest rate you pay on your home loan. But how much do they cost, and are they worth it?
Sarah Harris
Government home loans: What are they and should you get one?
1/26/2023Government-backed loans can make it easier to qualify for a mortgage and buy a home. Compare your options and see which is right for you.
Bradley Schnitzer
How a no-closing-cost refinance works
1/26/2023No-closing cost refinances are available, but are they worth it? Read our guide to no-cost refinances to decide which refinance is right for you.
Bradley Schnitzer
What is a second mortgage and how do you qualify for one?
1/26/2023A second mortgage is a loan taken out against the equity in your home. Learn more about how they work and how you qualify for one.
Sarah Harris
What is earnest money?
1/26/2023Earnest money, also called a “good-faith deposit,” is an upfront payment the buyer puts down before closing. It shows they’re serious about an offer.
Diana Flowers
How much are closing costs?
1/26/2023Average closing costs range from 2% to 5% of the loan amount. Use our guide to calculate closing costs and learn about closing fees.
Amelia York
How much should you put down on a house?
1/26/2023You may have heard that 20% is the ideal down payment amount, but that’s not always true. Here’s how down payments work and how much you should pay.
Kathryn Parkman
What is PITI?
1/26/2023PITI stands for principal, interest taxes and insurance. Learn how these four little letters make a big impact in your monthly mortgage payment.
Taylor Sansano
What does a title company do?
1/25/2023A title company confirms that a person has the legal right to sell a property. Learn what title companies do and how to choose one.
Taylor Sansano
What is a prepayment penalty?
1/23/2023What is a prepayment penalty, and what can you do to avoid it? Learn how to pay off your mortgage early without triggering the prepayment penalty fee.
Holly Johnson
Pros and cons of paying off your mortgage before retirement
1/23/2023Paying off your mortgage before retirement comes with a number of financial benefits. Read more to find out if it’s the right move for you.
Gabriel Shabat
What is a digital mortgage process?
1/23/2023Applying for a mortgage can be done online or in person. Learn about the digital mortgage process and how it can save you time and money.
Holly Johnson
What to expect from a home inspection
1/23/2023A home inspection is part of the mortgage process. Learn about average costs, what home inspectors look for and how to read a home inspection report.
Taylor Sansano
Current 15-year mortgage rates
1/23/2023Check out the current rates for 15-year mortgages. Depending on your situation, loan type and lender, your home loan rates may differ.
Jennifer Schurman
Mortgage Rate Lock: How and When to Lock in Your Mortgage Rate
1/23/2023If you’re buying a home, our comprehensive guide will help you understand what a mortgage rate lock is, how it works and the fees associated with it.
Dr. Megan Hanna
Interest rate cap: what it means for ARMs
1/23/2023Interest rate caps are commonly used in adjustable-rate mortgage (ARM) loans. Learn more about how these caps work and what to look for.
Dr. Megan Hanna
Should I use a mortgage broker?
1/23/2023A mortgage broker could save you time, money and stress by finding you a deal, negotiating fees and keeping the loan process on track.
Holly Johnson
What is the VA funding fee?
1/19/2023The VA funding fee is between 1.4% and 3.6% of the total loan. The amount is calculated based on loan type, down payment and other factors.
Trina Thomas
VA Loan Limits for 2022
1/19/2023Starting in 2020, the VA loan limit has been eliminated for most qualifying veterans. Read on for exceptions and to find out if you qualify.
Trina Thomas
Buying second homes first
1/19/2023We explore how many first-time homebuyers are buying homes in less competitive secondary locations rather than investing in a primary residence.
ConsumerAffairs Research Team
Most expensive cities in the U.S.
1/19/2023We ranked major U.S. cities using Census data on housing costs. See which cities grabbed the top and bottom spots and where your city is on our list.
Vincent Landino
FHA vs. VA loans
1/19/2023Should you take advantage of your VA benefit, or is the FHA home loan a better deal? Compare the two mortgage options side by side to decide.
Brandi Marcene
Fastest-growing cities in the U.S.
1/19/2023Facts and statistics on the fastest-growing cities in the United States by population number growth and population percent growth.
Jon Bortin
Letter of explanation for mortgage: how to write one
1/18/2023Your lender may ask for a letter of explanation to clarify details in your mortgage application. Learn the steps involved to write one.
Holly Johnson
How to apply for a mortgage
1/14/2023When you apply for a mortgage, following the correct process matters. Here's how to prepare, what to do and what the lender does at each step.
Dr. Megan Hanna
Mortgage interest deduction
1/14/2023Mortgage interest deduction could cut your tax bill this year if you itemize and follow a few other rules. Here's what to know about it.
Lee Huffman
Does mortgage preapproval affect your credit score?
1/6/2023Mortgage preapproval hurts your credit score temporarily, but it makes homebuying easier. Learn more about its impact and how long it lasts.
Holly Johnson
How your debt-to-income ratio can affect your mortgage
1/6/2023Your debt-to-income ratio impacts the type of mortgage you qualify for — and whether you qualify at all. Learn what you can do about your DTI ratio.
Holly Johnson
What is a no closing cost refinance?
1/6/2023A no-closing-cost refinance means you don't have to pay for closing costs upfront. Instead, you pay a higher rate or add to your balance.
Ashley Eneriz
Complete checklist of mortgage refinance requirements
1/6/2023Mortgage refinancing requirements range from having a low debt-to-income ratio to having enough equity in your home. Here’s what you need to know.
Lee Huffman
Loan modification vs. refinance: how to decide
12/30/2022Looking for ways to lower your mortgage payment? Learn about the differences between a loan modification and a refinance and which one might help you.
Dr. Megan Hanna
How to buy a second home
12/23/2022Getting a mortgage for a second property is different from getting a mortgage for your first property. Here’s what you need to know.
Holly Johnson
Investment and rental property mortgage rates: 2022 guide
12/23/2022Rental property mortgage rates differ greatly from those for primary residences. Learn how to get the best interest rate for your rental property.
Lee Huffman
Low home appraisal: why it happens and how it can affect your refinance
12/23/2022A low home appraisal could hurt your chances of qualifying for a refinance, so it’s important to know why it could happen and how to appeal one.
Lee Huffman
Contingent vs pending: What’s the difference?
12/23/2022Homebuyers sometimes confuse contingent and pending. Learn the difference between pending and contingent and what the two terms mean for homebuying.
Holly Johnson
Pros and cons of reverse mortgages
12/23/2022A reverse mortgage is a type of loan that allows property owners 62 and older to convert real estate equity into spendable cash. Learn more.
Lee Huffman
Reverse mortgage vs. home equity loan vs. HELOC
12/22/2022If you are looking to turn your home equity into cash you can use, consider whether a reverse mortgage, HELOC or home equity loan is right for you.
Ashley Eneriz
How do you pay back a reverse mortgage?
12/22/2022There are several ways to pay back a reverse mortgage. While selling the home is fairly common, you also have other options to explore.
Ashley Eneriz
FannieMae RefiNow Program: A Refinancing Option for Seniors
12/12/2022Whether you have low income, poor credit, or little equity, there are plenty of options for you to refinance your mortgage as a senior. Find out more.
ConsumerAffairs Research Team
Should you refinance your mortgage to pay off student loans?
12/12/2022One way to pay off student loans is by taking out a student loan cash-out refinance. This wraps your debt into your mortgage and can save you money.
ConsumerAffairs Research Team
How does a cash-out refinance work?
12/9/2022Cash-out refinancing helps you leverage your home equity into cash. Learn more about the pros and cons by reading our article here.
Dr. Megan Hanna
Waiting on a housing market crash?
8/31/2022With the threat of recession, experts predict the housing market will cool. What does this mean for buyers and owners, and how are they preparing?
ConsumerAffairs Research Team
What is a home equity loan, and how does it work?
8/19/2022Are home equity loans a good idea? Learn how home equity loans work, the benefits and disadvantages, home equity loans vs line of credit...
Michele Lerner
Comparing the costs of generations
8/18/2022Our study explores how the average cost of living for a baby boomer in their twenties (in the 1970s) compares with that of twenty-somethings today.
ConsumerAffairs Research Team
Do women have to work harder for a home?
8/2/2022We explored how long women need to save to afford a home in their state — and how much longer than men it takes them to reach homeownership.
ConsumerAffairs Research Team
What is "house poor"?
7/29/2022Do you feel like you spend too much on homeownership? You’re not alone. Check out homeowner perspectives on housing expenses and affordability.
ConsumerAffairs Research Team
What is eminent domain?
7/28/2022Eminent domain is the power of a city, state or federal government to take ownership of your property for public use. Read about how it works.
Emily Moore
Tax deductions for homeowners
7/28/2022Whether you're buying your first home or you’ve owned for years, there are quite a few deductible expenses, from mortgage interest to property taxes.
Emily Moore
Proprietary reverse mortgage
7/26/2022A proprietary reverse mortgage is a type of loan that gives seniors access to higher amounts of their home equity. Learn more about how it works.
Emily Moore
How to refinance a mortgage
4/14/2022Refinancing your mortgage is a way to lower your payments or cash in on the home equity you’ve built up. Here’s how to refinance in eight steps.
Kathryn Parkman
What is a VA Loan?
4/1/2022VA loans are 0%-down mortgages for military members. Read our guide to learn how they work, pros, cons and how they compare with other home loans.
Jessica Render
What is an FHA loan?
4/1/2022Loans backed by the federal housing administration can be easier to qualify for. What they are, how they work and the pros + cons of FHA loans.
Jessica Render
What is a reverse mortgage, and how does it work?
4/1/2022A reverse mortgage can help you tap into your home’s equity, but is it worth it? Find out how it works and see the pros and cons with ConsumerAffairs.
Taylor Sansano
How to get a VA Certificate of Eligibility
2/3/2022Ready to apply for a VA home loan? Here’s what you need to do to get a Certificate of Eligibility from the Department of Veterans Affairs.
Diana Flowers
How to refinance a VA loan
2/3/2022Can you refinance a VA loan? Yes! Learn how to get cash out or reduce interest rates with an IRRRL. Plus, eligibility requirements and costs.
Emily Moore
10 VA loan benefits
1/27/2022Thinking about getting a mortgage through the U.S. Department of Veterans Affairs? Explore VA home loan benefits to find out if it’s really worth it.
Jessica Render
How soon can you refinance a mortgage?
1/27/2022When you can refinance depends on the mortgage type. Learn about timelines for refinancing FHA, VA, USDA, jumbo and conventional home loans.
Diana Flowers
Cash-out refinance: how it works + pros and cons
1/27/2022There are many reasons to consider tapping into home equity through a cash-out refinance. Weigh the pros and cons to decide if it’s right for you.
Kathryn Parkman
Reverse mortgage scams
1/26/2022Learn about four types of reverse mortgage scams and how to avoid them with ConsumerAffairs. Plus, find out where you can get legitimate information.
Leorah Gavidor
How much are VA loan closing costs?
1/19/2022VA loan closing costs are typically 3% to 5% of the mortgage amount. Learn about appraisal fees, origination charges and other expenses.
Trina Thomas
Advantages of a VA Loan Down payment
1/19/2022VA loans don’t require a down payment, but making one can save on interest. We break down the pros and cons to help you decide to pay or save.
Diana Flowers
How to consolidate debt with mortgage refinance
1/19/2022With a cash-out refinance, you use home equity to pay off other debts — but should you? We look at pros, cons and the true cost of refinancing.
Bradley Schnitzer
Latest News
Home sellers are beginning to cut asking prices
Mark Huffman
Here are the best (and worst) states to rent a home
Mark Huffman
Experts weigh in on the real estate markets in Sacramento, South Florida, Philadelphia, Atlanta and Austin
Mark Huffman
If you’re trying to buy a home, here’s some good news
Mark Huffman
Minority renters face higher upfront costs, study suggests
Mark Huffman