A rate lock is a short-term agreement for a lender to "hold" an interest rate on a home while the buyer negotiates the actual sale. Rate Lock Requirements Requirements for rate locks vary from state to state. Within states, individual lenders often … [Read more...]

A mortgage rate is the interest rate you pay on your home loan. Understanding your mortgage rate is important, because your rate, along with your loan type and your loan amount, determines your monthly mortgage payment. Mortgage rates vary from day … [Read more...]

There are many types of mortgage loans. This article examines ten of the most popular mortgage types. 1. Fixed Rate Mortgage A fixed rate mortgage is a mortgage with an interest rate that does not change over time, ensuring monthly payments will … [Read more...]

One of the most common questions that many borrowers have is whether or not they should go with a fixed rate mortgage or an ARM.  An ARM is the abbreviation for an adjustable rate mortgage.  Typically, an adjustable rate mortgage is one that starts … [Read more...]

This economy has a lot of people asking a lot of questions! It seems like every other day the Federal Reserve makes an announcement the economy is “slowing”, all though truer along the Midwest regions. These announcements come as mortgage rates … [Read more...]

Fixed rate mortgages are becoming more popular, especially in today's mortgage markets.  Why? Well mortgage rates have continued to stay low for an extended period of time, and like any normal economic cycle, "what goes down, must go up." Bottom … [Read more...]