Excited to shop for your first home? Before you schedule showings and attending open houses, there are a few steps you should take to prepare. 1. Check Your Credit Score If you're like most first-time homebuyers, you'll need to take out a mortgage in order to pay for your home. Before you apply for any kind of home...

Photo by Anthony Shkraba from Pexels Building your new home should be a rewarding experience, but it's important to know how the financing for a new construction is different from the financing for a previously owned home. You will need a specific type of loan called new construction loans, and they can be harder to get than a...

Image by Jojje from Shutterstock Many people own homes through a mortgage agreement. Traditional mortgages are primarily fully amortized or gradually paid off with regular payments over the lifetime of the loan. Each payment contributes to both the principal and the interest. A balloon mortgage is a short-term home loan with fixed-rate monthly payments that only take care...

Photo by Alexander Stein via PixabayWhen it comes to a mortgage, most of us think of the same standard product; the 15 or 30 year conventional mortgage offered by banks and lenders. This is not the only mortgage option you have, though. Depending on your personal history and circumstances you may qualify for an attractive mortgage with lower...

If you’re a first time homebuyer and want to start weighing your mortgage options, you’ll have much to learn. With so much at stake, you’ll want to make sure you choose the best mortgage for you now, and one that will still suit your needs years into the future. Sometimes, first time buyers are hesitant to ask questions they...