Category: Mortgage
In 2020, interest rates took a sharp dive as the Federal Reserve sought to stave off economic collapse amid the pandemic. The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. Fast forward to today, the Fed’s efforts... Read More
During the homebuying process, one crucial decision that buyers often grapple with is whether to buy down their mortgage interest rate. Since interest rates play a pivotal role in determining the overall cost of a mortgage – what you end up paying each month as a mortgage payment... Read More
When you’re about to make an offer on a home, your real estate agent will ask how much “earnest money” you’d like to put down. Earnest money is a type of security deposit, also known as a “good faith” deposit, made to the seller of a home. It... Read More
Whether you’re a first-time homebuyer or have several home transactions under your belt, it helps to start the home-buying journey with accurate information so you can make informed decisions. Read More
In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. Whether you’re a first-time homebuyer in Los Angeles or you’re considering refinancing your home in... Read More
When it comes to buying a home, obtaining a mortgage pre-approval is an essential step in the process. A mortgage pre-approval provides you with a clear idea of your budget, helps you narrow down your home search, and... Read More
The mortgage industry has its own language, and in order to understand it, homebuyers need to learn different acronyms and jargon when shopping for a home loan. A typical home loan payment or mortgage payment involves a single payment, which is the sum of four different line items:... Read More