Readers: This is article 11 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Your credit score is a financial report card that tells lenders how risky it is to do business with you. Credit scores are especially important for ...
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How Much Can I Afford to Borrow for a New Home?
Readers: This is article 9 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Although there are exceptions to every rule, mortgage providers generally require your total debt to be no more than 36% of your pre-tax income. Your ...
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How Big Should My Mortgage Down Payment Be?
Readers: This is article 10 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
Although there are exceptions to every rule, mortgage providers generally require homebuyers to contribute a minimum down payment somewhere between ...
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What Is a VA Loan?
Readers: This is article 8 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
VA loans are government-backed mortgages that are insured by the Veteran's Administration. VA loans are available from qualified lenders to homebuyers ...
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What Is an FHA Loan?
Readers: This is article 7 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
An FHA loan is a government-backed mortgage that is insured by the Federal Housing Administration. Although anyone can apply for an FHA loan, they were ...
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Should I Get a Fixed-Rate Mortgage or an ARM?
Readers: This is article 6 of 25 from my no-nonsense "Mortgage Basics" quick-reference series.
One of the biggest decisions a homebuyer makes when purchasing a home is whether to get an adjustable rate mortgage (ARM) or a fixed-rate mortgage. Of ...
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