If you’re currently in the process of purchasing a home, you may have come across the terms “conventional” and “non-conventional.” But what’s the difference? And why should you choose one over the other?
Whether you’re a first-time homebuyer or a veteran of the mortgage process, it’s easy to be confused by mortgage discounts points. Let’s break down the purpose of these points, as well as the overall benefits and risks of buying them. This information could save you thousands over the life of your loan.
Quicken Loans Director of Solution Consulting Eddie Berger explains how you can use mortgage calculators to play out scenarios affecting your mortgage payment, such as changing the term and rate. You can also calculate how much you would save by paying off your mortgage sooner.
The adjustable rate mortgage (ARM) has been a popular choice for decades for Americans wanting to refinance or buy a home. The reason is simple – ARMs often offer a lower rate than fixed-rate mortgages and can save homeowners thousands of dollars. Watch our new video to learn more about ARMs.
When you make monthly mortgage payments, a portion of that money goes toward the loan principal, and a portion is applied to the interest. Amortization is all about understanding the relationship between the principal and the interest, and how this relationship changes over the life of the loan.
Want to learn more about the home buying process? Watch our video, which breaks down the buying process into a few easy steps.
With a YOURgage fixed-rate mortgage, you can customize your loan term, anywhere from eight to 30 years. And with a fixed rate, you’ll have peace of mind knowing that your monthly payments will always stay the same. Watch our video to see if a YOURgage could be right for you.
If you’re looking to save thousands in interest on your mortgage, pay it off quicker, build equity in your house faster, and enjoy making monthly payments at a fixed rate, check out the Quicken Loans 15-year fixed-rate loan. It could be a great way for you to either buy your first home, or refinance your current loan.
From the very first phone call with my Home Loan Expert to signing the last document at the closing table, there’s nothing about my mortgage experience that didn’t go well with Quicken Loans. Here are five ways MyQL can improve your mortgage experience, too!
Have you ever wondered what affects the interest rates you can get on your mortgage? In this post, we’ll explain how the price of crude oil influences your pocketbook in more ways than one.