What are biggest loans you'll take out in your lifetime? If you're like most people, they’ll be the ones you use to finance the purchase of your home and car. But aside from the sizable financial commitments that come with these jumbo-size loans, mortgage and auto loans don't have as much in common as you might think. In fact, you'll find differences in everything from the credit scores you'll need to qualify for these loans to the time it takes to close them.
Horror stories often abound when house hunting enters the conversation. Whatever you’ve heard, it’s natural to feel a little apprehensive when making what could be one of the biggest purchases in your life. If you’re in the market for a home, follow these tips to drop the drama at the door during your search for a home.
Mortgage closing costs are fees charged by the lender, to you, for services that must be performed in order to close your loan. You might be curious about how they’re determined and what’s included, so let’s go over what you can expect on a typical mortgage transaction when you buy or refinance a home.