Welcome to the ultimate source for mortgage loan advice, tips, mortgage quotes, and solutions to finding the best interest rate and mortgage for YOU. With today’s real estate market, it’s important to find a mortgage loan that’s ideal for you, your finances, and your future home. The worst things you can do are not research and compare home loan options. And if you’re a first time homebuyer, you need to know the mortgage basics and what to expect with your first home loan.
Get the Best Mortgage Rate Possible with Advice and Services from Bills.com
Browse through our mortgage loan articles and advice center, mortgage calculators, FAQs, and Mortgage Savings Center to find a great rate on a home loan and gain a better understanding of mortgages. We’re here to help.
Read a personal story about a family’s first mortgage and gain a better understanding of what’s involved.
Mortgage success story
House Passes Second Half of Housing Rescue Plan Despite Veto Threat
The latest bill would allow lenders to reduce their
exposure to foreclosures if they agree to cut the outstanding balance of
an existing loan, thus allowing homeowners to refinance into a new...
mortgagenewsdaily.com
Bill to Aid Communities Cope With Aftermath of Foreclosure Passes House
The House late Thursday approved a narrowly focused bill that would
provide $15 billion to the states to buy and spruce up foreclosed
properties.
The bill is different from one that has been...
mortgagenewsdaily.com
Mortgage: a legal agreement between the lender and the borrower which promises the home or property as a form of security for repayment of the loan.
Adjustable Rate Mortgage:(ARM) a mortgage with an interest rate that can change periodically based on the specified index.
Principal Payment: the part of a monthly mortgage payment that goes toward the principal balance of the loan.
Interest Payment: the amount of the mortgage payment applied to the interest that is accruing on the loan.
Annual Percentage Rate:(APR) the cost of a loan that takes into account the mortgage insurance, interest and loan origination fee (points) and is expressed as a yearly rate.
Escrow: the last stage of the mortgage process where the documentation and money is held by a third party until the transaction is finalized.
| program | apr |
|---|---|
| 30 Yr Fixed | 5.9% |
| 15 Yr Fixed | 5.49% |
| 30 Yr Fixed Jumbo | 7.18% |
| 15 Yr Fixed Jumbo | 6.65% |
| 3/1 ARM | 5.23% |
| 5/1 ARM | 5.3% |
| 7/1 ARM | 5.49% |
| 10/1 ARM | 5.88% |
| 3/1 ARM (I/O) | 5.17% |
| 5/1 ARM (I/O) | 5.34% |
| 7/1 ARM (I/O) | 5.54% |
Learn the Basics of a Home Mortgage
Any first-time home buyer needs to know home mortgage basics. Find the basic information you need and get the mortgage process started on your new home.
Mortgage basics
Important Mortgage Loan Terms
Mortgage loan terms can quickly become confusing. Having a better understanding of the language and terminology involved with a mortgage loan will ease the entire process.
More mortgage terms
How to Qualify for a Mortgage: Part 1 - The Basics
Learning the basics of how to qualify for a mortgage will prevent you from making common rookie mistakes. This two-part guide makes the mortgage qualifying process easier to understand.
Qualifying for a Mortgage
How to Qualify for a Mortgage: Part 2 – Terminology and Paperwork
All the information you need to qualify for your mortgage is right here: the paperwork you need, the terms you have to know, and the steps that will lead you to mortgage qualification.
Mortgage qualification
Getting the Best Mortgage Rate: Know the Secret
Knowing the secret to getting the best mortgage rate will help you find the right loan. Learn the secret and start shopping around for your mortgage loan today.
Mortgage loan rate
Mortgage Information for Your Home Purchase
You need all the home purchase mortgage information you can get when buying a home. Learn more about mortgages and start on the path to a new home purchase.
Mortgage information