Do you know the difference between a conventional mortgage and a government-backed home loan such as an FHA loan, VA mortgage, or USDA home loan? There are two big areas some are concerned with; those areas are down payments and mortgage insurance.We’re looking at the differences between conventional and government-backed home loans with this in mind since a home loan down payment and the insurance you’ll need over the course of the loan are … [Read more...]
Should I Refinance My Home Loan?
Should I refinance my home loan? That is a question many homeowners ask. And it's a question that is especially relevant when news headlines at CNN Money and elsewhere reflect a trend toward lower mortgage loan interest rates. When rates go down, the ability to refinance into a lower mortgage interest rate is very attractive, but who should consider making the jump?The United States Federal Reserve Board weighs in on this question on its’ … [Read more...]