With home prices and rates still relatively high, securing a mortgage can feel daunting––even to the most experienced borrowers. But don’t let that deter you: If other homebuyers’ experiences are any indication, odds are you’ll eventually find a home loan that works well for you. In fact, most U.S. homeowners say they’re satisfied with the […]
Articles about Mortgage Loans for Real Estate
A mortgage loan or simply mortgage is a loan used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms.
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
Photo by Gallowolf - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=96245313
A Competitive Credit Score Saves Big When Actually Buying a Home
Your Credit Score is incredibly important when you plan to buy a house or refinance a home mortgage. Yet this is one of the most overlooked parts of a home buying plan. The challenge is to start well ahead of the actual purchase of a home so you can position yourself in the best possible […]
Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers
In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain? While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always […]
Should I Make My Mortgage Payment During the COVID-19 Pandemic? [VIDEO]
Question: Libby, should I make my mortgage payment during the COVID-19 pandemic? Answered by Libby Guthrie Video Transcript Hi, I’m Libby Guthrie with Keller Williams in Northern California, and I’ve had a lot of clients ask me recently whether or not they should make their mortgage payment in light of the COVID-19 situation. So I’m going […]
Home Equity – How to Leverage Home Equity to Build Wealth
Home equity is the market value of a homeowner’s unencumbered interest in their real property, that is, the difference between the home’s fair market value and the outstanding balance of all liens on the property. In economics, home equity is sometimes called real property value. (Wikipedia) Homeownership offers many advantages over renting, including a stable living environment, […]
First-Time Home Buyer Tips
I’ve put together 15 First-Time Home Buyer Tips for you to get started on your journey toward the American Dream of homeownership. These tips are a great way to get started, but they do not cover everything you need to know about buying your first home. Still, this should give you a good head start. […]
What’s Ahead for Real Estate in 2019?
As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?” It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy. Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest […]
