Mortgages

Advertiser Disclosure

Our Credit.com experts are here to help you better understand mortgages so that you can make smarter home loan decisions. Find out what you should consider when shopping for a home loan, plus ways to get the best rates & deals. Learn how to approach re-financing, foreclosures and short sales. Understand how mortgage decisions can affect your credit score.

Coronavirus Mortgage Relief: What Homeowners Need to Know

Coronavirus Mortgage Relief: What Homeowners Need to Know

Coronavirus Mortgage Relief: What Homeowners Need to Know

Advertiser Disclosure The Coronavirus Aid, Relief and Economic Security Act—also known as the CARES Act—is a $2 trillion stimulus package passed by the federal government. The goal of the CARES Act is to provide relief for individuals and businesses struggling with the financial fallout of the COVID-19 pandemic and resulting shutdowns. One of the components... Read More

Cosigning a Mortgage: 5 Things to Consider Before Signing on the Dotted Line

Cosigning a Mortgage: 5 Things to Consider Before Signing on the Dotted Line

Cosigning a Mortgage: 5 Things to Consider Before Signing on the Dotted Line

Advertiser Disclosure Want to be 100% responsible for someone else’s obligation? Cosign their mortgage, and you’ll be just as responsible for repaying the loan as they are! That’s true even if you’re cosigning simply to help them qualify for the loan. Before you take the plunge on cosigning for a house, make sure you know... Read More

Can You Buy a House if You Owe Taxes?

Can You Buy a House if You Owe Taxes?

Can You Buy a House if You Owe Taxes?

Advertiser Disclosure Looking for the perfect home on the real estate market? Unfortunately, it can be tricky if you have unpaid taxes. Failing to pay your federal income taxes can lead to the Internal Revenue Service placing a lien on your property or your assets. These legal tools protect the government’s ability to get its money. They also set off alarm... Read More

Paying Off Debt to Buy a House

Paying Off Debt to Buy a House

Paying Off Debt to Buy a House

Advertiser Disclosure When you buy a house, a big part of a lender’s decision whether to approve your mortgage rests on whether or not you can afford it.If you have a lot of debt, the monthly payments on those obligations chip away at the total amount you can pay each month on a mortgage. But... Read More

Credit Union Vs. Bank Mortgage: Which Should You Choose?

Credit Union Vs. Bank Mortgage: Which Should You Choose?

Credit Union Vs. Bank Mortgage: Which Should You Choose?

Advertiser Disclosure   You’ve saved up your money, you found the perfect house, and you’re ready to buy. Now you just need a mortgage. Commercial banks may be the obvious choice, but they aren’t the only option for your mortgage. Mortgage brokers, online mortgage lenders, and credit unions also originate mortgage loans. Credit unions and... Read More

What Should My Mortgage Credit Score Be?

What Should My Mortgage Credit Score Be?

What Should My Mortgage Credit Score Be?

Advertiser Disclosure You don’t have a separate rating called a mortgage credit score, but lenders do look at your score, credit history and several other factors when deciding whether to approve you for a home loan. Contrary to what some people think, though, you don’t necessarily need an excellent or good credit score to get a home loan. How high... Read More

What to do When You Owe More than a House is Worth and Want to Sell

What to do When You Owe More than a House is Worth and Want to Sell

What to do When You Owe More than a House is Worth and Want to Sell

Advertiser Disclosure Javier Gonzales is legally a homeowner, but he says his first instinct is to say “no” if someone asks. This is because he hasn’t made the mortgage on the townhome he bought in years, and he doesn’t live there anymore. Gonzales says he owes $476,000 on the townhome, which is only worth around $263,000. “I... Read More

Why Do People Rent?

Why Do People Rent?

Why Do People Rent?

Advertiser Disclosure Homeownership is one of the holy grails of adult life. Or is it? These days, you may find yourself choosing to rent a home instead of buying. Laying down roots in one place, taking on a 30-year mortgage and teeing up for the maintenance and expenses involved in owning property may not fit... Read More

The Lenders Giving Borrowers Second Chance Loans

The Lenders Giving Borrowers Second Chance Loans

The Lenders Giving Borrowers Second Chance Loans

Advertiser Disclosure Brenda Woods didn’t want to move and leave the garden she had tended for 40 years. But the roof was falling in. And her bank wouldn’t give her and her husband Larry a loan to buy a replacement home. Brenda’s still tending her garden, though, thanks to a second-chance loan from the New... Read More

How Bad Credit Can Make Your Mortgage More Expensive

How Bad Credit Can Make Your Mortgage More Expensive

How Bad Credit Can Make Your Mortgage More Expensive

Advertiser Disclosure Borrowers who come to the table with lower credit scores can find that their mortgage loan costs more because of their bad credit scores.  This is true for first-time buyers as well as people buying second or third homes. A loan costs someone with a bad credit score more because of higher interest... Read More

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