What Does APR Stand For? An annual percentage rate (APR) is a standardized way of expressing the interest rate on a loan. It is a metric that is used to compare different loans and help consumers understand the true cost of borrowing money. The APR takes into account not only the interest rate on a […]
In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Let’s ease those concerns. Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the Mortgage Credit Availability Index (MCAI). According to their […]
If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own […]
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals. What’s Happening with Home Prices? Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: “Price […]
Being self-employed has a lot of advantages. You have a more flexible schedule, but you also have to keep up with the administrative side as well. This is especially true when it comes to managing your own finances, which can make getting approved for a mortgage loan difficult. Lenders usually like to see a steady, […]