Understanding Interest-Only Mortgages

What is an Interest-Only Loan? Interest-only mortgage loans have an initial period where the monthly payments consist of just the accrued interest, instead of payments towards your principal balance as well. Once the interest-only period ends, you begin to repay the loan on a regular amortization schedule — meaning that by the end of the… Continue Reading

4 Ways Mortgage Insurance Helps Homebuyers

There are few dirtier words to the average home buyer than “mortgage insurance.” Article after article has been written on ways to avoid mortgage insurance and on why it’s an awful, terrible thing, but I’m here to tell you something new. Mortgage insurance isn’t always a horrifying scar on your mortgage paperwork. In fact, mortgage… Continue Reading