Mortgages

What is the grace period on a loan?

Another term we need to be familiar with to take care of our personal finances is the loan grace period. It can be an important resource when your financial situation gets complicated. If you don't know exactly what it is, here we clarify it for you. What is the grace period for a loan? The fig..   

Renting or buying a home, which is better for you?

Although for many people owning their own home may be seen as a sign of success, not everyone has the same aspirations. Deciphering this dilemma is critical to managing your personal finances, so we'll take a look at what might be better, renting or buying your primary residence. Which is bette..   

Is it worth paying off the mortgage loan early?

Making the decision to pay off your mortgage early can make or break your personal finances. While for some it will make more sense, from an economic perspective, for others it may not work out the way they expect. We know it's not a simple decision, so we'll try to review several scenarios...   

What FHA 203(k) rehab loans are and their requirements

The alternatives for buying a new or used home in the U.S. housing market are many. If you need to repair your home and you cannot find a bank to lend you the money, you can opt for an FHA 203K mortgage loan.This also serves to finance a home that needs rehabilitation, so read on and find out how it..   

How to obtain 100% of the house value with a mortgage loan?

If you've ever wondered about the possibility of getting full financing for a home, the answer is that it does exist. Many people have the income necessary to pay a mortgage, but don't have savings for the down payment. Even so, in the United States you can get 100% of the value of the prope..   

How does a bad credit score affect you?

Having bad financial habits is karma that keeps you from that level of peace of mind you crave. If you add to this a bad credit score, you have the perfect recipe for regretting your financial decisions every day. Given this bleak outlook, we explain how an unfavorable credit score affects your qual..   

How to improve your mortgage terms?

Understanding the mortgage financing process can take time because of the small but many details that make a difference. If you already have a home loan or are thinking about buying a home through a bank, there's always a chance to get a better deal.Improving the terms of a mortgage will depend ..   

What is the debt-to-income ratio?

Good personal finance management requires that you learn some basic concepts to understand the factors that allow you to borrow. This is the case with the debt-to-income ratio (DTI), an almost mandatory requirement to obtain a mortgage loan and other kind of loans. If you still don't know what ..   

What is the Federal Housing Finance Agency (FHFA)?

There are agencies whose purpose is to ensure that the financial system that supports mortgage loans is in good hands. The Federal Housing Finance Agency, which complements the well-known Federal Housing Administration (FHA), was created for this purpose. Since we think it is important to know what ..   

How to refinance your mortgage loan?

Deciding to refinance a mortgage may make sense when the Federal Reserve lowers rates or when you need more money. However, taking out a new mortgage loan for convenience also means you'll have to go through the process all over again. Since we don't expect you to become a serial refinancer,..   

Mortgage loans requirements in the United States

Looking for financing is one of those things we give a lot of thought to because of the time, money and paperwork involved. Nor is it enough to understand that it becomes even more complicated when our financial situation is not ideal.The subject of the requirements to obtain a mortgage loan is some..   

What is covered by mortgage life insurance?

Mortgage life insurance is an important part of American financial culture. Designed exclusively to keep your family from bearing the cost of your mortgage loan if you die, it is not to be confused with Private Mortgage Insurance (PMI). Since this is a popular banking product, we'll take a clos..