Your Glossary to Mortgage Lending Adjustable Rate Mortgage A mortgage loan were the interest rate adjusts periodically based on the changes of a specified index such as the one-year Treasury Bill or the LIBOR. Amortization The calculation of the amount of the installment payment it takes to pay off the… read more →
There’s more that goes into buying a home for the first time besides shopping online for mortgage rates. To find the perfect home, you have to log off of the computer, get in your car and see homes for yourself. One way to do that is visiting open houses. First-time… read more →
The latest study from Harvard University found that half of the 43 million renter households in the U.S. spend more than 30 percent of their income on rent payments. A shortage of affordable housing units combined with increased housing costs means it’s more important than ever for low-income, elderly and disabled… read more →
Festivals are one of the main themes of the fall season in Virginia, and they’re the perfect places to sample authentic Virginia flavors. From fresh pies to seasonally-flavored craft beer, the tastes alone will set you on an every-weekend course to the next festival. Cox Farms Fall Festival Centreville, Va… read more →
No for-sale house is ever perfect. But some houses are in better shape and consequently easier to sell than others. If yours isn’t one of the stars, but you still need to sell it for the highest possibly price, it’s going to take more than low mortgage rates to attract a… read more →
Location is a huge factor in successful homeownership. Just a mile—in some cases just a city block—can make a difference in home values, health risks, crime and the general quality of life for you and your family. Everyone has different priorities, but neighborhoods that are more likely to cause trouble for… read more →
You’ve checked out the schools and read neighborhood crime statistics. You’ve timed your commute and figured out where to buy groceries. But what are you missing when it comes to evaluating a new neighborhood? Don’t forget to check these seven neighborhood details before you sign a lease or buy a… read more →
Rent is one of the largest monthly expenses for most people and, as a result, dictates the budgeting process. It’s common knowledge you can get kicked out of your place if you fail to pay (that’s usually spelled out pretty clearly in rental agreements), but eviction is only one of… read more →
Don’t Make These Mistakes! Not Pre-Checking Credit One way to increase the chance of qualifying for a home loan is for a borrower to check his credit before applying. That way, he can address any issues before they become problems for the lender.
Pushing paper may seem like the least fun thing about a remodel but, like eating your broccoli, you gotta do it. Here’s an overview of the basic paperwork you will need: Contractors’ Responsibilities Contractors, like any business owners, have to take responsibility for employees and for their work. They should have the following papers in order—signed, with… read more →