Borrowers who take out a loan to buy a property with less than a 20% down payment are likely to have to pay PMI. PMI is short for Private Mortgage Insurance. This is an insurance policy that the lender requires the borrower to take out to protect...
The best type of mortgage loan really depends on the personal financial situation of the borrower. Fixed rate loans give you the peace of mind of knowing that your monthly payment will never change. ARM loans offer lower payments than fixed rate loans initially...
Ideally you should start getting your finances in order a year in advance before you plan to buy a home. You want to make sure that you have time to fix any potential problems. First do the obvious things...