What Was the HARP Program, and Why Does It Still Matter?

If you were a homeowner during the late 2000s, you probably remember how tough the housing market was after the crash. Home values dropped sharply, and many people found themselves underwater on their mortgages. In response, the federal government created a series of programs to offer relief. One of

Fannie Mae, Ginnie Mae & History of Mortgages

In today’s world, most people dream of owning their own home. However, the process of obtaining a mortgage and securing homeownership can be complex. Behind the scenes, there are two key players—Fannie Mae and Ginnie Mae—who help ensure that the housing market remains stable and accessible. These or

Pre-Qualification vs. Pre-Approval: Is there a Difference?

  As you prepare to apply for a mortgage and start the home buying process, you'll come across terms such as "prequalification" and "preapproval". A lot of times these terms are used interchangably, when they are not synonymous. It's extremely important to understand what these terms mean because th

The Truth About: ARM Loans

  If you say "mortgage", most people thinking of a fixed rate, long-term loan. While that's certainly the most popular variety, it's not the only home loan in town. For some asipiring homeowners, an adjustable rate mortgage might be a better option. Adjustable-rate mortgages (ARMs) often appeal to h