Mortgage Basics

A man and woman sitting on the floor relaxing during a home renovation.

Homebuyers
November 20, 2024

Fixer-Uppers: Affordable Dream Homes or Expensive Money Pits?

Fixer-uppers may be affordable options to get into pricier neighborhoods, but buyers could wind up spending much more than they anticipated on renovations.

Blocks spell out PMI on a piece of paper with a gold pen in front of them.

Homebuyers
November 19, 2024

What is PMI? What You Need to Know and How You Can Avoid It

Homebuyers who make smaller down payments may need to pay private mortgage insurance, also known as PMI. Here's how to avoid it—or get rid of it.

A real estate agent and a couple making an offer on a home

Homebuyers
November 14, 2024

What Is Earnest Money and How Does It Work?

Given the state of the market, homebuyers may need to take advantage of every opportunity to make their offers stand out. For some, that could include waiving contingencies or putting down an earnest money deposit.

Homebuyers
November 12, 2024

Ready for a Change? These Cities Will Pay You to Move There

Looking to make a move? These U.S. cities are offering financial incentives, perks like coworking space memberships, and a chance to boost their economies in exchange for remote workers relocating to their communities.

A real estate agent talking to a family inside of a home.

Homebuyers
November 7, 2024

What Is an Escalation Clause? This Little-Known Strategy Can Help Homebuyers in Competitive Markets

An escalation clause is a tool homebuyers can use to win a bidding war—but it could backfire.

Homebuyers
November 1, 2024

Good News for Homebuyers: It May Get a Little Cheaper to Purchase a Home

Homebuyers are always looking to save money. Good news is on the way. More homebuyers will soon be able to buy a home without needing to pay for an appraisal.

A Black couple sits at a table with papers and a laptop

Homebuyers
October 25, 2024

Keeping an Eye on Your DTI: Why Debt-to-Income Ratios Matter for Homebuyers

If you’re hoping to buy a home, you may want to consider paying down your debt. How much debt you have can make or break your ability to qualify for a home loan.