5 Things You Should Never Say When Getting a Mortgage

Weekend Images Inc./Getty Images Being an open book is a great quality to exhibit to your BFF or significant other (well, usually), but it can get you into hot water with your lender when you’re trying to buy a home. Now, let’s be clear: We are not advocating in any way, shape, or form that you …

My Parents Left Me Land. Should I Take $170,000 Instead?

Terrance Horan/MarketWatch Dear Moneyologist, My parents have adequate savings and enough money that all three of us children will inherit money when they die. Their intention is that we should benefit equally from it. There is a parcel of land left for me. The value of that land will be subtracted from my financial inheritance. …

Jumbo Loans Rising Along With The Luxury Market

jsolie/iStock Big, expensive luxury homes come with big, expensive mortgages, and lenders have developed large specialized loans —termed jumbo loans—so that borrowers can have access to higher loan limits. As the luxury home market continues to rise these jumbo loans are heating up the marketplace again. According to the National Association of Realtors, sales of …

Home Buyers’ Top Mortgage Fears: Which One Scares You?

g-stockstudio/iStock Let’s get real, shall we? Getting a mortgage can be a little frightening. Heck, a lot. Who doesn’t get jittery at the prospect of coughing up a huge down payment, of letting lenders probe their financial past, and of ultimately committing to paying back what’s owed, month after month, regardless of what curveballs life might throw? In fact, according …

Think You’re Playing Mortgage Rate Roulette? Here’s Why

Viktor Senkov/iStock/Thinkstock If you’re shopping for a home, you’ve probably already met with a lender and obtained a pre-approval letter based on your credit history, income and assets. Hopefully, your lender also explained to you that mortgage rates fluctuate daily and from one loan program to another. If not, make sure you ask for an …

The Worst Mortgage Advice Home Buyers Actually Believe

Sam Edwards/Getty Images Getting a mortgage is a daunting prospect, which explains why so many people seem eager to pat your hand and say, “Let me give you a little advice.” Sure, those pearls of wisdom may come from an ocean of good intentions, but the suggestions might not necessarily be right for you. In fact, they could …

4 Ways Mortgage Lenders Can Help You Buy a Home

KittisakJirasittichai/iStock In the long home-buying journey, lenders are often pegged as the bad guy—the villain who holds the purse strings and decides whether (or not) to loosen ’em up and grant you a mortgage. OK. Let’s take a step back. This bad rep is mostly a bad rap. Because the reality is that lenders make homeownership possible for the majority …