Mortgages

Our Credit.com experts are here to help you better understand mortgages so that you can make smarter home loan decisions. Find out what you should consider when shopping for a home loan, plus ways to get the best rates & deals. Learn how to approach re-financing, foreclosures and short sales. Understand how mortgage decisions can affect your credit score.

How I Sold My House & Paid My Real Estate Agent Only $500

How I Sold My House & Paid My Real Estate Agent Only $500

How I Sold My House & Paid My Real Estate Agent Only $500

Selling a house is a major undertaking. Even if you hire a professional to help, there’s plenty you’ll need to do yourself — from making the final decision on asking price, clearing clutter to making the place look as inviting as you can. And the help you get can be costly. Agents typically charge about… Read More

4 Things Your Bank Won’t Tell You When You Get a Mortgage

4 Things Your Bank Won’t Tell You When You Get a Mortgage

4 Things Your Bank Won’t Tell You When You Get a Mortgage

As the Consumer Financial Protection Bureau strives to create more transparency within the mortgage industry, there are crucial homebuying truths that endure — and knowing what they are can help you to be better informed as a homebuyer. But don’t expect to hear them from your bank. 1. You Can Get a Better Deal Elsewhere… Read More

How to Price Your Home to Sell

How to Price Your Home to Sell

How to Price Your Home to Sell

Estimating your home’s value can be tricky — but doing it well can make a big difference in how quickly you are able to sell your home. When you are trying to attract buyers for your home, pricing and packaging are more important. Depending on your mortgage situation and your specific home, you can get to… Read More

Help! I’m Trapped in a House I Can’t Afford to Sell

Help! I’m Trapped in a House I Can’t Afford to Sell

Help! I’m Trapped in a House I Can’t Afford to Sell

Eddie would like to to sell his home, but like millions of Americans, the widely touted housing recovery hasn’t fully reached his North Akron, Ohio, neighborhood. He owes about $60,000 on his mortgage and the two experienced real estate agents he consulted put the value of his home at somewhere around $58,000 to $59,000. Even… Read More

Interest-Only Mortgages Are Back … Should We Be Afraid?

Interest-Only Mortgages Are Back … Should We Be Afraid?

Interest-Only Mortgages Are Back … Should We Be Afraid?

Even if you don’t know much about home loans, you’ve probably heard of interest-only mortgages, if only because they played a large role in the financial crisis of 2008 and 2009. These loans practically disappeared during the recession but have since started to make a comeback, but that’s not necessarily something to be concerned about…. Read More

The Surprising Way Your Job Can Impact Your Mortgage

The Surprising Way Your Job Can Impact Your Mortgage

The Surprising Way Your Job Can Impact Your Mortgage

It’s pretty well-known that when you apply for a mortgage, a lender is going to look at your income when deciding whether to approve you. But you may be surprised to hear that your commute can also be a major factor. Here’s what you need to know about getting that mortgage. Occupancy is an integral component of… Read More

Why Do I Have to Pay My Real Estate Agent 6%?!

Why Do I Have to Pay My Real Estate Agent 6%?!

Why Do I Have to Pay My Real Estate Agent 6%?!

Selling a house can be expensive. Not only are you probably going to have to lay out some cash to spruce it up so you can get top dollar, you also have to plan on paying a real estate commission, which usually runs 6% of the sales price. On a $300,000 home that’s $18,000 —… Read More

First-Time Homebuyers Getting Serious About Buying a Home

First-Time Homebuyers Getting Serious About Buying a Home

First-Time Homebuyers Getting Serious About Buying a Home

More than half of millennials (52%) who think they’ll buy their first home in the next five years say debt is keeping them from purchasing a house, according to a survey from TD Bank. An even larger portion (70%) say they need to save more for a down payment. Yet these aspiring homeowners are optimistic, with… Read More

The 30-Year Mortgage You’ve Never Heard Of

The 30-Year Mortgage You’ve Never Heard Of

The 30-Year Mortgage You’ve Never Heard Of

If you want to buy a home, chances are you need a mortgage. You probably already knew that. The most common type of mortgage is one with a 30-year term with a fixed interest rate (aka 30-year fixed). You probably already knew that, too. What you might not know is the variety of ways this… Read More

Should You Refinance Even If You Plan to Sell Your Home?

Should You Refinance Even If You Plan to Sell Your Home?

Should You Refinance Even If You Plan to Sell Your Home?

Are you interested in refinancing your mortgage, but hesitant to do so because you’re thinking of selling your home at some point? Believe it or not, refinancing could still make sense. Here are several reasons why you might want to consider refinancing anyway. Your Financial Circumstances Could Change Let’s say you plan to sell your… Read More

Show Me More