Should you lock in the mortgage rate?

Thursday, August 7th, 2014

Q: Is it smart to lock in the mortgage rate?

A: The interest rate market is constantly fluctuating and often experiences quick, unexpected movements. Locking in a mortgage rate with a lender can offer protection from the time your lock is confirmed to the day it expires.

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Explaining a mortgage and how it works

Wednesday, June 25th, 2014

Q: What exactly is a mortgage and how does it work?

A: A mortgage helps make owning a home possible for most people. Simply put, it’s a loan that is secured by real property. The lender holds title to the home until the loan is completely repaid. If you don’t pay what you owe, the lender has a right to take the property and sell it to recover the owed money.

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Q: Do Government Programs Exist That Can Help Me Finance a Home?

A: Yes, although many are designed to assist first-time homebuyers, generally defined by lenders as people who have not owed a home in three years.

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