The White House announced a plan to forgive some student loan debt along with other changes to federal student loan debt on Wednesday, August 24th. We’ve got answers to the…
Tag: loan
If you own your home and have been making your regular mortgage payments, you may have some equity. Equity is the value of what you own in your home: the…
This is the 3rd entry in our Home Buying series. There are links to the other entries at the end of this article. You’ve saved a down payment, your credit…
A home inspection is undertaken after an offer is accepted on a home, and before closing. The purpose of the home inspection is to identify any potential issues with the…
A contingency is a condition of a contract that must be fulfilled for the contract to move forward. They are common in the home buying process to protect buyers by…
Underwriting is the process a lender undergoes to determine if a potential loan is an acceptable credit risk i.e. is the borrower likely to repay the loan? An underwriter will look…
A down payment is the amount of money you pay up front when buying something with a loan; like a car or in this case, a home. Here’s a quick…
Secured debt is a loan backed by assets (collateral), such as a home or car which “secures the loan” with an item that the lenders can take ownership of and…