Monthly Archives: January 2023

Switching from a Fixed-Rate Mortgage to an Adjustable-Rate Mortgage: Pros and Cons

A fixed-rate mortgage is a type of loan where the interest rate stays the same for the entire term of the loan, typically 15 or 30 years. An adjustable-rate mortgage…

What Is an Interest-Only Mortgage? An Affordable Home Loan, at Least at First

By Daniel Bortz (Getty Images) An interest-only mortgage is a type of home loan where you start off paying only the interest for a certain time period, followed by a time…

What Happens If I Have a Lien on My House?

Many sellers may already be aware of liens filed on their property, but some may come as a surprise, says Barbara Carrollo-Loeffler, director of consumer and residential lending at Provident Bank in Jersey City, NJ.

New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. It will take too long.