Homes
Latest Homes News
Closing costs vs. prepaids: What’s the difference?
Key takeaways When you purchase a house, closing costs are typically paid to your lender and other third parties who…
What is PITI?
Key takeaways The principal, interest, taxes and insurance (PITI) comprise your monthly mortgage payment. You can calculate your PITI payment…
What is a mortgagee clause?
10'000 Hours/Getty Images Key takeaways Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause.…
When is my first mortgage payment due?
Monkey Business Images/Shutterstock Key takeaways The first mortgage payment is usually due a full month after your closing date —…
Best reverse mortgage lenders in 2024
pamspix/Getty Images: Illustration by Issiah Davis/Bankrate Reverse mortgages allow homeowners aged 62 or older to tap into their equity and…
What’s the best way to pay for home renovations: savings or financing?
Key takeaways Using savings to fund renovations avoids the extra expense of interest and accumulation of debt, and encourages sticking…
What is a balloon mortgage?
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them…
How to improve your finances before your first mortgage
RiverNorthPhotography/Getty Images Key takeaways Improving your finances before applying for a mortgage gives you the best shot at getting good…
Mortgagor vs. mortgagee: What’s the difference?
hobo_018/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways The mortgagor is the person or entity who borrows and pays back a…
Agent commissions are getting more transparent — but critics still say the real estate industry operates as a ‘cartel’
When the National Association of Realtors (NAR) and major brokers last year lost a federal antitrust suit, the verdict unleashed…
