Points are interest fees paid on a loan that reduce your monthly interest rate by requiring prepayment of a small percentage of the total interest due.

People also refinance to convert their adjustable loan to a fixed loan. The main reason behind this type of refinance is to obtain the stability and the security

If you have bad credit, you may not qualify for a conventional loan or low down payment loans offered by FHA and VA.

First of all, let's make sure that we mean the same thing when we discuss "mortgage insurance." Mortgage insurance should not be confused

An adjustable rate mortgage, or an "ARM" as they are commonly called, is a loan type that offers a lower initial interest rate than most fixed rate loans.

The APR is a very confusing number! Even mortgage bankers and brokers admit it is confusing. The APR is designed to measure the "true cost of a loan."

The longer the length of the lock, the higher the points or the interest rate. This is because the longer the lock, the greater the risk for the lender offering that lock.

Mortgage interest rate movements are as hard to predict as the stock market and no one can really know for certain whether they'll go up or down.

Your loan can be sold at any time. There is a secondary mortgage market in which lenders frequently buy and sell pools of mortgages.