Life insurance is a powerful tool for ensuring your loved ones are financially secure after you’re gone. It provides a payout to beneficiaries, helping them cover expenses like mortgages, debts, or daily living costs. Why Life Insurance Matters The loss of a primary earner can devastate a family’s finances. Life insurance offers a financial cushion, … Read more
Your home is likely your most significant asset, and home insurance is designed to protect it from unexpected events like fires, storms, or theft. Beyond the structure itself, home insurance also covers personal belongings and liability risks. Why Home Insurance is Essential Natural disasters, accidents, or break-ins can cause significant financial loss. Home insurance helps … Read more
Auto insurance is a legal requirement in most places, but it’s also a smart way to protect yourself from the financial fallout of accidents, theft, or damage to your vehicle. Understanding the basics can help you choose a policy that fits your needs and budget. Why You Need Auto Insurance Driving without insurance is not … Read more
Why Health Insurance Matters Medical expenses can be unpredictable and exorbitant. A single hospital stay can cost tens of thousands of dollars, and ongoing treatments for conditions like diabetes or cancer can add up quickly. Health insurance mitigates these costs by covering a portion—or all—of medical expenses, depending on the plan. Key Benefits Choosing the … Read more
Your Mortgage Statement Explained Key Points Your mortgage statement is a document that contains important details about your loan. You will receive a statement from your lender or servicer for each billing cycle, and it is a good idea to review each statement for accuracy. If you can access your statements online, you may get … Read more
Types of Mortgage Lenders and How to Choose Key Points Mortgage lenders finance the purchase, construction, or renovation of a property. They also offer mortgage refinancing and some other mortgages. Many types of lenders, including banks, offer mortgages through various channels, such as correspondents, directly or wholesale. Some big mortgage names (e.g., Fairway and Rocket … Read more
Key Mortgage Terminology to know: A Guide to Commonly used phrases If you’re financing a home purchase, it’s important to understand mortgage terminology. But becoming fluent can feel like learning a new language. To help, here’s our guide to key mortgage terms and conditions, from A(PR) loans to V(A) loans, to demystify the process and … Read more
Mortgage lien: What They Are and How They Work Key Points Mortgage liens are legal claims on property securing a mortgage. Property rights can be general or specific and voluntary or involuntary. The right to mortgage is express and voluntary. The priority of liens on a property determines which lien will be paid first in … Read more
Mortgage Rate Lock: What It Is and When You Should Use It Key Points A mortgage rate lock does just that: it prevents the mortgage rate from changing for a set period. Mortgage rates change frequently. A rate lock helps protect you from these fluctuations, so you won’t pay more if current market rates rise … Read more
How much does it cost to refinance a mortgage? Key Points They are refinancing your mortgage costs between 2% and 5% of the new loan amount. These closing costs may include application, origination, and home appraisal fees. To determine if it’s worth paying for a refinance, figure out when you’ll break even — when the … Read more