Do you want to build a house? A new home construction loan can provide you with the funds you need. Unlike a standard home loan, which often comes with a 15-year or 30-year term, a construction loan has a much shorter lifespan – the term is usually a year or less, however long it takes for construction to be complete. [...]

If you’re planning to take out a mortgage to buy a home, you will likely need a down payment. In other words, you will probably have to pay some cash upfront in order to get a home loan. How much money will you need to save up? Mortgage lenders often prefer 20 percent down payments, but you can buy a [...]

Home loan refinancing can allow you to take advantage of lower mortgage rates, thereby reducing your monthly payment and your overall interest costs. Before approving a refinance loan, however, some lenders require a professional property appraisal. But, that isn’t the case for mortgages through the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Both offer streamline refinance [...]

Your home loan payment may make up a significant part of your monthly budget, so understanding where the mortgage money goes is important. Contrary to what many people think, you are not just paying back the money you borrow. Here, we explain the four components of a home loan payment -- principal, interest, taxes and insurance (PITI) – and the [...]

Home equity loans and cash-out refinance loans both allow you convert the equity in your home to cash you can access immediately. Either option can provide you with the funds for renovations, repairs, debt consolidation or anything else you need. Here, the Integrity First Lending team looks at the differences between the two types of loans and shares expert insights [...]

When you take out a home loan, your lender may ask if you want to pay for any mortgage discount points. Paying for points is a way of prepaying interest on your mortgage. The more you buy, the lower your home loan interest rate will be – which is why the process is referred to as “buying down the rate.” [...]