The traditional mortgage process—from application to closing—typically involves a lot of face-to-face contact, from filling out an application at a lender’s office to gathering in a conference room to review and sign a stack of documents before being handed the house keys. Online lending has grown so much over the last decade that it is
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Homebuyer demand may have waned in recent weeks as the COVID-19 outbreak worsened, but that doesn’t mean it’s gone entirely. In fact, according to Fannie Mae’s Home Purchase Sentiment Index, over half of Americans still say it’s a good time to buy a home. Does that mean the road to a home purchase will be
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Coming up with the cash for a down payment can be a big hurdle for anyone hoping to become a homeowner. Most financial experts recommend aiming for a 20% down payment to avoid paying extra each month for private mortgage insurance. If you feel like it may be impossible to save up that much, you’re
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Applying for a mortgage is arguably everyone’s least-favorite and least-understood part of the homebuying process. Nobody enjoys assembling the mountain of paperwork required for a loan application. But 90% of us need a mortgage loan to buy a house. So it behooves us to learn what prospective lenders really want to see in all the
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You know you need to pay homeowner’s insurance when you purchase a home. And for good reason: that policy protects you should anything unexpected happen to your property. As expensive as homes can be to keep, maintain, and repair, the right home insurance is a great investment in your long-term financial security. If something goes
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