Author: Joseah Biwott

While a $150,000 mortgage may seem to be less expensive compared to other mortgages, it’s still a significant amount and an important financial commitment. This is why you should make the effort to understand your monthly payments as this is essential to help you budget and ensure that you can comfortably afford your new home.…

The word “mortgage” is a very familiar one for anyone involved in real estate or homeownership. It’s a term we use frequently, but only a few of us are familiar with its origins and hidden meaning. Etymology of “Mortgage” The word “mortgage” derives from two Old French words: Therefore, the literal translation of “mortgage” is…

When you take out a mortgage, you typically choose a loan term, such as 15, 20 or 30 years. This represents the length of time you have to repay the loan in full. The actual life span of your mortgage though; the time you actively spend on payment is often shorter than the loan term.…

The word “mortgage” actually comes from two old words: “mort” (meaning death) and “gage” (meaning pledge). So, it literally meant a “death pledge.” Yikes! Back in medieval times, if you couldn’t pay back the money you borrowed for a house, the lender could take the house from you. So, in a way, your pledge (the…

You’ve probably heard the saying, “time is money,” and when it comes to mortgages, that’s absolutely true. The length of your loan (aka, your mortgage term) can make a HUGE difference in how much you pay overall, what your monthly payments look like, and even how much wiggle room you have in your budget. Let’s…

When you take out a mortgage, you typically choose a loan term, such as 15, 20 or 30 years. This represents the length of time you have to repay the loan in full. The actual life span of your mortgage though; the time you actively spend on payment is often shorter than the loan term.…

fascinating history behind this common financial term and its surprising meaning. Those who’ve ever owned a home or are dreaming of buying one, are very family of the word, “mortgage”. But have you ever stopped to ponder why it’s called as such? The takes us back to medieval England and the intricacies of legal agreements. …

Consider it the culmination of your mortgage. It’s the legal way of saying, “Hey, I paid off my loan, so the bank doesn’t have a claim on my house anymore!” This is also called a release or satisfaction of mortgage. It indicates that you are the sole and exclusive owner of your house, with no…

You’ll hear these terms thrown around a lot, but they’re not exactly the same. Let’s break it down so you know what you’re getting into. Home Loans: Your All-in-One House Money Think of a home loan as the big umbrella. It’s any kind of loan you use to buy, build, or fix up a house.…

Buying your first home is super exciting, but the terms used in “mortgages” can seem like a whole new language. If this is something you find intimidating, don’t worry, here’s a simpler way to understand what you need to know. What’s a mortgage? Imagine you want to buy a house, but you don’t have all…