Category Archives: Mortgage

APR & Interest Rate: What’s the Difference?

If you, like so many people these days, are in the market for a new home, you’ve probably heard the phrase “Low APR!” and determined that the lender promoting it might be a good choice for your mortgage lending needs. Once you fully understand how APR, or annual percentage rate, is calculated, however, you’ll know […]

Closing Costs Q&A

With mortgage rates still relatively low and the regional housing market bouncing back, we’re getting more than our average number of questions related to closing costs (sometimes called settlement costs), the most common of which is, “What will closing costs run me?” We’ll take care of that one right off the bat: the rule of […]

Home Equity Financing

You own your home. You love your home. And, it’s probably the largest purchase you will make in your lifetime. You have the ability to tap into the equity you’ve built using two methods: a home equity line of credit (HELOC, pronounced HEE-lock) and a home equity loan (HELOAN). Both HELOCs and HELOANs offer different […]