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The Home Mortgage Disclosure Act (HMDA), which has been in place for more than four decades, requires mortgage lenders to report information about their lending practices.Yes, it’s a behind-the-scenes, business thing. But it can be a good resource for consumers and borrowers, too. Let’s dive into...

Mortgage rates have been on a wild tear recently, reaching 20-year highs topping 7% near the end of last year and bouncing around unpredictably ever since. And since even slight fluctuations in rates end up costing homebuyers hundreds of dollars a month, it’s understandable that many are paralyze...

Getting preapproved for a mortgage is almost a requirement in today’s real estate world. In fact, many real estate agents won’t even let you into their cars to go look at houses until you’ve got your preapproval letter in your hand. And that makes perfect sense. Why would a real estate agent take...

Homeownership is one of the best paths to building intergenerational wealth, especially within communities historically shut out from fair access to the housing market. For families of all races and income levels to prosper and successfully pursue the American dream of homeownership, home apprais...

One of the most effective ways to build wealth is to invest your money. But how should you do it, how long should it take and when should you start?Working is a reliable way to earn money and gradually increase your wealth over time. However, there are several ways in which you can invest the mon...

According to the calendar, we’re officially already in spring, meaning it should be the busiest time in real estate. 2023 isn’t shaping up to be a typical year, however, so what does that mean for the housing market?Below, we take a look at some of the things most impactful in the housing and rea...

If you’ve owned your residence for a while, you’ve probably built up a valuable amount of home equity you can tap into and use as cash. Three popular ways to draw equity from your home include a reverse mortgage, a home equity loan or a home equity line of credit (HELOC).All three of these financ...

The closing disclosure is the last document you’ll receive before you close on your home loan. Review this detailed five-pager carefully to make sure all the numbers look correct before closing day.Key takeaways Closing disclosures are legally required and provide final details of your loan You w...

Mistakes happen occasionally. But when they appear on your credit report and hurt your credit score, a mistake could make it harder to borrow money for a house, a car, or other purchases, as well as the overall cost of your home. Credit reports are also used to decide whether you can rent an apar...

Buying your first home comes with costs and possibly stress, but there’s at least one potential silver lining. If you’re within income limits, you might be able to qualify for a mortgage credit certificate, also called a mortgage interest credit certificate or MCC.What is a mortgage credit certif...