Posts Tagged: mortgage basics

Know Before You Owe: How The New Mortgage Rules Will Affect First-Time Condo Buyers
Know Before You Owe: How The New Mortgage Rules Will Affect First-Time Condo Buyers

Know Before You Owe: How The New Mortgage Rules Will Affect First-Time Condo Buyers

  |   By AuthorMy First Apartment
On Oct. 3, the Consumer Financial Protection Bureau implemented a major new revision to the mortgage process. The new program, known as “Know Before You Owe”, might mean headaches for banks and loan lenders, but the increased transparency is good news for everybody in the market for a new home, including first-time condo buyers. What…
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How Does a Mortgage Work?
How Does a Mortgage Work?

How Does a Mortgage Work?

  |   By AuthorMy First Apartment
If you’re buying a place, you’re almost certain to need a mortgage. Here’s the lowdown on mortgages. A mortgage is a loan. In the most basic sense, that’s all it is – it’s a loan that allows someone to buy real estate. Like all loans, mortgages have interest rates. In other words, if you take out a…
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