The principal is the amount of funding borrowed for your loan, while interest is the money paid for use of the loan. Learn how these components interact.| Rocket Mortgage
A mortgage amortization schedule shows a breakdown of your monthly mortgage payment over time. Figure out how to calculate your mortgage amortization.| Rocket Mortgage
A fixed-rate mortgage will maintain a single interest rate for the life of the loan. Explore how fixed-rate mortgages work and their various benefits.| Rocket Mortgage
There are many types of home loans to choose from when buying a house. Learn more about the pros and cons of each type of mortgage to find the best one for you.| Rocket Mortgage
Many factors can determine whether you qualify for a mortgage. Learn what factors affect your mortgage qualification and how you can improve your chances.| Rocket Mortgage
Private mortgage insurance can be a tricky subject, so we broke down what PMI is, how much it costs, and how to tell whether it's the right option for you.| Rocket Mortgage
The down payment amount you need for a house depends on the type of mortgage you get and your financial situation. Read about all the factors involved.| Rocket Mortgage
“Loan term” often refers to how much time it takes a borrower to pay off their mortgage when making regular payments. Learn more about loan term options here.| Rocket Mortgage
The closing process is the final step in the home buying journey. Learn some of the best ways to prepare for closing on a house with our step-by-step guide.| Rocket Mortgage
A fully amortized loan isn’t as confusing as it may sound. Read about how fully amortized loans work, what they’re for and what the payments consist of.| Rocket Mortgage
Buying a house involves many steps, so we broke it down for you. Get educated and avoid obstacles by checking out our comprehensive guide on how to buy a house.| Rocket Mortgage
Wondering what exactly a real estate agent does day by day? Read our article to learn more about what a real estate agent does for a buyer and seller.| Rocket Mortgage
A Verified Approval allows you to confidently make an offer knowing that your financing is rock solid. Read on for details!| Rocket Mortgage
Mortgages help people buy homes, allowing millions to achieve a coveted milestone. Explore what a mortgage loan is, how it works and how to get one.| Rocket Mortgage
A VA home loan is a type of mortgage financing available to qualifying veterans and members of the military community. Discover VA loan requirements and how to apply.| Rocket Mortgage
USDA loans are affordable mortgage options for eligible home buyers in rural areas. Learn about how USDA financing works and their eligibility requirements here.| www.rocketmortgage.com
Conventional loans are a traditional mortgage option. Learn what a conventional home loan is, how it works and common lender requirements in our guide.| Rocket Mortgage
Making principal-only payments on your mortgage can save you on interest over time. Learn how to make a principal-only payment and pay off your loan faster.| Rocket Mortgage
Mortgage lenders require homeowners insurance, which reimburses you if your home is damaged or destroyed. Learn how to choose the right policy for your home.| Rocket Mortgage
A down payment is the percentage of a home's purchase price you pay up front. Learn how down payments work and how much you should put down on a house.| Rocket Mortgage
Are you applying for an FHA loan? Read on to learn about the FHA mortgage insurance premium (MIP) you’ll need to pay in addition to your mortgage payment.| Rocket Mortgage
Mortgage refinancing works by trading your mortgage for a newer one, ideally with a lower balance and interest rate. Learn why and how to refinance a mortgage.| Rocket Mortgage
Adjustable-rate mortgages offer low introductory interest rates that change over the life of a loan – with limits. Find out whether an ARM is right for you.| Rocket Mortgage
Your loan-to-value ratio (LTV) measures your loan amount against the value of the home you're buying. Figure out how your LTV ratio is calculated.| Rocket Mortgage
A home appraisal determines the value of a home. Learn how this process works for those who are buying, selling or refinancing a home.| Rocket Mortgage
Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.| Rocket Mortgage
An FHA loan is a government-backed loan that allows you to buy a home with less strict financial requirements. Learn more about FHA loans and if you qualify.| Rocket Mortgage
For a home buyer, closing costs are typically 3% – 6% of the loan amount. Learn more about how to calculate your closing costs and what’s included in them.| www.rocketmortgage.com
Property taxes are paid to local governments to help cover the cost of community services. Discover how to calculate property taxes with our guide.| Rocket Mortgage
The mortgage application process has five important steps. Learn each step of the mortgage process from start to finish for a smooth path to homeownership.| Rocket Mortgage