A complete guide to short-term mortgages | Rocket Mortgage
Want to be mortgage-free sooner? Discover how short-term home loans can help you save thousands and pay off your home faster.| Rocket Mortgage
Want to be mortgage-free sooner? Discover how short-term home loans can help you save thousands and pay off your home faster.| Rocket Mortgage
If you’re buying a home, you’ll need to know how mortgage interest will work with the loan you choose. Learn the basics of mortgage interest and why it matters.| Rocket Mortgage
Our amortization calculator shows you how principal and interest are paid over the life of your mortgage. You can also see how additional payments affect your loan.| www.rocketmortgage.com
A mortgage preapproval determines how much you can borrow for your mortgage. Here’s what to expect from your lender and how to navigate the preapproval process.| Rocket Mortgage
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 prepayment penalty is a fee some lenders charge when you pay all or part of your loan off early. Find out what triggers the fee and how to avoid it.| 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
Annual percentage rate (APR) is the rate your loan will accrue interest at over the repayment term. See how APR works on a mortgage and why it’s important.| 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
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
