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
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
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
Are you looking to adjust your interest rate or loan term? Learn about the rate-and-term refinance to determine whether it’s a good option for you.| Rocket Mortgage
Home equity is the value of the portion of your home you own. Discover the multiple ways to tap into that equity and how to calculate 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
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
Paying off your mortgage early reduces the amount that you’ll pay over time, but is it a good idea? Learn how to avoid issues and pay off your mortgage faster. Learn how to avoid issues and determine if it’s worth it.| Rocket Mortgage
Escrow is important to estate transactions, but what is it? Read our deep dive into escrow, how it works and why it matters when buying or selling a home.| Rocket Mortgage