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
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
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
“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
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
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
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