A mortgage recast is when you make a lump-sum payment toward your principal balance to reduce your monthly payments. Learn how mortgage recasting works.| 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
Biweekly mortgage payments help pay off your loan faster by applying an extra payment to the principal yearly. Find out if biweekly payments are right 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
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
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