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
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
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
“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
Are you unsure whether you should lock in your mortgage rate today, or wait? Learn about the mortgage rate lock and why you might consider locking your rate.| Rocket Mortgage
A floating interest rate fluctuates over your loan’s term, changing your mortgage payment amount. Read on to learn about floating rates and how they work.| Rocket Mortgage
Not sure what an escrow refund is or even when they occur? Read our article on all things escrow refund related and what to expect when dealing with one.| 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
Freddie Mac’s Home Possible® program offers low down payments and fees for low-income buyers. Learn if the Home Possible program can help you buy a home.| Rocket Mortgage
Mortgage insurance protects lenders against default on home loans. Learn more about the different types of mortgage insurance, how much it costs and more.| 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
A lien gives a lender or creditor the ability to claim a property to pay off a debt. Learn how they work and about other types of property debt.| Rocket Mortgage
Looking to invest in real estate but not sure how to secure financing for multiple rental properties? Here’s everything you need to know.| 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