Financing a Second Home and an Investment Property Differ

Financing a Second Home and an Investment Property Differ

While digging toes in the sand or swishing skis through powdery snow, we often imagine what it would be like to own our little slice of vacation heaven. With historically low interest rates, the idea of taking out a mortgage for a home away from home may seem a bit more possible, especially if you…

Mortgage Essentials: Understanding Settlement Charges (Closing Costs)

Mortgage Essentials: Understanding Settlement Charges (Closing Costs)

When you get a mortgage loan (either for purchasing a new home or refinancing your current mortgage), that loan will carry settlement charges, generally known as “closing costs.” These include things like points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other costs. Settlement costs include two types…