A refinance can help change the terms of your loan and make your mortgage easier to manage. Let’s take a look at the refinancing process and the costs it represents. We will help you understand how refinancing works and how you can start it with Rocket Mortgage®. Overview: what is refinancing? When you refinance your…
One of the most important aspects of buying a home is identifying what type of mortgage is best for you. However, what if you need to get a very high-value mortgage? You may need a jumbo loan. This guide can help you decide if a jumbo loan is right for you. What is a jumbo…
* As of April 20, 2020, Quicken Loans® does not offer conventional adjustable rate mortgages (ARMs). First-time home buyers can choose from different types of loans, and some are especially helpful for these types of home buyers. These loans include more flexible criteria, such as down payment and lower credit score requirements. Learn about the…
The loan-to-value (LTV) ratio represents the ratio between the amount of the loan you take out and the value of the property that serves as collateral for the loan. Understanding LTV can help you find the right loan and down payment for you. Let’s analyze LTV in detail. What is the loan-to-value (LTV) ratio? The…
Conventional mortgages are a great option for many homeowners because they have lower costs than other popular types of loans. If your credit score and you down payment are high enough, a conventional mortgage might be right for you. What is a conventional mortgage? Conventional mortgages are those that are not guaranteed or insured by…
VA loans are an excellent benefit for the military, veterans, and their eligible surviving spouses. They allow you to qualify for loans with more favorable terms, compared to many other loans, if you are looking to buy or refinance a home, even if you do not have perfect credit. If you are currently serving in…