Mortgage Basics

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A couple on a couch with a laptop, potentially engaging in real estate-related activities or discussions.

Mortgage Basics - 6-MINUTE READ

Kevin Graham - Sep 9, 2024

What Is Fannie Mae’s Community Seconds Program?

Need a little extra help covering your down payment or closing costs? A program like Fannie Mae's Community Seconds might be able to help.

Large white two story house with porch atop a vast green lawn.

Mortgage Basics - 5-MINUTE READ

Scott Steinberg - Sep 9, 2024

How To Get Out Of A Mortgage

Knowing how to get out of a mortgage the right way can save you from financial ruin. Read our tips for digging yourself out of your mortgage mess.

A pregnant Asian woman browsing or working on a computer, possibly researching or organizing information online.

Mortgage Basics - 3-MINUTE READ

Jamie Johnson - Sep 7, 2024

Applying For A Home Loan While On Maternity Leave: A Guide

Wondering if maternity leave will affect your ability to get a mortgage? Learn what to expect when applying for a home loan while on maternity leave.

Two women looking over mortgage documents together at signing.

Mortgage Basics - 7-MINUTE READ

Ashley Kilroy - Sep 6, 2024

How Does Mortgage Interest Work? Everything You Need To Know

If you’re buying a home, you’ll need to know how mortgage interest will work with the loan you choose. Learn the basics of mortgage interest and why it matters.

A woman wearing glasses working on a laptop, indicating digital work or studying.

Mortgage Basics - 3-MINUTE READ

Kevin Graham - Sep 5, 2024

Get Questions Answered And Take Action With Self-Service Options Available 24/7 With No Wait

Self-service options enable you to take action on your loan on your schedule. Learn more about these self-service options, available anytime with no wait.

A woman enjoying a cup of coffee while thinking about something.

Mortgage Basics - 4-MINUTE READ

Ashley Kilroy - Aug 27, 2024

Adjustable-Rate Mortgage: The Pros And Cons To Consider

Adjustable-rate mortgages come with pros and cons, the primary tradeoff being a lower initial interest rate that increases later. Find out more here.

A woman signing paperwork, likely related to legal or financial documentation.

Mortgage Basics - 6-MINUTE READ

Melissa Brock - Aug 27, 2024

Making Escrow Simpler Through Rocket Mortgage<sup>®</sup>

With a Rocket Mortgage escrow account, we’ll make your property tax and homeowners insurance payments easier to manage. Learn more about our escrow services.

Young family moving into a new home, carrying boxes and household items.

Mortgage Basics - 9-MINUTE READ

Rachel Burris - Aug 26, 2024

Buydown: A Way To Reduce Interest Rates

Buydowns are methods used by buyers and sellers to lower interest rates in the early years of a new mortgage. Find out if a buydown is right for you.

Woman looking over a bill in her kitchen.

Mortgage Basics - 6-MINUTE READ

Kevin Graham - Aug 15, 2024

Mortgage Forbearance Vs. Deferment: What’s The Difference?

For homeowners dealing with financial hardship, relief options include forbearance and deferment. Learn more about mortgage forbearance versus deferment.

A young couple inspecting a house, potentially considering it for purchase.

Mortgage Basics - 4-MINUTE READ

Victoria Araj - Aug 9, 2024

How Does A Mortgage Contingency Work?

A mortgage contingency is a clause that sets up certain conditions for a real estate transaction. Learn how this can protect both home buyers and home.

An image possibly related to the LIBOR (London Interbank Offered Rate) financial concept.

Mortgage Basics - 6-MINUTE READ

Kevin Graham - Aug 9, 2024

The London Interbank Offered Rate (LIBOR), Defined And Explained

Until recently, LIBOR was a longstanding benchmark interest rate for adjustable-rate mortgages and other loans. Learn about LIBOR and its replacement.

A family walking by a house, suggesting a family near or approaching a residential property.

Mortgage Basics - 7-MINUTE READ

Victoria Araj - Aug 2, 2024

Mortgage Recasting: What You Should Know Before You Reamortize

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.

Two women going over paperwork in an office setting, potentially related to real estate or finances.

Mortgage Basics - 4-MINUTE READ

Katie Ziraldo - Jul 30, 2024

What Is The Average Mortgage Payment?

Wondering what you can expect for your monthly mortgage payments? Learn about the average mortgage payment and the factors that affect it.

A beautiful house near woods, portraying a serene setting with nature in the background.

Mortgage Basics - 6-MINUTE READ

Scott Steinberg - Jul 30, 2024

Appraised Value Vs. Market Value: Knowing The Difference

Knowing the difference between appraised value vs. market value is key when purchasing a home. Learn more about the role each plays in real estate transactions.

Mortgage Basics - 6-MINUTE READ

Victoria Araj - Jul 30, 2024

The Appraisal Waiver: What Home Buyers Should Know

Some buyers are able to skip the appraisal process when purchasing their home. Learn more about appraisal waivers and their benefits with our complete guide.