Frequently Asked Questions about Home Loans

The answers to the most commonly asked questions about home loans are included below. Learn more about the different types of loans available and how to select the ideal loan for you.

What types of home loans do you offer?

Our lenders offer fixed- and adjustable-rate home loans, as well as many other hybrid and specialty mortgages. You can also find home mortgage loans with a diverse selection of terms, including 20-, 30-, and 40-year loans. We partner with some of the largest mortgage lenders in the United States, so we are well-equipped to help you find whatever kind of loan you require.

Do you provide home mortgage loans directly?

No, we are not a lender, so we do not provide home loans directly. We refer our visitors to our lending partners, but we do not offer loans on this site. The purpose of our site is primarily informational.

How do I decide between a fixed-rate home loan and an adjustable-rate loan?

Aside from the length of the loan's term, choosing between a fixed-rate and an adjustable-rate mortgage is probably the biggest decision borrowers face. A number of factors will determine which type of home loan is right for you, but two of the most important are the market interest rate and your comfort level with risk. When market interest rates are low, most buyers prefer to lock in the rate with a fixed-rate loan. If interest rates are expected to drop, however, an adjustable-rate home loan may be a better choice. Adjustable-rate home loans are much riskier than fixed-rate loans, as the borrower has no way of predicting or budgeting for what his/her payments will be in the future.

Will I need to purchase private mortgage insurance before I can get home loans?

Your lender will require you to purchase private mortgage insurance (PMI) if your loan-to-value ratio is more than 80%. For most borrowers, this means that if you make a down payment of less than 20% of the home's value, you will need to buy PMI. Lenders will not issue home loans without PMI protection in place when the borrower does not have sufficient equity in the home.

Do you offer quotes on refinancing home loans?

Yes, our lenders offer all kinds of home loans, including refinancing and home equity loans. A refinancing home loan allows the borrower to take out a new mortgage to repay the current one. Usually, the goal of a refinancing loan is to obtain a lower interest rate, monthly payment, or better terms.